Bullish indicating open at $55-$60, IPO prices at $37
SAN DIEGO—Inrig Jula, the Chief Medical (TASE:PMCN) Officer at Travere Therapeutics, Inc. (NASDAQ:TVTX), recently executed a series of stock transactions, according to a recent SEC Form 4 filing. On February 3 and 4, Jula sold a total of 5,273 shares of Travere Therapeutics common stock. The sales were conducted at prices of $20.12 and $20.11 per share, respectively, amounting to a combined total of $106,081. The timing of these transactions is notable as the stock trades near its 52-week high of $21.56, having delivered an impressive 155% return over the past year.
The filing also noted that Jula acquired 30,000 shares on January 31 as part of a restricted stock unit grant, though this transaction did not involve any cash exchange. Additionally, Jula received 100,000 employee stock options on the same day, which are set to vest over a period of four years. According to InvestingPro, analysts maintain a bullish outlook on Travere, with price targets ranging from $18 to $45 per share. Subscribers can access 8 additional exclusive ProTips and comprehensive analysis through the Pro Research Report.
The sales on February 3 were part of a mandated transaction to cover tax obligations related to the vesting of restricted stock units, as required by the company’s equity incentive plan. Meanwhile, the February 4 sale was executed under a pre-arranged trading plan compliant with Rule 10b5-1 of the Securities Exchange Act. Following these transactions, Jula holds 84,170 shares of Travere Therapeutics common stock, representing a stake in the company that currently maintains a market capitalization of $1.84 billion.
In other recent news, Travere Therapeutics, Inc., a biopharmaceutical company, has announced plans to conduct an underwritten public offering of its common stock. The company will give underwriters a 30-day option to purchase up to an additional 15% of the shares offered. However, the completion, timing, and size of the offering are subject to market and other conditions. The offering is being managed by Jefferies and Leerink Partners, with the shares being offered pursuant to an automatic shelf registration statement filed with the Securities and Exchange Commission. While Travere Therapeutics has not disclosed specific details regarding the use of proceeds from the offering, it’s worth noting that the company is dedicated to identifying, developing, and delivering life-changing therapies for patients with rare diseases. These are recent developments, and it’s important to mention that this announcement includes forward-looking statements, which are subject to risks and uncertainties.
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