Key Points
- CEO Eric Dube sold 60,000 shares on April 1 at an average price of $30.93 for proceeds of $1,855,800 under a pre-arranged Rule 10b5-1 plan, cutting his ownership by 12.17% to 432,886 shares.
- Shares opened at $30.44 and were trading down about 3.1%; Travere has a market cap of $2.81 billion, a one-year range of $12.91–$42.13, and an average analyst rating of "Moderate Buy" with a $39 average price target.
Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) CEO Eric Dube sold 60,000 shares of the firm's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $30.93, for a total transaction of $1,855,800.00. Following the sale, the chief executive officer directly owned 432,886 shares of the company's stock, valued at approximately $13,389,163.98. The trade was a 12.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Travere Therapeutics Trading Down 3.1%
NASDAQ:TVTX opened at $30.44 on Friday. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of -101.46 and a beta of 0.86. Travere Therapeutics, Inc. has a one year low of $12.91 and a one year high of $42.13. The company has a debt-to-equity ratio of 2.71, a quick ratio of 2.70 and a current ratio of 2.74. The business's 50-day simple moving average is $29.18 and its 200 day simple moving average is $30.75.
Analyst Ratings Changes
A number of research firms have recently weighed in on TVTX. Piper Sandler lifted their price target on Travere Therapeutics from $35.00 to $38.00 and gave the company a "neutral" rating in a report on Friday, February 6th. JPMorgan Chase & Co. lowered their target price on Travere Therapeutics from $44.00 to $41.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 25th. Wall Street Zen lowered Travere Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 21st. Weiss Ratings reissued a "sell (e+)" rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. Finally, Guggenheim reissued a "buy" rating and set a $49.00 price target on shares of Travere Therapeutics in a report on Wednesday, January 14th. Ten research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $39.00.
Get Our Latest Stock Report on TVTX
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. State of Wyoming purchased a new stake in shares of Travere Therapeutics in the 4th quarter valued at approximately $37,000. Torren Management LLC purchased a new position in Travere Therapeutics during the 4th quarter worth approximately $38,000. Comerica Bank grew its position in Travere Therapeutics by 77.5% during the 4th quarter. Comerica Bank now owns 1,127 shares of the company's stock worth $43,000 after purchasing an additional 492 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in 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 during the period. Finally, First Horizon Corp purchased a new stake in shares of Travere Therapeutics in the third quarter valued at $36,000.
Travere Therapeutics Company Profile
(
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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