Bullish indicating open at $55-$60, IPO prices at $37
SAN DIEGO—Roy Baynes, a director at Travere Therapeutics, Inc. (NASDAQ:TVTX), recently sold 10,000 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The shares were sold on February 6 at a price of $22 each, totaling $220,000. The transaction occurred near the stock’s 52-week high of $22.25, with TVTX shares showing remarkable strength, having gained nearly 150% over the past year according to InvestingPro data.
This transaction was made under a pre-established trading plan, as outlined in Rule 10b5-1(c) of the Securities Exchange Act of 1934. The shares sold were part of a stock option granted to Baynes in 2017. With a market capitalization of $1.8 billion and analysts setting price targets ranging from $18 to $45, TVTX continues to draw investor attention.
In a separate transaction on the same day, Baynes exercised stock options to acquire 10,000 shares at a price of $17.44 per share, valued at $174,400. Following these transactions, Baynes holds 31,000 shares of Travere Therapeutics. For deeper insights into TVTX’s valuation and comprehensive analysis, investors can access the detailed Pro Research Report available on InvestingPro, which covers over 1,400 US stocks.
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