Walleye Capital LLC Invests $4.51 Million in Trevi Therapeutics, Inc. $TRVI

Walleye Capital LLC bought a new stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 241,987 shares of the company’s stock, valued at approximately $4,513,000.

A number of other large investors have also added to or reduced their stakes in the company. Hilton Head Capital Partners LLC increased its stake in Trevi Therapeutics by 32.6% during the 1st quarter. Hilton Head Capital Partners LLC now owns 4,250 shares of the company’s stock worth $51,000 after buying an additional 1,044 shares during the period. AlphaCentric Advisors LLC boosted its position in Trevi Therapeutics by 5.7% in the 1st quarter. AlphaCentric Advisors LLC now owns 23,970 shares of the company’s stock valued at $286,000 after buying an additional 1,303 shares during the last quarter. Kennedy Capital Management LLC boosted its position in Trevi Therapeutics by 2.4% in the 4th quarter. Kennedy Capital Management LLC now owns 56,269 shares of the company’s stock valued at $704,000 after buying an additional 1,336 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Trevi Therapeutics by 32.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,231 shares of the company’s stock valued at $78,000 after acquiring an additional 1,523 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in shares of Trevi Therapeutics by 2.1% during the fourth quarter. Oppenheimer & Co. Inc. now owns 100,698 shares of the company’s stock worth $1,261,000 after acquiring an additional 2,030 shares during the last quarter. 95.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. B. Riley Financial increased their price target on Trevi Therapeutics from $21.00 to $31.00 and gave the company a “buy” rating in a report on Monday, July 20th. Cantor Fitzgerald upped their target price on Trevi Therapeutics from $25.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Oppenheimer increased their target price on Trevi Therapeutics from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Needham & Company LLC reissued a “buy” rating and set a $23.00 price target on shares of Trevi Therapeutics in a research report on Wednesday, May 20th. Finally, Wall Street Zen lowered shares of Trevi Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $27.08.

Trevi Therapeutics Stock Performance

NASDAQ:TRVI opened at $18.46 on Friday. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of -54.29 and a beta of 1.03. Trevi Therapeutics, Inc. has a one year low of $6.93 and a one year high of $20.22. The stock has a 50-day simple moving average of $17.41 and a 200 day simple moving average of $14.27.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). On average, equities research analysts forecast that Trevi Therapeutics, Inc. will post -0.48 EPS for the current fiscal 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.