Insider Selling: Travere Therapeutics (NASDAQ:TVTX) Insider Sells $57,301.59 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Jula Inrig sold 1,779 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $32.21, for a total transaction of $57,301.59. Following the completion of the sale, the insider directly owned 105,706 shares in the company, valued at $3,404,790.26. This trade represents a 1.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, February 3rd, Jula Inrig sold 6,956 shares of Travere Therapeutics stock. The shares were sold at an average price of $32.12, for a total value of $223,426.72.
• On Tuesday, January 6th, Jula Inrig sold 445 shares of Travere Therapeutics stock. The shares were sold at an average price of $37.75, for a total value of $16,798.75.
• On Monday, January 5th, Jula Inrig sold 2,031 shares of Travere Therapeutics stock. The stock was sold at an average price of $40.18, for a total value of $81,605.58.
• On Wednesday, December 24th, Jula Inrig sold 15,000 shares of Travere Therapeutics stock. The shares were sold at an average price of $42.00, for a total value of $630,000.00.

Travere Therapeutics Stock Performance

Shares of Travere Therapeutics stock opened at $29.71 on Friday. The company has a quick ratio of 2.71, a current ratio of 2.75 and a debt-to-equity ratio of 4.23. The stock’s fifty day moving average is $33.76 and its two-hundred day moving average is $27.98. Travere Therapeutics, Inc. has a 52 week low of $12.91 and a 52 week high of $42.13. The company has a market capitalization of $2.66 billion, a PE ratio of -28.03, a price-to-earnings-growth ratio of 0.82 and a beta of 0.83.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TVTX. Guggenheim reaffirmed a “buy” rating and issued a $49.00 price target on shares of Travere Therapeutics in a research note on Wednesday, January 14th. TD Cowen reaffirmed a “buy” rating on shares of Travere Therapeutics in a research report on Friday, October 31st. Zacks Research downgraded shares of Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Citigroup increased their price objective on Travere Therapeutics from $34.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a report on Wednesday, January 21st. Twelve investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $39.07.

Institutional Trading of Travere Therapeutics

A number of hedge funds have recently bought and sold shares of the stock. Stephens Investment Management Group LLC purchased a new position in shares of Travere Therapeutics in the 3rd quarter valued at $38,232,000. Wellington Management Group LLP boosted its position in Travere Therapeutics by 3,331.9% during the third quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company’s stock valued at $28,715,000 after purchasing an additional 1,166,460 shares in the last quarter. Frazier Life Sciences Management L.P. purchased a new position in Travere Therapeutics in the second quarter valued at about $14,831,000. Perceptive Advisors LLC purchased a new position in Travere Therapeutics in the second quarter valued at about $12,347,000. Finally, Marshall Wace LLP bought a new position in Travere Therapeutics in the second quarter worth about $10,992,000.

About Travere Therapeutics

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.