SCHEDULE 13G/A: Armistice Capital and Steven Boyd Disclose 9.62% Stake in Travere Therapeutics
Beneficial Ownership Report
Armistice Capital, LLC and Steven Boyd have disclosed a beneficial ownership of 9.62% in Travere Therapeutics, Inc., totaling 7,358,000 shares of common stock.
Summary
- Armistice Capital, LLC and Steven Boyd (collectively, the "Reporting Persons") have filed an Amendment No. 4 to Schedule 13G regarding their beneficial ownership in Travere Therapeutics, Inc.
- The Reporting Persons collectively beneficially own 7,358,000 shares of Travere Therapeutics, Inc. common stock.
- This ownership represents 9.62% of the company's outstanding common stock.
- The percentage is calculated based on 76,491,485 shares outstanding as of July 29, 2024, as reported in the Issuer's Form 10-Q filed on October 31, 2024.
- Armistice Capital, LLC, a Delaware entity, acts as the investment manager for Armistice Capital Master Fund Ltd., which directly holds the shares.
- Steven Boyd, a U.S. citizen, is the managing member of Armistice Capital, LLC.
- Both Armistice Capital, LLC and Steven Boyd share voting and dispositive power over all 7,358,000 shares.
- The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.
Sentiment
Score: 6
Explanation: The document is a factual disclosure of beneficial ownership. While a significant stake by an institutional investor can be viewed positively by the market as a vote of confidence, the filing itself is neutral in tone and does not provide performance or strategic insights from the company. The score reflects a slightly positive interpretation due to the institutional investment, but acknowledges the document's purely informational nature.
Positives
- A significant stake (9.62%) held by an institutional investor like Armistice Capital could be interpreted as a vote of confidence in Travere Therapeutics' long-term prospects.
- The filing indicates a passive investment, not an activist one, which might suggest stability and a lack of immediate intent to influence company control.
Future Outlook
NA
Industry Context
Travere Therapeutics, Inc. operates in the biotechnology and pharmaceutical sector, focusing on developing and commercializing therapies. This filing indicates a significant investment by Armistice Capital, a firm known for its healthcare sector investments, suggesting continued institutional interest in the biotech space.
Stakeholder Impact
- Shareholders may view the significant stake held by Armistice Capital as a positive signal, potentially indicating institutional confidence in Travere Therapeutics.
- The filing clarifies the ownership structure, providing transparency to all stakeholders regarding a major investor's position.
Key Dates
| Date | Description |
|---|---|
| 2024-07-29 | Date of shares outstanding calculation (76,491,485 shares) as reported in Issuer's Form 10-Q. |
| 2024-10-31 | Date Issuer's Form 10-Q was filed with the SEC, reporting shares outstanding as of July 29, 2024. |
| 2024-12-31 | Date of event which requires filing of this statement (end of reporting period). |
| 2025-02-14 | Date of filing of this Schedule 13G Amendment No. 4. |
Keywords
Travere Therapeutics, Armistice Capital, Steven Boyd, Schedule 13G, Beneficial Ownership, Common Stock, SEC Filing, Investment Management, Biotechnology, Pharmaceuticals
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