Acorn Capital Advisors LLC Invests $8.24 Million in Trevi Therapeutics, Inc. (NASDAQ:TRVI)

Acorn Capital Advisors LLC acquired a new stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 2,001,048 shares of the company's stock, valued at approximately $8,244,000. Trevi Therapeutics makes up about 4.5% of Acorn Capital Advisors LLC's portfolio, making the stock its 8th largest holding. Acorn Capital Advisors LLC owned approximately 2.60% of Trevi Therapeutics at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Acuta Capital Partners LLC raised its holdings in Trevi Therapeutics by 165.7% in the 4th quarter. Acuta Capital Partners LLC now owns 771,958 shares of the company's stock valued at $3,180,000 after buying an additional 481,458 shares during the last quarter. Northern Trust Corp grew its position in shares of Trevi Therapeutics by 11.3% during the 4th quarter. Northern Trust Corp now owns 482,815 shares of the company's stock worth $1,989,000 after buying an additional 49,173 shares during the period. Boothbay Fund Management LLC bought a new stake in Trevi Therapeutics in the fourth quarter valued at $387,000. Adage Capital Partners GP L.L.C. acquired a new position in Trevi Therapeutics during the 4th quarter worth approximately $10,300,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Trevi Therapeutics by 32.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,166 shares of the company's stock worth $104,000 after acquiring an additional 6,119 shares during the last quarter. Institutional investors own 95.76% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. D. Boral Capital restated a "buy" rating and set a $21.00 price objective on shares of Trevi Therapeutics in a report on Wednesday, March 19th. HC Wainwright reissued a "buy" rating and issued a $12.50 target price on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Oppenheimer boosted their price objective on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the company an "outperform" rating in a research report on Tuesday, March 11th. B. Riley restated a "buy" rating and set a $20.00 target price (up previously from $11.00) on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Finally, Raymond James upgraded shares of Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and upped their target price for the stock from $9.00 to $29.00 in a research note on Monday, March 10th. Seven research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $17.56.

Insider Transactions at Trevi Therapeutics

In other Trevi Therapeutics news, 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 in the company, valued at approximately $1,403,599.54. The trade was a 2.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Farrell Simon sold 81,313 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $6.75, for a total transaction of $548,862.75. Following the completion of the sale, the insider now owns 76,900 shares in the company, valued at $519,075. The trade was a 51.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 24.37% of the company's stock.

Trevi Therapeutics Trading Down 0.1 %

TRVI opened at $6.90 on Friday. The stock's 50-day moving average price is $5.88 and its 200 day moving average price is $4.37. Trevi Therapeutics, Inc. has a 12-month low of $2.30 and a 12-month high of $7.39. The firm has a market cap of $667.11 million, a price-to-earnings ratio of -15.68 and a beta of 0.41.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last announced its earnings results on Tuesday, March 18th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.01. On average, research 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.