Travere Therapeutics (NASDAQ:TVTX) Trading Down 4.2% – Here’s What Happened

Travere Therapeutics, Inc. (NASDAQ:TVTX)’s share price fell 4.2% on Tuesday . The stock traded as low as $17.81 and last traded at $17.81. 88,018 shares were traded during trading, a decline of 92% from the average session volume of 1,071,796 shares. The stock had previously closed at $18.59.

Analyst Ratings Changes

A number of research firms have recently issued reports on TVTX. HC Wainwright lifted their target price on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company upgraded Travere Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $9.00 to $27.00 in a research report on Monday, October 21st. Citigroup decreased their target price on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, September 27th. Piper Sandler lifted their price target on Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, Wedbush upped their price target on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $24.00.

Travere Therapeutics Stock Performance

The stock’s 50 day moving average is $18.23 and its two-hundred day moving average is $14.37. The firm has a market capitalization of $1.44 billion, a P/E ratio of -4.05 and a beta of 0.70. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.71) by $0.01. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The company had revenue of $62.90 million during the quarter, compared to analysts’ expectations of $60.87 million. During the same quarter in the previous year, the company posted ($1.17) EPS. The business’s revenue for the quarter was up 69.6% compared to the same quarter last year. As a group, equities analysts anticipate that Travere Therapeutics, Inc. will post -3.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Travere Therapeutics news, insider Jula Inrig sold 2,066 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $19.10, for a total value of $39,460.60. Following the completion of the sale, the insider now owns 59,883 shares of the company’s stock, valued at approximately $1,143,765.30. This represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sandra Calvin sold 15,000 shares of Travere Therapeutics stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $17.22, for a total transaction of $258,300.00. Following the transaction, the chief accounting officer now directly owns 54,927 shares in the company, valued at approximately $945,842.94. This represents a 21.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,596 shares of company stock worth $527,262. Insiders own 4.06% of the company’s stock.

Institutional Trading of Travere Therapeutics

Several hedge funds have recently added to or reduced their stakes in TVTX. CWM LLC grew its stake in Travere Therapeutics by 158.5% in the third quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after acquiring an additional 3,065 shares during the period. DRW Securities LLC bought a new position in shares of Travere Therapeutics during the 2nd quarter valued at about $95,000. Quarry LP acquired a new position in shares of Travere Therapeutics in the 3rd quarter valued at approximately $105,000. Forefront Analytics LLC grew its position in shares of Travere Therapeutics by 10.2% in the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after purchasing an additional 1,237 shares during the period. Finally, Sei Investments Co. acquired a new stake in Travere Therapeutics during the 2nd quarter worth approximately $117,000.

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.