Bullish indicating open at $55-$60, IPO prices at $37
Eric M. Dube, the Chief Executive Officer of Travere Therapeutics, Inc. (NASDAQ:TVTX), recently completed a significant stock transaction, selling 50,691 shares valued at approximately $1.02 million. The sale, executed on February 3, 2025, was conducted at a weighted average price of $20.21 per share, with the price range spanning from $19.76 to $20.56. According to InvestingPro data, the stock is trading near its 52-week high of $21.56, having delivered an impressive 155% return over the past year.
This transaction was part of a pre-arranged trading plan under Rule 10b5-1, which allows company insiders to set up a predetermined schedule for selling stocks to avoid any concerns over insider trading. The plan was adopted on March 15, 2024, and included sales to cover tax obligations arising from the vesting of restricted stock units. With analyst price targets ranging from $18 to $45, InvestingPro analysis indicates the stock is currently trading near its Fair Value, with multiple additional insights available in the comprehensive Pro Research Report.
Additionally, on January 31, 2025, Dube acquired 130,000 shares of common stock at no cost, increasing his total holdings to 481,239 shares post-transaction. This acquisition was part of a restricted stock unit grant, which represents a contingent right to receive shares of the company. Furthermore, Dube was granted an option to purchase 260,000 shares, with the option vesting over four years.
These transactions reflect Dube’s ongoing management of his equity stake in the company as he balances his holdings with tax obligations and long-term incentives.
In other recent news, Travere Therapeutics, Inc. has announced plans to conduct a public offering of its common stock. The biopharmaceutical company has not yet disclosed specific details regarding the use of proceeds from the offering. The size and timing of the offering, however, are dependent on market and other conditions.
Jefferies and Leerink Partners are managing the offering as joint book-running managers. They are offering the shares pursuant to an automatic shelf registration statement that became effective on August 1, 2024. In addition to the planned offering, Travere has provided underwriters a 30-day option to purchase up to an additional 15% of the shares offered.
These are the latest developments for Travere Therapeutics, a company dedicated to developing and delivering therapies for patients with rare diseases. It should be noted that the completion of the offering is subject to market conditions and the satisfaction of customary closing conditions. Travere emphasizes that this information does not constitute an offer to sell or a solicitation of an offer to buy the securities in any state or jurisdiction where such an offer would be unlawful.
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