Travere Therapeutics (NASDAQ:TVTX) Stock Price Down 7.9% – Should You Sell?

Travere Therapeutics, Inc. (NASDAQ:TVTX) traded down 7.9% on Friday . The company traded as low as $28.05 and last traded at $28.19. 1,404,713 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 2,488,922 shares. The stock had previously closed at $30.60.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Guggenheim reissued a “buy” rating and set a $49.00 target price on shares of Travere Therapeutics in a report on Wednesday, January 14th. Citigroup increased their price objective on shares of Travere Therapeutics from $34.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. Zacks Research cut Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, Piper Sandler raised their price target on Travere Therapeutics from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Eleven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.62.

Travere Therapeutics Stock Down 9.6%

The company has a debt-to-equity ratio of 4.23, a quick ratio of 2.71 and a current ratio of 2.75. The firm has a 50 day simple moving average of $33.40 and a two-hundred day simple moving average of $28.30. The stock has a market cap of $2.47 billion, a P/E ratio of -26.10, a P/E/G ratio of 0.83 and a beta of 0.83.

Insider Activity

In related news, insider Jula Inrig sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of $42.00, for a total transaction of $630,000.00. Following the sale, the insider owned 88,787 shares of the company’s stock, valued at $3,729,054. The trade was a 14.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William E. Rote sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of $40.10, for a total value of $2,406,000.00. Following the completion of the sale, the insider owned 101,443 shares of the company’s stock, valued at $4,067,864.30. This trade represents a 37.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 331,925 shares of company stock worth $11,318,755 in the last 90 days. 4.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TVTX. Emerald Advisers LLC boosted its position in shares of Travere Therapeutics by 2.6% in the third quarter. Emerald Advisers LLC now owns 2,146,767 shares of the company’s stock worth $51,308,000 after buying an additional 55,407 shares during the period. Capital Fund Management S.A. purchased a new position in Travere Therapeutics during the 2nd quarter valued at about $1,501,000. Essex Investment Management Co. LLC purchased a new stake in shares of Travere Therapeutics in the third quarter worth approximately $3,872,000. Squarepoint Ops LLC boosted its holdings in shares of Travere Therapeutics by 98.7% during the second quarter. Squarepoint Ops LLC now owns 479,394 shares of the company’s stock worth $7,095,000 after purchasing an additional 238,070 shares during the period. Finally, Voya Investment Management LLC grew its position in Travere Therapeutics by 16.2% during the third quarter. Voya Investment Management LLC now owns 194,854 shares of the company’s stock valued at $4,657,000 after purchasing an additional 27,133 shares in the last quarter.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.