Key Points
- Director Roy Baynes sold 10,000 shares on April 6 at an average price of $33 for a total of $330,000 under a pre-arranged Rule 10b5-1 plan, cutting his ownership by 21.05% to 37,500 shares valued at $1,237,500.
- Travere's stock opened at $31.67 with a market cap of $2.92 billion and a 12‑month range of $12.91–$42.13; analysts collectively give a Moderate Buy consensus with a $39 average price target (10 Buys, 3 Holds, 1 Sell).
Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) Director Roy Baynes sold 10,000 shares of the stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $33.00, for a total transaction of $330,000.00. Following the sale, the director owned 37,500 shares in the company, valued at $1,237,500. The trade was a 21.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Travere Therapeutics Trading Down 0.5%
Shares of Travere Therapeutics stock opened at $31.67 on Wednesday. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of -105.56 and a beta of 0.86. The company has a quick ratio of 2.70, a current ratio of 2.74 and a debt-to-equity ratio of 2.71. Travere Therapeutics, Inc. has a 12-month low of $12.91 and a 12-month high of $42.13. The firm's 50-day moving average price is $29.27 and its two-hundred day moving average price is $31.01.
Analyst Ratings Changes
A number of brokerages have issued reports on TVTX. Guggenheim reiterated a "buy" rating and set a $49.00 price objective on shares of Travere Therapeutics in a research note on Wednesday, January 14th. Weiss Ratings restated a "sell (e+)" rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. Piper Sandler raised their price target on shares of Travere Therapeutics from $35.00 to $38.00 and gave the company a "neutral" rating in a research note on Friday, February 6th. JPMorgan Chase & Co. reduced their price target on shares of Travere Therapeutics from $44.00 to $41.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 25th. Finally, 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. Ten investment 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $39.00.
Get Our Latest Analysis on Travere Therapeutics
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. raised its holdings in Travere Therapeutics by 1,604.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,642 shares of the company's stock valued at $101,000 after buying an additional 2,487 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Travere Therapeutics in the 4th quarter valued at approximately $278,000. Empowered Funds LLC bought a new position in Travere Therapeutics in the 4th quarter valued at approximately $115,000. KVP Capital Advisors LP bought a new position in Travere Therapeutics in the 4th quarter valued at approximately $3,477,000. Finally, XTX Topco Ltd raised its holdings in Travere Therapeutics by 475.0% in the 4th quarter. XTX Topco Ltd now owns 60,680 shares of the company's stock valued at $2,319,000 after buying an additional 50,127 shares during the last quarter.
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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