Key Points
- CFO Christopher Cline sold 1,745 shares at an average of $32.19 on Feb. 4 for a total of $56,171.55, leaving him with 111,226 shares (a 1.54% reduction).
- TVTX traded up about 2.1% to $30.09 amid light volume; the company has a $2.69B market cap, a negative P/E, and an analyst consensus of “Moderate Buy” with an average target of $38.86.
- Several institutional investors — notably Vanguard (+10.3%) and Adage Capital (+27.4%) — have recently increased their positions, indicating continued institutional interest.
Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) CFO Christopher Cline sold 1,745 shares of the company's stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $32.19, for a total value of $56,171.55. Following the completion of the transaction, the chief financial officer directly owned 111,226 shares in the company, valued at $3,580,364.94. This represents a 1.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Travere Therapeutics Stock Up 2.1%
TVTX stock traded up $0.62 during mid-day trading on Friday, hitting $30.09. The stock had a trading volume of 70,021 shares, compared to its average volume of 2,769,370. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of -28.81, a PEG ratio of 0.88 and a beta of 0.83. The company has a fifty day moving average of $33.88 and a 200 day moving average of $27.80. Travere Therapeutics, Inc. has a 1-year low of $12.91 and a 1-year high of $42.13. The company has a current ratio of 2.75, a quick ratio of 2.71 and a debt-to-equity ratio of 4.23.
Institutional Investors Weigh In On Travere Therapeutics
Several institutional investors have recently made changes to their positions in TVTX. Vanguard Group Inc. raised its holdings in Travere Therapeutics by 10.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,613,368 shares of the company's stock valued at $158,059,000 after buying an additional 619,085 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Travere Therapeutics by 27.4% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,784,000 shares of the company's stock worth $41,203,000 after purchasing an additional 599,102 shares in the last quarter. Emerald Advisers LLC grew its position in Travere Therapeutics by 2.6% in the 3rd quarter. Emerald Advisers LLC now owns 2,146,767 shares of the company's stock valued at $51,308,000 after purchasing an additional 55,407 shares during the period. Geode Capital Management LLC increased its stake in Travere Therapeutics by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 2,003,701 shares of the company's stock valued at $29,658,000 after purchasing an additional 27,040 shares in the last quarter. Finally, Stephens Investment Management Group LLC raised its holdings in Travere Therapeutics by 7.6% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,721,623 shares of the company's stock worth $65,783,000 after buying an additional 121,955 shares during the last quarter.
Wall Street Analyst Weigh In
TVTX has been the topic of a number of analyst reports. TD Cowen reissued a "buy" rating on shares of Travere Therapeutics in a research note on Friday, October 31st. Piper Sandler reissued a "neutral" rating on shares of Travere Therapeutics in a report on Friday. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Travere Therapeutics in a report on Wednesday, January 21st. Citigroup boosted their target price on Travere Therapeutics from $34.00 to $48.00 and gave the stock a "buy" rating in a research report on Friday, October 31st. Finally, Guggenheim reiterated a "buy" rating and issued a $49.00 price objective on shares of Travere Therapeutics in a research report on Wednesday, January 14th. Twelve research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $38.86.
View Our Latest Stock Analysis on Travere Therapeutics
About Travere Therapeutics
(
Get Free Report)
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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