Eric M. Dube Sells 50,691 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric M. Dube sold 50,691 shares of Travere Therapeutics stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $20.21, for a total value of $1,024,465.11. Following the completion of the transaction, the chief executive officer now directly owns 430,548 shares of the company’s stock, valued at $8,701,375.08. This represents a 10.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Travere Therapeutics Trading Up 4.4 %

NASDAQ:TVTX traded up $0.88 during mid-day trading on Tuesday, hitting $21.10. 987,233 shares of the company’s stock were exchanged, compared to its average volume of 1,250,242. Travere Therapeutics, Inc. has a fifty-two week low of $5.12 and a fifty-two week high of $21.56. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The firm has a market capitalization of $1.65 billion, a P/E ratio of -4.64 and a beta of 0.72. The company has a 50 day simple moving average of $18.69 and a 200-day simple moving average of $15.47.

Institutional Trading of Travere Therapeutics

Several institutional investors have recently modified their holdings of TVTX. R Squared Ltd acquired a new position in Travere Therapeutics during the 4th quarter worth about $53,000. CWM LLC raised its position in shares of Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after acquiring an additional 3,065 shares during the last quarter. Quarry LP acquired a new position in shares of Travere Therapeutics in the third quarter worth approximately $105,000. Baader Bank Aktiengesellschaft bought a new stake in Travere Therapeutics in the fourth quarter valued at approximately $192,000. Finally, Diversified Trust Co acquired a new stake in Travere Therapeutics during the 3rd quarter valued at approximately $161,000.

Analyst Ratings Changes

TVTX has been the subject of a number of analyst reports. Bank of America boosted their price target on Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. HC Wainwright upped their price target on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Guggenheim lifted their price objective on shares of Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Leerink Partners reissued an “outperform” rating and set a $20.00 price target on shares of Travere Therapeutics in a report on Tuesday, October 8th. Finally, Piper Sandler raised their price objective on Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Travere Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $24.00.

About Travere Therapeutics

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.