Insider Selling: Travere Therapeutics, Inc. (NASDAQ:TVTX) CFO Sells 5,192 Shares of Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CFO Christopher R. Cline sold 5,192 shares of Travere Therapeutics stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $20.12, for a total value of $104,463.04. Following the sale, the chief financial officer now directly owns 90,038 shares in the company, valued at approximately $1,811,564.56. This trade represents a 5.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Travere Therapeutics Trading Up 0.5 %

Travere Therapeutics stock opened at $21.21 on Thursday. Travere Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $21.86. The firm’s 50 day moving average price is $18.74 and its two-hundred day moving average price is $15.51. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -4.66 and a beta of 0.72. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71.

Hedge Funds Weigh In On Travere Therapeutics

Hedge funds have recently modified their holdings of the stock. Sei Investments Co. acquired a new position in shares of Travere Therapeutics in the 2nd quarter valued at $117,000. Bank of Montreal Can purchased a new stake in Travere Therapeutics during the second quarter valued at about $625,000. AQR Capital Management LLC boosted its holdings in shares of Travere Therapeutics by 55.7% in the second quarter. AQR Capital Management LLC now owns 74,069 shares of the company’s stock worth $609,000 after buying an additional 26,485 shares during the period. Diversified Trust Co purchased a new position in shares of Travere Therapeutics in the third quarter worth approximately $161,000. Finally, CWM LLC raised its holdings in shares of Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after acquiring an additional 3,065 shares during the period.

Analysts Set New Price Targets

Several brokerages have weighed in on TVTX. Bank of America lifted their target price on Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Wedbush upped their price objective on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Guggenheim raised their target price 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. Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $9.00 to $27.00 in a research report on Monday, October 21st. Finally, Cantor Fitzgerald started coverage on shares of Travere Therapeutics in a report on Friday, January 10th. They issued an “overweight” rating for the company. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Travere Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Travere Therapeutics Company Profile

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.