Roy D. Baynes Sells 10,000 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Roy D. Baynes sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $220,000.00. Following the sale, the director now owns 31,000 shares of the company’s stock, valued at approximately $682,000. This represents a 24.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $21.10 on Tuesday. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. The stock has a 50-day simple moving average of $18.89 and a two-hundred day simple moving average of $15.81. The firm has a market capitalization of $1.65 billion, a PE ratio of -4.64 and a beta of 0.72. Travere Therapeutics, Inc. has a 52-week low of $5.12 and a 52-week high of $22.25.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Aigen Investment Management LP bought a new stake in Travere Therapeutics during the 3rd quarter worth approximately $170,000. Oppenheimer & Co. Inc. bought a new stake in shares of Travere Therapeutics during the 3rd quarter valued at $673,000. FMR LLC lifted its stake in shares of Travere Therapeutics by 27.5% during the 3rd quarter. FMR LLC now owns 147,416 shares of the company’s stock valued at $2,062,000 after buying an additional 31,772 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in Travere Therapeutics by 30.2% in the 3rd quarter. Two Sigma Advisers LP now owns 720,400 shares of the company’s stock worth $10,078,000 after buying an additional 167,100 shares during the period. Finally, Geode Capital Management LLC increased its stake in Travere Therapeutics by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock worth $24,222,000 after buying an additional 64,744 shares in the last quarter.

Analyst Ratings Changes

Several research firms recently commented on TVTX. Cantor Fitzgerald initiated coverage on Travere Therapeutics in a research report on Friday, January 10th. They set an “overweight” rating on the stock. Scotiabank raised their price target on shares of Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a report on Friday, November 1st. Piper Sandler lifted their price target on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. 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 research report on Wednesday, January 15th. Finally, Barclays lifted their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

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.