Insider Selling: Travere Therapeutics, Inc. (NASDAQ:TVTX) Insider Sells 4,207 Shares of Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Jula Inrig sold 4,207 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $20.12, for a total value of $84,644.84. Following the completion of the transaction, the insider now owns 85,236 shares of the company’s stock, valued at $1,714,948.32. This trade represents a 4.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Jula Inrig also recently made the following trade(s):

• On Monday, January 6th, Jula Inrig sold 440 shares of Travere Therapeutics stock. The shares were sold at an average price of $18.76, for a total transaction of $8,254.40.
• On Friday, January 3rd, Jula Inrig sold 2,066 shares of Travere Therapeutics stock. The shares were sold at an average price of $19.10, for a total transaction of $39,460.60.

Travere Therapeutics Stock Performance

TVTX stock opened at $21.86 on Friday. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $22.13. The company has a fifty day simple moving average of $18.80 and a 200 day simple moving average of $15.56.

Analysts Set New Price Targets

TVTX has been the subject of a number of recent analyst reports. Piper Sandler raised their price objective on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Cantor Fitzgerald initiated coverage on Travere Therapeutics in a report on Friday, January 10th. They set an “overweight” rating on the stock. Barclays increased their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $9.00 to $27.00 in a research note on Monday, October 21st. Finally, Scotiabank increased their price target on shares of Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Institutional Trading of Travere Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in TVTX. Emerald Advisers LLC raised its stake in shares of Travere Therapeutics by 19.8% in the 3rd quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock valued at $27,430,000 after acquiring an additional 323,513 shares in the last quarter. Finepoint Capital LP grew its holdings in Travere Therapeutics by 0.3% during the third quarter. Finepoint Capital LP now owns 1,782,267 shares of the company’s stock valued at $24,934,000 after purchasing an additional 5,539 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Travere Therapeutics by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock valued at $24,222,000 after purchasing an additional 64,744 shares during the period. Emerald Mutual Fund Advisers Trust lifted its stake in shares of Travere Therapeutics by 26.0% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 1,185,709 shares of the company’s stock worth $16,588,000 after buying an additional 244,444 shares during the last quarter. Finally, Parkman Healthcare Partners LLC grew its stake in Travere Therapeutics by 12.0% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 1,086,067 shares of the company’s stock valued at $15,194,000 after buying an additional 116,175 shares during the last quarter.

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.