Bullish indicating open at $55-$60, IPO prices at $37
SAN DIEGO—William E. Rote, Senior Vice President of Research and Development at Travere Therapeutics, Inc. (NASDAQ:TVTX), recently sold a portion of his holdings in the company. According to a recent SEC filing, Rote sold 8,951 shares of Travere Therapeutics’ common stock on February 3, 2025, at a price of $19.78 per share, amounting to a total transaction value of $177,050. The transaction comes as Travere’s 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 Rote acquired 21,500 shares of common stock on January 31, 2025, as part of a restricted stock unit grant, with no cash changing hands for this transaction. Following these transactions, Rote holds 95,719 shares of Travere Therapeutics common stock. According to InvestingPro, the company, now valued at $1.84 billion, has attracted significant analyst attention with price targets ranging from $18 to $45 per share.
In addition, Rote was granted an employee stock option for 58,000 shares on January 31, 2025, with an exercise price of $20.46 per share, which will vest over a period of four years. The sale of shares was conducted under a pre-arranged trading plan established on March 15, 2024, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. This plan included the sale of shares to cover tax obligations arising from the vesting of restricted stock units. For deeper insights into Travere’s financial health and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Travere Therapeutics, a biopharmaceutical company, has announced plans to conduct an underwritten public offering of its common stock. The company is also offering underwriters a 30-day option to purchase an additional 15% of the shares. However, the completion, timing, and size of the offering are subject to market and other conditions, with no guarantee of execution. The offering is being managed by Jefferies and Leerink Partners, who are acting as joint book-running managers. The shares are being offered pursuant to an automatic shelf registration statement filed with the Securities and Exchange Commission. Travere has not disclosed specific details regarding the use of proceeds from the offering. These are recent developments for the company, which focuses on treatments for rare diseases.
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