Deutsche Bank AG Makes New Investment in Trevi Therapeutics, Inc. $TRVI

Deutsche Bank AG bought a new stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) during the second quarter, Holdings Channel reports. The fund bought 114,487 shares of the company’s stock, valued at approximately $2,135,000.

Several other large investors have also modified their holdings of the business. Russell Investments Group Ltd. boosted its stake 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 valued at $25,000 after purchasing an additional 2,996 shares in the last quarter. KBC Group NV bought a new position in Trevi Therapeutics in the first quarter worth approximately $29,000. Hilton Head Capital Partners LLC bought a new position in Trevi Therapeutics in the fourth quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd purchased a new stake in Trevi Therapeutics during the fourth quarter worth $50,000. Finally, Strs Ohio bought a new stake in Trevi Therapeutics during the 1st quarter valued at $52,000. Institutional investors own 95.76% of the company’s stock.

Trevi Therapeutics Stock Performance

Shares of NASDAQ TRVI opened at $17.96 on Friday. The company has a market cap of $2.56 billion, a PE ratio of -52.82 and a beta of 1.03. The business has a 50-day simple moving average of $18.05 and a two-hundred day simple moving average of $14.76. Trevi Therapeutics, Inc. has a fifty-two week low of $6.93 and a fifty-two week high of $20.22.

Trevi Therapeutics (NASDAQ:TRVI) last posted 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, sell-side analysts predict that Trevi Therapeutics, Inc. will post -0.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TRVI shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Trevi Therapeutics in a report on Friday, July 17th. JonesTrading raised their price objective on Trevi Therapeutics from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Morgan Stanley reiterated an “overweight” rating and issued a $23.00 target price on shares of Trevi Therapeutics in a research note on Friday, August 7th. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 target price on shares of Trevi Therapeutics in a report on Wednesday, May 20th. Finally, B. Riley Financial increased their price target on shares of Trevi Therapeutics from $21.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $27.08.

About Trevi Therapeutics

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.