Calamos Advisors LLC Sells 18,060 Shares of Travere Therapeutics, Inc. $TVTX

Key Points

• Calamos Advisors LLC cut its Travere Therapeutics stake by 25% in the first quarter, selling 18,060 shares and leaving it with 54,245 shares worth about $1.61 million.
• Insiders also sold shares recently, including Director Roy D. Baynes and insider Elizabeth E. Reed, with company insiders selling 122,513 shares worth $5.52 million over the last 90 days.
• Analysts remain mostly positive on TVTX, with multiple firms raising price targets; the stock now carries a consensus “Moderate Buy” rating and an average target price of $52.08.

Calamos Advisors LLC lessened its position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 25.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,245 shares of the company's stock after selling 18,060 shares during the quarter. Calamos Advisors LLC owned about 0.06% of Travere Therapeutics worth $1,612,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State of Wyoming acquired a new stake in shares of Travere Therapeutics in the fourth quarter valued at about $37,000. Torren Management LLC bought a new stake in Travere Therapeutics during the 4th quarter valued at approximately $38,000. Comerica Bank grew its holdings in Travere Therapeutics by 77.5% in the 4th quarter. Comerica Bank now owns 1,127 shares of the company's stock valued at $43,000 after buying an additional 492 shares during the last quarter. Fifth Third Bancorp acquired a new stake in Travere Therapeutics in the 1st quarter valued at approximately $35,000. Finally, Smartleaf Asset Management LLC increased its position in Travere Therapeutics by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company's stock worth $45,000 after buying an additional 487 shares during the period.

Insider Buying and Selling at Travere Therapeutics

In related news, Director Roy D. Baynes sold 4,500 shares of the company's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $50.00, for a total value of $225,000.00. Following the sale, the director owned 41,500 shares of the company's stock, valued at $2,075,000. The trade was a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth E. Reed sold 2,076 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $43.95, for a total transaction of $91,240.20. Following the completion of the transaction, the insider directly owned 105,211 shares of the company's stock, valued at $4,624,023.45. This trade represents a 1.93% decrease in their position. 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. Insiders sold 122,513 shares of company stock worth $5,517,326 in the last 90 days. 4.44% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TVTX shares. Guggenheim increased their price objective on Travere Therapeutics from $56.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, June 25th. HC Wainwright boosted their target price on shares of Travere Therapeutics from $57.00 to $67.00 and gave the stock a "buy" rating in a research report on Tuesday, June 2nd. Wedbush upped their target price on shares of Travere Therapeutics from $55.00 to $61.00 and gave the company an "outperform" rating in a research note on Monday, June 22nd. Wall Street Zen downgraded shares of Travere Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Travere Therapeutics from $44.00 to $41.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 25th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Travere Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $52.08.

Travere Therapeutics Stock Performance

Shares of NASDAQ TVTX opened at $56.74 on Thursday. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of -246.68 and a beta of 1.10. Travere Therapeutics, Inc. has a one year low of $15.03 and a one year high of $60.10. The business has a fifty day simple moving average of $50.46 and a 200 day simple moving average of $38.67. The company has a current ratio of 3.13, a quick ratio of 3.08 and a debt-to-equity ratio of 3.16.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.29. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The firm had revenue of $127.20 million for the quarter, compared to analyst estimates of $136.23 million. During the same quarter in the previous year, the firm posted ($0.47) EPS. The business's revenue for the quarter was up 55.6% on a year-over-year basis. Sell-side analysts expect that Travere Therapeutics, Inc. will post -0.25 EPS for the current year.

About Travere Therapeutics

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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