Crispr Therapeutics shares tumble after significant earnings miss
SAN DIEGO—Elizabeth E. Reed, Senior Vice President, General Counsel, and Corporate Secretary of Travere Therapeutics, Inc. (NASDAQ:TVTX), recently sold 8,951 shares of the company’s common stock. The sale, which took place on February 3, 2025, was executed at a price of $19.78 per share, totaling $177,050. This transaction was conducted under a pre-established trading plan, as noted in a company filing. The timing is notable as InvestingPro data shows the stock trading near its 52-week high, following a strong three-month return and significant price appreciation over the past six months.
In addition to the sale, Reed acquired 21,500 shares of common stock on January 31, 2025, at no cost through restricted stock units. Following these transactions, Reed holds 89,482 shares of Travere’s common stock directly.
Reed also acquired 58,000 employee stock options at an exercise price of $20.46 per share, set to expire on January 31, 2035. These options vest over a four-year period, with one-fourth becoming exercisable on the first anniversary of the grant date, followed by monthly installments.
Travere Therapeutics, headquartered in San Diego, is a pharmaceutical company focused on developing therapies for rare diseases. While the company operates with moderate debt levels, InvestingPro analysis indicates it currently faces profitability challenges, though three analysts have recently revised their earnings expectations upward for the upcoming period.
In other recent news, Travere Therapeutics, Inc., a biopharmaceutical company, has announced plans for an underwritten public offering of its common stock. This offering, which includes an option for underwriters to purchase an additional 15% of shares, is being managed by Jefferies and Leerink Partners. However, the completion, timing, and size of the offering remain subject to market and other conditions. The company has not disclosed specific details regarding the use of proceeds from the offering. This move is part of recent developments and is being executed under an automatic shelf registration statement that was filed with the Securities and Exchange Commission. Travere emphasizes that the offering 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. The forward-looking statements in their announcement are based on current expectations and are subject to risks and uncertainties.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.