Peregrine Capital Management LLC Lowers Position in Trevi Therapeutics, Inc. $TRVI

Peregrine Capital Management LLC lessened its holdings in Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 18.2% during the 4th quarter, HoldingsChannel reports. The firm owned 507,685 shares of the company’s stock after selling 112,779 shares during the period. Peregrine Capital Management LLC’s holdings in Trevi Therapeutics were worth $6,356,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Pivotal bioVenture Partners Investment Advisor LLC increased its position in Trevi Therapeutics by 9.7% in the third quarter. Pivotal bioVenture Partners Investment Advisor LLC now owns 1,256,782 shares of the company’s stock worth $11,500,000 after purchasing an additional 110,672 shares during the last quarter. SG Americas Securities LLC increased its position 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 during the last quarter. Optimize Financial Inc bought a new stake in Trevi Therapeutics in the third quarter worth $554,000. Nan Fung Trinity HK Ltd. bought a new stake in Trevi Therapeutics in the third quarter worth $820,000. Finally, DLD Asset Management LP bought a new stake in Trevi Therapeutics in the third quarter worth $503,000. Institutional investors own 95.76% of the company’s stock.

Trevi Therapeutics Stock Down 4.1%

TRVI stock opened at $14.19 on Friday. Trevi Therapeutics, Inc. has a twelve month low of $5.38 and a twelve month high of $16.12. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of -44.34 and a beta of 0.99. The firm’s fifty day simple moving average is $12.12 and its two-hundred day simple moving average is $11.70.

Trevi Therapeutics (NASDAQ:TRVI) last posted its quarterly earnings data on Tuesday, March 17th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. As a group, equities research analysts expect that Trevi Therapeutics, Inc. will post -0.46 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on TRVI. Morgan Stanley reduced their price target on shares of Trevi Therapeutics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 18th. D. Boral Capital restated a “buy” rating and issued a $19.00 price target on shares of Trevi Therapeutics in a research report on Friday, April 17th. Needham & Company LLC boosted their price target on shares of Trevi Therapeutics from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Monday. Finally, Oppenheimer restated an “outperform” rating on shares of Trevi Therapeutics in a research report on Monday, March 9th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $21.60.

Trevi Therapeutics Company 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.