Travere Therapeutics (NASDAQ:TVTX) Director Sells $330,000.00 in Stock

Key Points

• Director Roy Baynes sold 10,000 shares at an average price of $33 under a pre-arranged Rule 10b5-1 plan, generating $330,000 and reducing his stake by 21.05% to 37,500 shares.
• Travere traded at $31.67 mid-day with a 52-week range of $12.91–$42.13, a market cap of about $2.92 billion and a negative P/E of -105.56.
• Analyst and institutional activity is mixed: the consensus is a "Moderate Buy" with an average price target of $39, while several funds (e.g., Rockefeller, XTX Topco) recently increased or initiated stakes.

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) Director Roy Baynes sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $33.00, for a total transaction of $330,000.00. Following the completion of the sale, the director owned 37,500 shares in the company, valued at $1,237,500. This represents a 21.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Price Performance

Travere Therapeutics stock traded down $0.16 during mid-day trading on Tuesday, reaching $31.67. The company had a trading volume of 987,385 shares, compared to its average volume of 1,941,353. Travere Therapeutics, Inc. has a fifty-two week low of $12.91 and a fifty-two week high of $42.13. The company has a current ratio of 2.74, a quick ratio of 2.70 and a debt-to-equity ratio of 2.71. The company has a market cap of $2.92 billion, a P/E ratio of -105.56 and a beta of 0.86. The business has a fifty day simple moving average of $29.24 and a 200 day simple moving average of $30.96.

Institutional Investors Weigh In On Travere Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. increased its stake in Travere Therapeutics by 1,604.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,642 shares of the company's stock valued at $101,000 after purchasing an additional 2,487 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Travere Therapeutics in the fourth quarter valued at $278,000. Empowered Funds LLC bought a new stake in Travere Therapeutics in the fourth quarter valued at $115,000. KVP Capital Advisors LP bought a new stake in Travere Therapeutics in the fourth quarter valued at $3,477,000. Finally, XTX Topco Ltd increased its stake in Travere Therapeutics by 475.0% in the fourth quarter. XTX Topco Ltd now owns 60,680 shares of the company's stock valued at $2,319,000 after purchasing an additional 50,127 shares in the last quarter.

Analyst Ratings Changes

TVTX has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Travere Therapeutics from $44.00 to $41.00 and set an "overweight" rating for the company in a research note on Wednesday, March 25th. Guggenheim reaffirmed a "buy" rating and set a $49.00 price target on shares of Travere Therapeutics in a research note on Wednesday, January 14th. Wall Street Zen downgraded shares of Travere Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 21st. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. Finally, Piper Sandler lifted their target price on shares of Travere Therapeutics from $35.00 to $38.00 and gave the stock a "neutral" rating in a research note on Friday, February 6th. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $39.00.

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.

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