Travere Therapeutics, Inc. (NASDAQ:TVTX) SVP Sells $177,050.78 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) SVP William E. Rote sold 8,951 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $19.78, for a total transaction of $177,050.78. Following the completion of the sale, the senior vice president now directly owns 95,719 shares in the company, valued at $1,893,321.82. This trade represents a 8.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Travere Therapeutics Trading Up 4.4 %

Shares of TVTX stock opened at $21.10 on Wednesday. Travere Therapeutics, Inc. has a one year low of $5.12 and a one year high of $21.56. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The company has a 50 day moving average price of $18.69 and a 200 day moving average price of $15.47.

Hedge Funds Weigh In On Travere Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in Travere Therapeutics by 3.6% during the fourth quarter. Bank of New York Mellon Corp now owns 216,863 shares of the company’s stock worth $3,778,000 after purchasing an additional 7,513 shares during the last quarter. Impax Asset Management Group plc acquired a new position in Travere Therapeutics during the fourth quarter worth approximately $5,226,000. Ieq Capital LLC acquired a new position in Travere Therapeutics during the fourth quarter worth approximately $361,000. Rhumbline Advisers increased its position in Travere Therapeutics by 2.2% during the fourth quarter. Rhumbline Advisers now owns 121,248 shares of the company’s stock worth $2,112,000 after purchasing an additional 2,640 shares during the last quarter. Finally, Entropy Technologies LP acquired a new position in Travere Therapeutics during the fourth quarter worth approximately $214,000.

Analysts Set New Price Targets

Several brokerages have issued reports on TVTX. Bank of America upped their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Cantor Fitzgerald began coverage on shares of Travere Therapeutics in a report on Friday, January 10th. They issued an “overweight” rating on the stock. Wells Fargo & Company raised shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $9.00 to $27.00 in a report on Monday, October 21st. Wedbush upped their price target on shares of Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Finally, Barclays upped their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Travere Therapeutics currently has an average rating of “Moderate Buy” and an average price target 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.