Trevi Therapeutics, Inc. $TRVI Shares Acquired by Eventide Asset Management LLC

Eventide Asset Management LLC lifted its holdings in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 89.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,622,306 shares of the company’s stock after purchasing an additional 1,240,982 shares during the quarter. Eventide Asset Management LLC owned about 2.05% of Trevi Therapeutics worth $32,831,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in TRVI. Russell Investments Group Ltd. lifted its position in shares of Trevi Therapeutics by 194.5% during the second quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock worth $25,000 after purchasing an additional 2,996 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new stake in shares of Trevi Therapeutics during the fourth quarter worth approximately $40,000. Strs Ohio purchased a new stake in shares of Trevi Therapeutics during the first quarter worth approximately $52,000. Rafferty Asset Management LLC purchased a new stake in shares of Trevi Therapeutics during the second quarter worth approximately $60,000. Finally, BIT Capital GmbH boosted its holdings in Trevi Therapeutics by 32.0% in the third quarter. BIT Capital GmbH now owns 6,739 shares of the company’s stock valued at $62,000 after purchasing an additional 1,633 shares in the last quarter. Institutional investors and hedge funds own 95.76% of the company’s stock.

Trevi Therapeutics Trading Up 5.6%

TRVI stock opened at $14.21 on Friday. The company has a market capitalization of $2.02 billion, a P/E ratio of -44.41 and a beta of 1.04. Trevi Therapeutics, Inc. has a twelve month low of $5.41 and a twelve month high of $16.12. The business has a 50 day simple moving average of $13.96 and a 200-day simple moving average of $12.49.

Trevi Therapeutics (NASDAQ:TRVI) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.02). Research analysts predict that Trevi Therapeutics, Inc. will post -0.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TRVI has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price target on shares of Trevi Therapeutics in a report on Wednesday, May 20th. Morgan Stanley reaffirmed an “overweight” rating and issued a $20.00 price target on shares of Trevi Therapeutics in a report on Wednesday, May 6th. Oppenheimer reaffirmed an “outperform” rating on shares of Trevi Therapeutics in a report on Monday, March 9th. Stifel Nicolaus set a $30.00 price target on Trevi Therapeutics in a report on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Trevi Therapeutics in a report on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $22.90.

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.