Insider Selling at Travere Therapeutics (NASDAQ:TVTX): CEO Dube Sells Shares Following FDA Approval
In recent news, Travere Therapeutics, Inc. (NASDAQ:TVTX) saw its Chief Executive Officer, Eric M. Dube, sell 21,125 shares of common stock at an average price of $11.52, totaling approximately $243,360. The sale, which occurred on September 9, 2024, was part of a pre-arranged 10b5-1 trading plan to cover tax obligations related to the vesting of performance restricted stock units (PSUs). The PSUs vested following the FDA's full approval of FILSPARI (sparsentan) for IgA Nephropathy treatment.
Dube's direct ownership in Travere Therapeutics now stands at 361,975 shares, down from 383,100 before the sale. The company, formerly known as Retrophin Inc., focuses on developing drugs for rare diseases. The recent FDA approval of Filspari is expected to expand its market size and increase sales, with analysts raising price targets to $23.00 and $19.00.
Investors should monitor insider transactions for insights into company prospects, alongside financial health indicators like cash burn rate and market performance. Travere Therapeutics faces challenges in achieving profitability despite revenue growth, with a focus on developing rare disease treatments that require significant capital investment. The stock's recent overbought status and high Price / Book multiple suggest caution for potential investors. Further analysis is available for those interested in exploring investment opportunities in the company.