Acorn Capital Advisors LLC Takes Position in Trevi Therapeutics, Inc. (NASDAQ:TRVI)

Acorn Capital Advisors LLC acquired a new position in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,001,048 shares of the company's stock, valued at approximately $8,244,000. Trevi Therapeutics accounts for 4.5% of Acorn Capital Advisors LLC's portfolio, making the stock its 8th largest position. Acorn Capital Advisors LLC owned about 2.60% of Trevi Therapeutics at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of Trevi Therapeutics by 220.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 100,517 shares of the company's stock worth $336,000 after purchasing an additional 69,167 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Trevi Therapeutics by 10.2% during the third quarter. Geode Capital Management LLC now owns 1,264,166 shares of the company's stock valued at $4,223,000 after acquiring an additional 117,418 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Trevi Therapeutics by 14.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 173,063 shares of the company's stock valued at $713,000 after acquiring an additional 22,145 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Trevi Therapeutics by 42.0% in the fourth quarter. Renaissance Technologies LLC now owns 100,400 shares of the company's stock valued at $414,000 after acquiring an additional 29,700 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Trevi Therapeutics by 180.8% in the third quarter. Barclays PLC now owns 95,232 shares of the company's stock worth $319,000 after acquiring an additional 61,317 shares during the last quarter. 95.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Trevi Therapeutics news, insider Farrell Simon sold 81,313 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $6.75, for a total transaction of $548,862.75. Following the sale, the insider now directly owns 76,900 shares in the company, valued at $519,075. This represents a 51.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jennifer L. Good sold 5,263 shares of the business's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $6.58, for a total transaction of $34,630.54. Following the completion of the transaction, the chief executive officer now owns 213,313 shares of the company's stock, valued at approximately $1,403,599.54. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders own 24.37% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TRVI shares. Raymond James raised shares of Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and lifted their target price for the stock from $9.00 to $29.00 in a research note on Monday, March 10th. D. Boral Capital restated a "buy" rating and set a $21.00 price target on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Needham & Company LLC reaffirmed a "buy" rating and set a $24.00 price objective on shares of Trevi Therapeutics in a research note on Tuesday, April 8th. B. Riley reissued a "buy" rating and issued a $20.00 target price (up from $11.00) on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Finally, HC Wainwright restated a "buy" rating and issued a $12.50 price target on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Seven analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $17.56.

Trevi Therapeutics Price Performance

Shares of TRVI stock traded up $0.16 during trading hours on Wednesday, hitting $6.74. The company had a trading volume of 260,695 shares, compared to its average volume of 1,810,838. The stock has a market capitalization of $673.28 million, a PE ratio of -15.32 and a beta of 0.62. The company's fifty day moving average is $6.02 and its 200 day moving average is $4.46. Trevi Therapeutics, Inc. has a fifty-two week low of $2.30 and a fifty-two week high of $7.39.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($0.11) earnings per share for the quarter, beating analysts' consensus estimates of ($0.12) by $0.01. Equities analysts forecast that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current year.

Trevi Therapeutics Profile

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.