Five things to watch in markets in the week ahead
SAN DIEGO—Travere Therapeutics, Inc. (NASDAQ:TVTX), a biopharmaceutical company with a market capitalization of $1.84 billion, reported that its Chief Commercial Officer, Peter Heerma, executed a stock sale on February 3, 2025. According to a recent SEC filing, Heerma sold 5,166 shares of Travere Therapeutics’ common stock at an average price of $20.12 per share, totaling approximately $103,939. The stock is currently trading near its 52-week high of $21.56, according to InvestingPro data.
The sale was conducted to cover tax withholding obligations associated with the settlement of vested restricted stock units, as mandated by the company’s equity incentive plans. This transaction was not a discretionary trade by Heerma. The timing is notable as the stock has delivered an impressive 147% return over the past six months, based on InvestingPro analysis, which offers comprehensive insights through its Pro Research Reports covering 1,400+ US stocks.
Earlier, on January 31, 2025, Heerma acquired 21,500 shares of common stock at no cost, increasing his total holdings to 127,874 shares before the sale. Additionally, he was granted 58,000 employee stock options, exercisable at $20.46 each, with a vesting schedule that begins on the first anniversary of the grant date. Analysts maintain price targets ranging from $18 to $45 for the stock, suggesting significant potential volatility ahead.
In other recent news, Travere Therapeutics, a biopharmaceutical company, announced plans for an underwritten public offering of its common stock. The details of the offering, including its completion, timing, and size, are yet to be determined and rely on market conditions. Jefferies and Leerink Partners have been named as joint book-running managers for the deal. The offering is being made under an automatic shelf registration statement filed with the Securities and Exchange Commission (SEC).
Travere Therapeutics also disclosed that underwriters will have a 30-day option to purchase up to an additional 15% of the shares offered. However, the company has not revealed specific plans for the use of proceeds from the offering. It is worth noting that these are recent developments and the actual results could differ due to market conditions and the satisfaction of customary closing conditions. The company emphasizes that this is not 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 before registration or qualification under the securities laws of such state or jurisdiction.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.