Kingswood Wealth Advisors LLC Invests $80,000 in Trevi Therapeutics, Inc. $TRVI

Kingswood Wealth Advisors LLC purchased a new position in Trevi Therapeutics, Inc. (NASDAQ:TRVI) in the 2nd quarter, HoldingsChannel reports. The fund purchased 14,632 shares of the company’s stock, valued at approximately $80,000.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Trevi Therapeutics by 9.4% in the 1st quarter. Vanguard Group Inc. now owns 3,838,032 shares of the company’s stock worth $24,141,000 after purchasing an additional 328,819 shares during the last quarter. MPM Bioimpact LLC raised its position in shares of Trevi Therapeutics by 10.8% in the 1st quarter. MPM Bioimpact LLC now owns 3,428,366 shares of the company’s stock worth $21,564,000 after purchasing an additional 333,470 shares during the last quarter. Octagon Capital Advisors LP purchased a new position in shares of Trevi Therapeutics in the 1st quarter worth about $20,895,000. Armistice Capital LLC bought a new stake in Trevi Therapeutics in the 1st quarter worth about $18,795,000. Finally, Acorn Capital Advisors LLC increased its holdings in Trevi Therapeutics by 7.2% in the 1st quarter. Acorn Capital Advisors LLC now owns 2,144,844 shares of the company’s stock worth $13,491,000 after buying an additional 143,796 shares in the last quarter. Hedge funds and other institutional investors own 95.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Cantor Fitzgerald assumed coverage on Trevi Therapeutics in a report on Tuesday, July 1st. They issued an “overweight” rating and a $25.00 price objective for the company. Raymond James Financial reduced their price objective on Trevi Therapeutics from $29.00 to $27.00 and set a “strong-buy” rating for the company in a report on Friday, August 8th. Needham & Company LLC reduced their price objective on Trevi Therapeutics from $24.00 to $22.00 and set a “buy” rating for the company in a report on Friday, August 8th. Morgan Stanley assumed coverage on Trevi Therapeutics in a report on Thursday, August 21st. They issued an “overweight” rating and a $18.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Trevi Therapeutics in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $21.75.

Trevi Therapeutics Stock Up 0.7%

Trevi Therapeutics stock opened at $9.99 on Monday. The business has a 50-day simple moving average of $8.15 and a two-hundred day simple moving average of $6.98. The company has a market cap of $1.22 billion, a P/E ratio of -23.79 and a beta of 0.74. Trevi Therapeutics, Inc. has a 52-week low of $2.36 and a 52-week high of $10.16.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. Research analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal year.

About Trevi Therapeutics

Trevi Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapy Haduvio for the treatment of chronic cough in idiopathic pulmonary fibrosis (IPF) and refractory chronic cough (RCC) conditions targeting the central and peripheral nervous systems.