Key Points
- Director Roy Baynes sold 9,750 shares on May 1 at an average price of $44.22 for total proceeds of $431,145, cutting his stake by 20.63% to 37,500 shares (worth about $1.66M).
- The transaction was executed under a pre-arranged Rule 10b5-1 trading plan and was disclosed in an SEC Form 4 filing.
- Analysts maintain a Moderate Buy consensus (10 Buys, 2 Holds, 1 Sell) with an average target price of $42.67, while the stock trades near its one‑year high and the company has a market cap of roughly $4.15 billion.
Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) Director Roy Baynes sold 9,750 shares of the business's stock in a transaction on 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 sale, the director directly owned 37,500 shares in the company, valued at approximately $1,658,250. This represents a 20.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Travere Therapeutics Price Performance
Shares of TVTX stock opened at $44.91 on Tuesday. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.74 and a quick ratio of 2.70. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of -149.70 and a beta of 1.13. Travere Therapeutics, Inc. has a one year low of $13.88 and a one year high of $45.43. The stock's fifty day simple moving average is $32.02 and its 200 day simple moving average is $32.59.
Institutional Trading of Travere Therapeutics
Hedge funds and other institutional investors have recently made changes to their positions in the business. State of Wyoming bought a new position in Travere Therapeutics in the 4th quarter worth approximately $37,000. Torren Management LLC bought a new position in Travere Therapeutics in the 4th quarter worth approximately $38,000. Comerica Bank raised its position in Travere Therapeutics by 77.5% in the 4th quarter. Comerica Bank now owns 1,127 shares of the company's stock worth $43,000 after purchasing an additional 492 shares during the last quarter. Fifth Third Bancorp bought a new position in Travere Therapeutics in the 1st quarter worth approximately $35,000. Finally, Smartleaf Asset Management LLC raised its position in Travere Therapeutics by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company's stock worth $45,000 after purchasing an additional 487 shares during the last quarter.
Wall Street Analysts Forecast Growth
TVTX has been the topic of several research analyst reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. Citigroup upped their price objective on shares of Travere Therapeutics from $48.00 to $53.00 and gave the stock a "buy" rating in a research note on Tuesday, April 14th. Wall Street Zen cut shares of Travere Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 21st. Wedbush raised their target price on Travere Therapeutics from $39.00 to $44.00 and gave the company an "outperform" rating in a research note on Tuesday, April 14th. Finally, HC Wainwright restated a "buy" rating and issued a $47.00 target price on shares of Travere Therapeutics in a research note on Tuesday, April 14th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $42.67.
Read Our Latest Research Report on TVTX
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.
Further Reading
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