BIT Capital GmbH Acquires Shares of 41,987 Trevi Therapeutics, Inc. (NASDAQ:TRVI)

Key Points

• BIT Capital GmbH has acquired 41,987 shares of Trevi Therapeutics, valued at approximately $264,000, adding to a trend of increasing institutional investments in the company.
• Trevi Therapeutics received multiple "buy" ratings from analysts with target prices ranging from $21.00 to $25.00, indicating positive sentiment around the company's potential.
• The company's stock has faced fluctuations, currently priced at $7.33, with a twelve-month low of $2.36 and a high of $8.11, showing a volatile trading history.

BIT Capital GmbH purchased a new stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 41,987 shares of the company's stock, valued at approximately $264,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TRVI. Frazier Life Sciences Management L.P. grew its holdings in shares of Trevi Therapeutics by 44.5% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company's stock worth $43,939,000 after purchasing an additional 3,283,684 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Trevi Therapeutics during the fourth quarter worth $17,099,000. Vivo Capital LLC grew its holdings in 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 buying an additional 1,875,000 shares in the last quarter. Woodline Partners LP grew its stake in Trevi Therapeutics by 429.9% in the 4th quarter. Woodline Partners LP now owns 3,212,597 shares of the company's stock valued at $13,236,000 after purchasing an additional 2,606,370 shares during the period. Finally, MPM Bioimpact LLC grew its stake in Trevi Therapeutics by 101.2% in the 4th quarter. MPM Bioimpact LLC now owns 3,094,896 shares of the company's stock valued at $12,751,000 after purchasing an additional 1,556,379 shares during the period. Institutional investors and hedge funds own 95.76% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Wall Street Zen downgraded Trevi Therapeutics from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Oppenheimer reaffirmed an "outperform" rating on shares of Trevi Therapeutics in a report on Monday, June 2nd. Cantor Fitzgerald began coverage on Trevi Therapeutics in a report on Tuesday, July 1st. They set an "overweight" rating and a $25.00 target price for the company. D. Boral Capital reaffirmed a "buy" rating and issued a $21.00 price target on shares of Trevi Therapeutics in a report on Monday, June 2nd. Finally, HC Wainwright started coverage on Trevi Therapeutics in a report on Wednesday, May 28th. They set a "buy" rating and a $21.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $20.88.

Trevi Therapeutics Price Performance

NASDAQ TRVI traded down $0.03 on Thursday, reaching $7.25. 313,440 shares of the company's stock traded hands, compared to its average volume of 1,834,579. Trevi Therapeutics, Inc. has a 12 month low of $2.36 and a 12 month high of $8.11. The stock has a 50-day simple moving average of $6.52 and a 200 day simple moving average of $5.85. The stock has a market cap of $849.79 million, a PE ratio of -16.12 and a beta of 0.58.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.04. As a group, analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 EPS for the current year.

Trevi Therapeutics Company 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.