Adage Capital Partners GP L.L.C. Takes Position in Trevi Therapeutics, Inc. (NASDAQ:TRVI)

Adage Capital Partners GP L.L.C. bought a new position in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,500,000 shares of the company's stock, valued at approximately $10,300,000. Adage Capital Partners GP L.L.C. owned approximately 3.25% of Trevi Therapeutics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TRVI. Vivo Capital LLC boosted its holdings in Trevi Therapeutics by 116.3% in the fourth quarter. Vivo Capital LLC now owns 3,487,903 shares of the company's stock worth $14,370,000 after purchasing an additional 1,875,000 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Trevi Therapeutics by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 1,299,322 shares of the company's stock valued at $5,354,000 after buying an additional 35,156 shares during the period. Rosalind Advisors Inc. grew its position in shares of Trevi Therapeutics by 41.7% during the 4th quarter. Rosalind Advisors Inc. now owns 1,062,500 shares of the company's stock valued at $4,378,000 after buying an additional 312,500 shares during the last quarter. State Street Corp raised its stake in Trevi Therapeutics by 5.9% during the third quarter. State Street Corp now owns 952,912 shares of the company's stock worth $3,183,000 after acquiring an additional 53,051 shares during the period. Finally, Silverarc Capital Management LLC lifted its holdings in Trevi Therapeutics by 52.1% in the fourth quarter. Silverarc Capital Management LLC now owns 734,234 shares of the company's stock worth $3,025,000 after acquiring an additional 251,659 shares during the last quarter. 95.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Trevi Therapeutics

In other news, CEO Jennifer L. Good sold 5,263 shares of Trevi Therapeutics stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $6.58, for a total value of $34,630.54. Following the transaction, the chief executive officer now owns 213,313 shares of the company's stock, valued at $1,403,599.54. The trade was a 2.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 of the company's stock, valued at approximately $519,075. This represents a 51.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.37% of the stock is currently owned by corporate insiders.

Trevi Therapeutics Trading Up 1.3 %

TRVI traded up $0.09 on Friday, reaching $6.99. The company had a trading volume of 1,032,778 shares, compared to its average volume of 1,151,557. The company has a market capitalization of $675.81 million, a P/E ratio of -15.89 and a beta of 0.41. The company has a fifty day moving average of $5.93 and a 200-day moving average of $4.41. Trevi Therapeutics, Inc. has a one year low of $2.30 and a one year high of $7.39.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last posted its quarterly earnings data on Tuesday, March 18th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.01. Research analysts predict that Trevi Therapeutics, Inc. will post -0.49 EPS 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.