Travere Therapeutics, Inc. (NASDAQ:TVTX – Get Free Report) EVP Peter Heerma sold 8,282 shares of the stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $65.07, for a total transaction of $538,909.74. Following the sale, the executive vice president directly owned 117,066 shares of the company’s stock, valued at $7,617,484.62. This represents a 6.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Peter Heerma also recently made the following trade(s):
- On Tuesday, September 15th, Peter Heerma sold 102,190 shares of Travere Therapeutics stock. The stock was sold at an average price of $62.26, for a total transaction of $6,362,349.40.
- On Wednesday, September 16th, Peter Heerma sold 172,717 shares of Travere Therapeutics stock. The shares were sold at an average price of $63.43, for a total transaction of $10,955,439.31.
Travere Therapeutics Stock Up 2.0%
NASDAQ TVTX traded up $1.26 on Thursday, reaching $64.74. The company had a trading volume of 1,384,694 shares, compared to its average volume of 1,246,848. The company’s fifty day moving average is $61.63 and its 200-day moving average is $48.50. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of -140.74 and a beta of 1.05. The company has a debt-to-equity ratio of 24.58, a quick ratio of 3.99 and a current ratio of 4.05. Travere Therapeutics, Inc. has a 1-year low of $22.06 and a 1-year high of $68.73.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the company. Weiss Ratings lowered Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 23rd. Piper Sandler reaffirmed an “overweight” rating on shares of Travere Therapeutics in a research note on Monday, August 17th. Evercore set a $78.00 price objective on shares of Travere Therapeutics in a report on Monday, August 10th. Canaccord Genuity Group lifted their price objective on shares of Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Guggenheim boosted their price objective on shares of Travere Therapeutics from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Travere Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.
Get Our Latest Stock Analysis on Travere Therapeutics
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of TVTX. Jupiter Topco LLC acquired a new position in shares of Travere Therapeutics during the 2nd quarter worth approximately $643,299,000. Bank of America Corp DE acquired a new stake in shares of Travere Therapeutics in the 2nd quarter valued at approximately $259,527,000. Perceptive Advisors LLC grew its stake in shares of Travere Therapeutics by 12.7% in the fourth quarter. Perceptive Advisors LLC now owns 4,278,180 shares of the company’s stock valued at $163,469,000 after buying an additional 483,565 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Travere Therapeutics by 50.0% in the second quarter. Wellington Management Group LLP now owns 1,533,080 shares of the company’s stock valued at $87,094,000 after buying an additional 510,808 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Travere Therapeutics by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 2,143,495 shares of the company’s stock worth $81,915,000 after buying an additional 5,465 shares during the last quarter.
About Travere Therapeutics
Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare kidney and immune-mediated diseases. The company’s work is centered on conditions with significant unmet medical needs, including diseases that can lead to progressive kidney damage and kidney failure.
Travere’s principal commercial product is FILSPARI (sparsentan), an oral therapy for adults with primary immunoglobulin A nephropathy, or IgA nephropathy, who are at risk of disease progression.
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