Vanguard Group Inc. Acquires 607,669 Shares of Trevi Therapeutics, Inc. $TRVI

Vanguard Group Inc. boosted its holdings in Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 10.4% in the fourth quarter, HoldingsChannel reports. The firm owned 6,434,655 shares of the company’s stock after purchasing an additional 607,669 shares during the period. Vanguard Group Inc. owned approximately 0.05% of Trevi Therapeutics worth $80,562,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. NBC Securities Inc. increased its holdings in Trevi Therapeutics by 750.0% in the fourth quarter. NBC Securities Inc. now owns 17,000 shares of the company’s stock worth $213,000 after purchasing an additional 15,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Trevi Therapeutics by 85.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,681 shares of the company’s stock worth $584,000 after purchasing an additional 21,503 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Trevi Therapeutics by 32.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,231 shares of the company’s stock worth $78,000 after purchasing an additional 1,523 shares in the last quarter. SG Americas Securities LLC increased its holdings in Trevi Therapeutics by 93.0% in the fourth quarter. SG Americas Securities LLC now owns 124,562 shares of the company’s stock worth $1,560,000 after purchasing an additional 60,017 shares in the last quarter. Finally, Diversified Trust Co. increased its holdings in Trevi Therapeutics by 14.6% in the fourth quarter. Diversified Trust Co. now owns 20,984 shares of the company’s stock worth $263,000 after purchasing an additional 2,675 shares in the last quarter. 95.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TRVI shares. Wall Street Zen downgraded Trevi Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. HC Wainwright reiterated a “buy” rating and issued a $21.00 target price on shares of Trevi Therapeutics in a report on Wednesday, May 6th. Needham & Company LLC lowered their target price on Trevi Therapeutics from $24.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Oppenheimer reiterated an “outperform” rating on shares of Trevi Therapeutics in a report on Monday, March 9th. Finally, JonesTrading lowered their target price on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, March 19th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $22.90.

Trevi Therapeutics Stock Up 3.5%

NASDAQ TRVI opened at $15.27 on Thursday. The company has a market cap of $2.17 billion, a price-to-earnings ratio of -47.72 and a beta of 1.07. Trevi Therapeutics, Inc. has a 52 week low of $5.38 and a 52 week high of $16.12. The business has a 50 day moving average price of $12.93 and a 200-day moving average price of $12.07.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). On average, equities research analysts anticipate that Trevi Therapeutics, Inc. will post -0.45 earnings per share for the current year.

Trevi Therapeutics Profile

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel non-opioid therapies for the management of chronic and acute pain. The company leverages proprietary drug delivery platforms and targeted molecular approaches to address high unmet needs in cancer-related pain, chemotherapy-induced neuropathy and other severe pain conditions.

Its lead product candidate is a proprietary formulation of tetrodotoxin (TTX), a sodium-channel blocking agent being evaluated in early-stage clinical trials for moderate-to-severe pain associated with advanced cancer and peripheral neuropathy.