Adage Capital Partners GP L.L.C. Trims Stock Holdings in Trevi Therapeutics, Inc. $TRVI

Adage Capital Partners GP L.L.C. trimmed its holdings in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 82.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 440,000 shares of the company's stock after selling 2,060,000 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.44% of Trevi Therapeutics worth $2,768,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in TRVI. Raymond James Financial Inc. bought a new position in shares of Trevi Therapeutics in the fourth quarter valued at $49,000. Squarepoint Ops LLC bought a new position in shares of Trevi Therapeutics in the fourth quarter valued at $58,000. Two Sigma Advisers LP bought a new position in shares of Trevi Therapeutics in the fourth quarter valued at $66,000. ProShare Advisors LLC lifted its stake in shares of Trevi Therapeutics by 86.4% in the fourth quarter. ProShare Advisors LLC now owns 20,685 shares of the company's stock valued at $85,000 after buying an additional 9,589 shares in the last quarter. Finally, Diversified Trust Co bought a new position in shares of Trevi Therapeutics in the first quarter valued at $94,000. 95.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. D. Boral Capital reiterated a "buy" rating and issued a $21.00 target price on shares of Trevi Therapeutics in a report 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 target price for the company. Morgan Stanley assumed coverage on shares of Trevi Therapeutics in a report on Thursday, August 21st. They issued an "overweight" rating and a $18.00 target price for the company. Needham & Company LLC lowered their target price on shares of Trevi Therapeutics from $24.00 to $22.00 and set a "buy" rating for the company in a report on Friday, August 8th. Finally, Wall Street Zen downgraded shares of Trevi Therapeutics from a "hold" rating to a "sell" rating in a report on Friday, June 6th. One analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to MarketBeat, Trevi Therapeutics currently has an average rating of "Buy" and a consensus price target of $21.75.

Trevi Therapeutics Stock Down 15.4%

NASDAQ TRVI traded down $1.50 during trading hours on Friday, reaching $8.25. 3,619,982 shares of the company were exchanged, compared to its average volume of 2,751,478. Trevi Therapeutics, Inc. has a 1 year low of $2.36 and a 1 year high of $9.92. The business's 50 day simple moving average is $7.36 and its 200-day simple moving average is $6.53. The stock has a market capitalization of $1.00 billion, a P/E ratio of -19.64 and a beta of 0.71.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.01. As a group, sell-side analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 earnings per share 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.