The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Travere Therapeutics Inc shares valued at $166,435 were sold by Dube Eric M on Feb 01 ’24. At $8.70 per share, Dube Eric M sold 19,122 shares. The insider’s holdings dropped to 350,600 shares worth approximately $2.35 million following the completion of this transaction.
Also, REED ELIZABETH E sold 4,764 shares, netting a total of over 41,495 in proceeds. Following the sale of shares at $8.71 each, the insider now holds 76,270 shares.
Before that, ROTE WILLIAM E. had sold 4,764 shares from its account. In a trade valued at $41,495, the SENIOR VICE PRESIDENT, R&D traded Travere Therapeutics Inc shares for $8.71 each. Upon closing the transaction, the insider’s holdings decreased to 4,764 shares, worth approximately $0.54 million.
As published in a research note from Guggenheim on March 27, 2024, Travere Therapeutics Inc [TVTX] has been rated down from a Buy to a Neutral. Analysts at Citigroup upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early December. As of November 20, 2023, Citigroup has initiated its “Neutral” rating for TVTX. Earlier on September 22, 2023, Wells Fargo downgraded its rating. Their new recommendation was “an Equal weight” for TVTX stock which previously was a “an Overweight”.
Analyzing TVTX Stock Performance
During the last five days, there has been a drop of approximately -3.74%. Over the course of the year, Travere Therapeutics Inc shares have dropped approximately -25.58%. Shares of the company reached a 52-week high of $10.27 on 01/10/24 and a 52-week low of $6.43 on 04/10/24. A 50-day SMA is recorded $7.88, while a 200-day SMA reached $9.93. Nevertheless, trading volume fell to 1.9 million shares from 0.76 million shares the previous day.
Support And Resistance Levels for Travere Therapeutics Inc (TVTX)
According to the 24-hour chart, there is a support level at 6.53, which, if violated, would cause prices to drop to 6.36. In the upper region, resistance lies at 6.85. The next price resistance is at 7.01. RSI (Relative Strength Index) is 34.98 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.48, which suggests the price will decrease in the coming days. Percent R is at 84.80%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Travere Therapeutics Inc subject to short interest?
Stocks of Travere Therapeutics Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.31 million shares to 10.07 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 9.76 million shares. A jump of 3.08% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 7.98 of the overall float, the days-to-cover ratio (short ratio) jumped to 7.98.
