Elizabeth Reed Sells 37,500 Shares of Travere Therapeutics (NASDAQ:TVTX) Stock

Key Points

• Insider sale: Elizabeth Reed sold 37,500 Travere Therapeutics shares for approximately $2.34 million at an average price of $62.34, reducing her position by 26.24% to 105,389 shares. The transaction was executed under a pre-arranged Rule 10b5-1 plan.
• Strong operating momentum: Travere reported quarterly revenue of $169.58 million, up 48.2% year over year and above analyst expectations, while its adjusted loss of $0.10 per share beat estimates.
• Analyst outlook remains positive: Ten analysts rate TVTX a Buy, with an average price target of $68; several firms recently raised targets to $75, while Evercore set a $78 objective.

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) insider Elizabeth Reed sold 37,500 shares of the firm's stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $62.34, for a total value of $2,337,750.00. Following the completion of the sale, the insider directly owned 105,389 shares in the company, valued at approximately $6,569,950.26. The trade was a 26.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Price Performance

Shares of TVTX traded up $1.26 during trading hours on Thursday, reaching $64.74. 1,384,694 shares of the company's stock traded hands, compared to its average volume of 1,246,848. Travere Therapeutics, Inc. has a 12 month low of $22.06 and a 12 month high of $68.73. The company has a current ratio of 4.05, a quick ratio of 3.99 and a debt-to-equity ratio of 24.58. The stock has a market cap of $6.10 billion, a PE ratio of -140.74 and a beta of 1.05. The firm's 50 day simple moving average is $61.63 and its 200-day simple moving average is $48.50.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.03. The company had revenue of $169.58 million for the quarter, compared to analysts' expectations of $157.27 million. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. Travere Therapeutics's revenue for the quarter was up 48.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 earnings per share. Equities analysts expect that Travere Therapeutics, Inc. will post -0.54 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TVTX. GAMMA Investing LLC grew its position in Travere Therapeutics by 53.4% during the 2nd quarter. GAMMA Investing LLC now owns 606 shares of the company's stock worth $34,000 after acquiring an additional 211 shares during the last quarter. Corient Private Wealth LP lifted its position in Travere Therapeutics by 1.4% in the second quarter. Corient Private Wealth LP now owns 48,125 shares of the company's stock valued at $2,734,000 after purchasing an additional 648 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Travere Therapeutics by 4.1% during the fourth quarter. ProShare Advisors LLC now owns 19,007 shares of the company's stock valued at $726,000 after purchasing an additional 756 shares during the period. Allworth Financial LP bought a new position in shares of Travere Therapeutics in the second quarter worth approximately $47,000. Finally, Swiss National Bank increased its stake in shares of Travere Therapeutics by 0.6% in the first quarter. Swiss National Bank now owns 168,100 shares of the company's stock worth $4,994,000 after buying an additional 1,000 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TVTX shares. Piper Sandler restated an "overweight" rating on shares of Travere Therapeutics in a research report on Monday, August 17th. TD Cowen increased their target price on Travere Therapeutics from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Guggenheim raised their price target on Travere Therapeutics from $65.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Wedbush lifted their price target on Travere Therapeutics from $61.00 to $75.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. Finally, Evercore set a $78.00 price objective on Travere Therapeutics in a research report on Monday, August 10th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Travere Therapeutics has an average rating of "Moderate Buy" and an average target price of $68.00.

About Travere Therapeutics

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare kidney and immune-mediated diseases. The company's work is centered on conditions with significant unmet medical needs, including diseases that can lead to progressive kidney damage and kidney failure.

Travere's principal commercial product is FILSPARI (sparsentan), an oral therapy for adults with primary immunoglobulin A nephropathy, or IgA nephropathy, who are at risk of disease progression.

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