1,525,314 Shares in Trevi Therapeutics, Inc. $TRVI Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management acquired 1,525,314 Trevi Therapeutics shares valued at approximately $28.4 million, representing about 1.07% of the company. Institutional investors collectively own 95.76% of TRVI.
• Trevi Therapeutics reported quarterly EPS of -$0.11, in line with analyst expectations, while shares opened at $18.51 and have traded between $6.55 and $20.22 over the past year.
• Analysts remain broadly bullish, with the stock carrying an average “Buy” rating and a consensus price target of $26.75; recent targets range from $19 to $40.

Assenagon Asset Management S.A. acquired a new position in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,525,314 shares of the company's stock, valued at approximately $28,447,000. Assenagon Asset Management S.A. owned about 1.07% of Trevi Therapeutics as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of TRVI. KBC Group NV acquired a new position in Trevi Therapeutics during the 1st quarter worth approximately $29,000. Hilton Head Capital Partners LLC bought a new position in shares of Trevi Therapeutics during the fourth quarter valued at $40,000. Caitong International Asset Management Co. Ltd bought a new position in Trevi Therapeutics during the 4th quarter worth $50,000. Russell Investments Group Ltd. lifted its holdings in Trevi Therapeutics by 194.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company's stock worth $25,000 after buying an additional 2,996 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Trevi Therapeutics by 32.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,231 shares of the company's stock worth $78,000 after buying an additional 1,523 shares during the period. Institutional investors and hedge funds own 95.76% of the company's stock.

Trevi Therapeutics Stock Performance

Shares of TRVI stock opened at $18.51 on Monday. Trevi Therapeutics, Inc. has a 52-week low of $6.55 and a 52-week high of $20.22. The company has a 50-day simple moving average of $16.97 and a two-hundred day simple moving average of $14.03. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of -54.44 and a beta of 1.03.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). On average, sell-side analysts forecast that Trevi Therapeutics, Inc. will post -0.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TRVI. BMO Capital Markets started coverage on Trevi Therapeutics in a research report on Monday, July 20th. They set an "outperform" rating and a $36.00 price objective for the company. B. Riley Financial increased their price objective on shares of Trevi Therapeutics from $21.00 to $31.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. Oppenheimer lifted their target price on shares of Trevi Therapeutics from $24.00 to $25.00 and gave the stock an "outperform" rating in a research note on Friday. D. Boral Capital restated a "buy" rating and issued a $19.00 target price on shares of Trevi Therapeutics in a report on Friday, April 17th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $40.00 price target on shares of Trevi Therapeutics in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $26.75.

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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