Travere Therapeutics, Inc. (NASDAQ:TVTX) CFO Sells $104,463.04 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CFO Christopher R. Cline sold 5,192 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $20.12, for a total transaction of $104,463.04. Following the transaction, the chief financial officer now directly owns 90,038 shares of the company’s stock, valued at $1,811,564.56. The trade was a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Travere Therapeutics Trading Up 3.1 %

Travere Therapeutics stock opened at $21.86 on Friday. Travere Therapeutics, Inc. has a 12-month low of $5.12 and a 12-month high of $22.13. The firm has a 50-day moving average price of $18.80 and a 200-day moving average price of $15.56. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. HC Wainwright increased their price objective on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $9.00 to $27.00 in a research note on Monday, October 21st. Cantor Fitzgerald initiated coverage on Travere Therapeutics in a research note on Friday, January 10th. They issued an “overweight” rating on the stock. Barclays upped their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Piper Sandler raised their target price on shares of Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Institutional Trading of Travere Therapeutics

Several institutional investors have recently added to or reduced their stakes in TVTX. Arizona State Retirement System raised its holdings in shares of Travere Therapeutics by 13.5% in the fourth quarter. Arizona State Retirement System now owns 22,396 shares of the company’s stock worth $390,000 after buying an additional 2,666 shares during the period. Aigen Investment Management LP grew its position in Travere Therapeutics by 56.6% in the 4th quarter. Aigen Investment Management LP now owns 19,072 shares of the company’s stock valued at $332,000 after acquiring an additional 6,892 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in Travere Therapeutics in the fourth quarter worth $182,000. Charles Schwab Investment Management Inc. lifted its position in shares of Travere Therapeutics by 16.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 661,603 shares of the company’s stock worth $11,525,000 after purchasing an additional 94,194 shares during the last quarter. Finally, US Bancorp DE lifted its position in shares of Travere Therapeutics by 323.4% during the fourth quarter. US Bancorp DE now owns 31,795 shares of the company’s stock worth $554,000 after purchasing an additional 24,286 shares during the last quarter.

About Travere Therapeutics

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.