Opaleye Management Inc. trimmed its position in Trevi Therapeutics, Inc. (NASDAQ:TRVI – Free Report) by 10.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 310,000 shares of the company’s stock after selling 35,100 shares during the quarter. Opaleye Management Inc.’s holdings in Trevi Therapeutics were worth $5,782,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Candriam S.C.A. bought a new position in shares of Trevi Therapeutics during the first quarter valued at about $9,229,000. Assenagon Asset Management S.A. purchased a new stake in shares of Trevi Therapeutics during the second quarter worth about $28,447,000. Vanguard Group Inc. grew its stake in shares of Trevi Therapeutics by 10.4% in the fourth quarter. Vanguard Group Inc. now owns 6,434,655 shares of the company’s stock worth $80,562,000 after purchasing an additional 607,669 shares during the last quarter. Walleye Capital LLC bought a new stake in shares of Trevi Therapeutics in the second quarter worth about $4,513,000. Finally, Fifth Third Bancorp purchased a new position in Trevi Therapeutics during the 1st quarter valued at about $1,531,000. 95.76% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research analysts have commented on TRVI shares. Morgan Stanley reaffirmed an “overweight” rating and set a $23.00 price target on shares of Trevi Therapeutics in a research report on Friday, August 7th. Wall Street Zen lowered Trevi Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Oppenheimer boosted 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. B. Riley Financial upped their target price on Trevi Therapeutics from $21.00 to $31.00 and gave the company a “buy” rating in a report on Monday, July 20th. Finally, BMO Capital Markets started coverage on Trevi Therapeutics in a research note on Monday, July 20th. They issued an “outperform” rating and a $36.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $27.08.
Trevi Therapeutics Price Performance
Shares of NASDAQ:TRVI opened at $15.91 on Friday. The business has a fifty day moving average price of $17.84 and a 200-day moving average price of $15.19. The company has a market capitalization of $2.27 billion, a PE ratio of -46.79 and a beta of 1.04. Trevi Therapeutics, Inc. has a 1-year low of $7.64 and a 1-year high of $20.22.
Trevi Therapeutics (NASDAQ:TRVI – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11). On average, sell-side analysts anticipate that Trevi Therapeutics, Inc. will post -0.48 earnings per share for the current fiscal year.
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.
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