Travere Therapeutics (NASDAQ:TVTX) Director Sells $431,145.00 in Stock

Key Points

• Director Roy Baynes sold 9,750 shares on May 1 at an average price of $44.22 for $431,145, leaving him with 37,500 shares (a 20.63% reduction); the transaction was executed under a pre-arranged Rule 10b5-1 trading plan and disclosed on an SEC Form 4.
• Travere's stock traded up about 1.8% to $44.91 on volume of roughly 2.4 million shares, sitting near its 12-month high of $45.43; the company has a market cap of about $4.15 billion and a negative P/E of –149.7.
• Analyst sentiment is mixed-to-positive with a MarketBeat consensus of "Moderate Buy" and a $42.67 target, while individual firms range from Weiss Ratings' "sell" to Guggenheim and Canaccord raising targets to the mid-$50s.

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) Director Roy Baynes sold 9,750 shares of the firm's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $44.22, for a total value of $431,145.00. Following the completion of the transaction, the director owned 37,500 shares in the company, valued at approximately $1,658,250. This represents a 20.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Trading Up 1.8%

Travere Therapeutics stock traded up $0.79 during mid-day trading on Monday, hitting $44.91. The stock had a trading volume of 2,406,836 shares, compared to its average volume of 2,150,284. The stock has a 50-day simple moving average of $32.02 and a two-hundred day simple moving average of $32.59. The stock has a market capitalization of $4.15 billion, a PE ratio of -149.70 and a beta of 1.13. Travere Therapeutics, Inc. has a 12 month low of $13.88 and a 12 month high of $45.43. The company has a current ratio of 2.74, a quick ratio of 2.70 and a debt-to-equity ratio of 2.71.

Hedge Funds Weigh In On Travere Therapeutics

Several institutional investors have recently modified their holdings of the business. Arizona State Retirement System lifted its holdings in shares of Travere Therapeutics by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 24,964 shares of the company's stock valued at $597,000 after purchasing an additional 375 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Travere Therapeutics by 69.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company's stock valued at $45,000 after purchasing an additional 487 shares in the last quarter. Comerica Bank lifted its holdings in shares of Travere Therapeutics by 77.5% during the 4th quarter. Comerica Bank now owns 1,127 shares of the company's stock valued at $43,000 after purchasing an additional 492 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Travere Therapeutics by 4.1% during the 4th quarter. ProShare Advisors LLC now owns 19,007 shares of the company's stock valued at $726,000 after purchasing an additional 756 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Travere Therapeutics by 26.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,348 shares of the company's stock valued at $166,000 after purchasing an additional 902 shares in the last quarter.

Analyst Ratings Changes

Several research firms recently issued reports on TVTX. JPMorgan Chase & Co. decreased their price target on Travere Therapeutics from $44.00 to $41.00 and set an "overweight" rating on the stock in a report on Wednesday, March 25th. Guggenheim raised their price target on Travere Therapeutics from $54.00 to $56.00 and gave the company a "buy" rating in a report on Friday, April 24th. Canaccord Genuity Group raised their target price on Travere Therapeutics from $47.00 to $56.00 and gave the stock a "buy" rating in a report on Tuesday, April 14th. Weiss Ratings restated a "sell (e+)" rating on shares of Travere Therapeutics in a report on Wednesday, January 21st. Finally, Piper Sandler upgraded Travere Therapeutics from a "neutral" rating to an "overweight" rating and set a $49.00 target price on the stock in a report on Tuesday, April 14th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $42.67.

Travere Therapeutics Company Profile

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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