Boothbay Fund Management LLC Invests $387,000 in Trevi Therapeutics, Inc. (NASDAQ:TRVI)

Boothbay Fund Management LLC acquired a new stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 93,859 shares of the company's stock, valued at approximately $387,000. Boothbay Fund Management LLC owned about 0.12% of Trevi Therapeutics at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vivo Capital LLC raised its position in shares of Trevi Therapeutics by 116.3% during the fourth quarter. Vivo Capital LLC now owns 3,487,903 shares of the company's stock worth $14,370,000 after acquiring an additional 1,875,000 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new position in Trevi Therapeutics during the 4th quarter worth approximately $10,300,000. Geode Capital Management LLC lifted its position 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 worth $5,354,000 after purchasing an additional 35,156 shares during the period. Rosalind Advisors Inc. boosted its stake in shares of Trevi Therapeutics by 41.7% in the 4th quarter. Rosalind Advisors Inc. now owns 1,062,500 shares of the company's stock valued at $4,378,000 after purchasing an additional 312,500 shares during the last quarter. Finally, Silverarc Capital Management LLC increased its position in shares of Trevi Therapeutics by 52.1% during the fourth quarter. Silverarc Capital Management LLC now owns 734,234 shares of the company's stock worth $3,025,000 after buying an additional 251,659 shares during the period. 95.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Needham & Company LLC restated a "buy" rating and set a $24.00 price target on shares of Trevi Therapeutics in a report on Tuesday, April 8th. B. Riley reiterated a "buy" rating and set a $20.00 price target (up previously from $11.00) on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. HC Wainwright reiterated 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 target on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the stock an "outperform" rating in a report on Tuesday, March 11th. Finally, 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 report on Monday, March 10th. Seven research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Trevi Therapeutics currently has an average rating of "Buy" and a consensus price target of $17.56.

Insider Buying and Selling

In related news, CEO Jennifer L. Good sold 5,263 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $6.58, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Farrell Simon sold 81,313 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $6.75, for a total value of $548,862.75. Following the completion of the sale, the insider now owns 76,900 shares in the company, valued at approximately $519,075. The trade was 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 owned by company insiders.

Trevi Therapeutics Stock Up 1.1 %

TRVI traded up $0.08 during trading on Wednesday, reaching $6.66. 142,892 shares of the company were exchanged, compared to its average volume of 1,148,495. Trevi Therapeutics, Inc. has a 12-month low of $2.30 and a 12-month high of $7.39. The company has a market cap of $664.79 million, a price-to-earnings ratio of -15.06 and a beta of 0.62. The company's 50-day moving average is $6.02 and its two-hundred day moving average is $4.46.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last released its earnings results on Tuesday, March 18th. The company reported ($0.11) EPS for the quarter, topping 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.

About Trevi Therapeutics

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.