Calamos Advisors LLC Buys Shares of 72,305 Travere Therapeutics, Inc. $TVTX

Key Points

• Calamos Advisors bought a new stake of 72,305 shares of Travere Therapeutics valued at about $2.76 million, representing roughly 0.08% of the company at quarter-end.
• Other institutions either added or started multimillion-dollar positions (Emerald Advisers now owns 2,146,767 shares worth ~$51.3M; Essex, Palisades, Lisanti and Apis also initiated stakes), while insiders have sold 505,034 shares (~$17.93M) in the last 90 days, leaving insiders with 4.44% ownership.
• Shares trade near $40.56 with a market cap of $3.75B; the consensus rating is a Moderate Buy with a $42.67 target, and several analysts recently raised price targets into the $44–$56 range.

Calamos Advisors LLC bought a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 72,305 shares of the company's stock, valued at approximately $2,763,000. Calamos Advisors LLC owned 0.08% of Travere Therapeutics at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Emerald Advisers LLC increased its stake in Travere Therapeutics by 2.6% in the 3rd quarter. Emerald Advisers LLC now owns 2,146,767 shares of the company's stock valued at $51,308,000 after buying an additional 55,407 shares during the period. Essex Investment Management Co. LLC acquired a new stake in shares of Travere Therapeutics in the 3rd quarter worth $3,872,000. Palisades Investment Partners LLC purchased a new stake in shares of Travere Therapeutics in the fourth quarter valued at about $5,264,000. Lisanti Capital Growth LLC purchased a new stake in shares of Travere Therapeutics in the third quarter valued at about $3,095,000. Finally, Apis Capital Advisors LLC acquired a new position in shares of Travere Therapeutics during the third quarter worth about $3,967,000.

Travere Therapeutics Stock Up 0.1%

Shares of NASDAQ TVTX opened at $40.56 on Monday. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of -135.19 and a beta of 0.86. Travere Therapeutics, Inc. has a 52 week low of $13.88 and a 52 week high of $43.31. The firm has a 50-day moving average price of $31.02 and a 200 day moving average price of $32.16. The company has a quick ratio of 2.70, a current ratio of 2.74 and a debt-to-equity ratio of 2.71.

Analysts Set New Price Targets

Several research analysts recently issued reports on TVTX shares. HC Wainwright reissued a "buy" rating and set a $47.00 price target on shares of Travere Therapeutics in a report on Tuesday, April 14th. Wedbush lifted their price objective on Travere Therapeutics from $39.00 to $44.00 and gave the company an "outperform" rating in a report on Tuesday, April 14th. Canaccord Genuity Group increased their target price on Travere Therapeutics from $47.00 to $56.00 and gave the stock a "buy" rating in a research note on Tuesday, April 14th. Piper Sandler raised Travere Therapeutics from a "neutral" rating to an "overweight" rating and set a $49.00 price target for the company in a report on Tuesday, April 14th. Finally, Wall Street Zen downgraded Travere Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 21st. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.67.

Insider Activity at Travere Therapeutics

In other news, insider Jula Inrig sold 1,018 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $42.61, for a total transaction of $43,376.98. Following the sale, the insider owned 111,473 shares of the company's stock, valued at $4,749,864.53. The trade was a 0.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Christopher R. Cline sold 1,014 shares of the business's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $42.61, for a total value of $43,206.54. Following the sale, the chief financial officer owned 116,899 shares in the company, valued at approximately $4,981,066.39. The trade was a 0.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 505,034 shares of company stock worth $17,930,860. 4.44% of the stock is currently owned by company insiders.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc NASDAQ: TVTX is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company's mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company's lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.

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