Insider Selling: Travere Therapeutics (NASDAQ:TVTX) Insider Sells 10,000 Shares of Stock

Key Points

• Elizabeth Reed, an insider at Travere Therapeutics, sold 10,000 shares at an average price of $25.00, resulting in a total transaction of $250,000 and a decrease in ownership by 10.01%.
• Travere Therapeutics reported a revenue of $94.84 million for the quarter, which is a 111.5% increase compared to the same quarter last year, despite a loss in earnings per share.
• Wall Street analysts have mixed ratings for Travere Therapeutics, with a "Moderate Buy" average rating and a price target of $34.20.

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) insider Elizabeth Reed sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $25.00, for a total transaction of $250,000.00. Following the sale, the insider owned 89,878 shares of the company's stock, valued at approximately $2,246,950. This represents a 10.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Travere Therapeutics Stock Up 0.7%

Shares of Travere Therapeutics stock traded up $0.18 on Wednesday, hitting $24.41. 1,068,124 shares of the company traded hands, compared to its average volume of 1,788,209. Travere Therapeutics, Inc. has a 12-month low of $12.91 and a 12-month high of $28.69. The company has a quick ratio of 1.98, a current ratio of 2.00 and a debt-to-equity ratio of 9.50. The company has a market cap of $2.18 billion, a PE ratio of -11.97 and a beta of 0.79. The company has a 50-day moving average price of $18.83 and a 200 day moving average price of $17.59.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.14. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.The company had revenue of $94.84 million for the quarter, compared to analyst estimates of $100.18 million. During the same period in the prior year, the firm posted ($0.65) EPS. The business's revenue was up 111.5% compared to the same quarter last year. Sell-side analysts predict that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TVTX. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Travere Therapeutics in the 1st quarter worth about $182,000. Polar Asset Management Partners Inc. bought a new stake in Travere Therapeutics during the first quarter worth about $304,000. Wellington Management Group LLP bought a new position in shares of Travere Therapeutics in the fourth quarter valued at approximately $583,000. Northern Trust Corp boosted its holdings in shares of Travere Therapeutics by 7.2% in the 1st quarter. Northern Trust Corp now owns 808,687 shares of the company's stock worth $14,492,000 after acquiring an additional 54,292 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Travere Therapeutics by 166.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,103,075 shares of the company's stock worth $16,326,000 after acquiring an additional 689,561 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have weighed in on TVTX. Stifel Nicolaus raised their target price on Travere Therapeutics from $20.00 to $25.00 and gave the company a "hold" rating in a report on Friday, September 12th. Wells Fargo & Company lifted their target price on shares of Travere Therapeutics from $27.00 to $35.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. Wall Street Zen cut shares of Travere Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday. Jefferies Financial Group set a $35.00 price target on Travere Therapeutics in a report on Wednesday, September 10th. Finally, Scotiabank reissued an "outperform" rating on shares of Travere Therapeutics in a report on Thursday, August 7th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Travere Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $34.20.

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.

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