Travere Therapeutics, Inc. (NASDAQ:TVTX) Insider Jula Inrig Sells 2,191 Shares

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Jula Inrig sold 2,191 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $25,240.32. Following the transaction, the insider now owns 62,633 shares of the company’s stock, valued at approximately $721,532.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Travere Therapeutics Stock Performance

TVTX traded up $1.88 on Monday, reaching $12.86. The stock had a trading volume of 4,209,742 shares, compared to its average volume of 1,242,490. The business’s 50-day moving average price is $9.30 and its two-hundred day moving average price is $7.86. The company has a market cap of $979.02 million, a P/E ratio of -6.12 and a beta of 0.71. Travere Therapeutics, Inc. has a 12-month low of $5.12 and a 12-month high of $14.62. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.03). The business had revenue of $54.12 million during the quarter, compared to analysts’ expectations of $49.50 million. Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. Sell-side analysts forecast that Travere Therapeutics, Inc. will post -3.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Barclays lifted their target price on Travere Therapeutics from $12.00 to $14.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Wedbush lifted their target price on Travere Therapeutics from $13.00 to $16.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Piper Sandler boosted their price objective on shares of Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Citigroup increased their price target on shares of Travere Therapeutics from $14.00 to $23.00 and gave the company a “buy” rating in a research report on Friday. Finally, Guggenheim upgraded Travere Therapeutics from a “neutral” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.92.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. increased its holdings in Travere Therapeutics by 912.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock worth $18,200,000 after acquiring an additional 1,995,419 shares in the last quarter. Kynam Capital Management LP boosted its holdings in Travere Therapeutics by 105.6% in the 4th quarter. Kynam Capital Management LP now owns 2,000,000 shares of the company’s stock worth $17,980,000 after buying an additional 1,027,398 shares during the last quarter. Vanguard Group Inc. increased its stake in Travere Therapeutics by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock worth $48,310,000 after buying an additional 750,686 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Travere Therapeutics by 33.9% during the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock valued at $24,244,000 after acquiring an additional 747,406 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Travere Therapeutics in the fourth quarter valued at approximately $5,711,000.

Travere Therapeutics Company Profile

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.