41,987 Shares in Trevi Therapeutics, Inc. (NASDAQ:TRVI) Bought by BIT Capital GmbH

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 acquired a new position in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 41,987 shares of the company's stock, valued at approximately $264,000.

Other institutional investors have also made changes to their positions in the company. Summit Investment Advisors Inc. increased its holdings in shares of Trevi Therapeutics by 84.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company's stock valued at $26,000 after purchasing an additional 2,894 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Trevi Therapeutics in the fourth quarter valued at $49,000. Squarepoint Ops LLC acquired a new position in shares of Trevi Therapeutics in the fourth quarter valued at $58,000. Two Sigma Advisers LP acquired a new position in shares of Trevi Therapeutics in the fourth quarter valued at $66,000. Finally, Cantor Fitzgerald L. P. acquired a new position in shares of Trevi Therapeutics in the fourth quarter valued at $82,000. Institutional investors own 95.76% of the company's stock.

Trevi Therapeutics Stock Performance

NASDAQ TRVI traded down $0.07 during trading on Tuesday, hitting $7.43. 162,950 shares of the company's stock traded hands, compared to its average volume of 1,842,972. The stock has a market capitalization of $870.88 million, a price-to-earnings ratio of -16.50 and a beta of 0.58. Trevi Therapeutics, Inc. has a 12-month low of $2.36 and a 12-month high of $8.11. The business has a 50 day moving average of $6.50 and a 200-day moving average of $5.84.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.04. On average, analysts expect that Trevi Therapeutics, Inc. will post -0.49 EPS for the current year.

Wall Street Analyst Weigh In

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

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.