Trevi Therapeutics, Inc. $TRVI Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lowered its position in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 82.4% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 440,000 shares of the company's stock after selling 2,060,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.44% of Trevi Therapeutics worth $2,768,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in TRVI. Raymond James Financial Inc. purchased a new stake in Trevi Therapeutics during the 4th quarter valued at about $49,000. Dimensional Fund Advisors LP grew its stake in Trevi Therapeutics by 86.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 134,353 shares of the company's stock valued at $553,000 after purchasing an additional 62,143 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Trevi Therapeutics by 32.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,166 shares of the company's stock valued at $104,000 after purchasing an additional 6,119 shares during the last quarter. Northern Trust Corp boosted its holdings in Trevi Therapeutics by 11.3% in the fourth quarter. Northern Trust Corp now owns 482,815 shares of the company's stock valued at $1,989,000 after purchasing an additional 49,173 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Trevi Therapeutics by 187.0% in the fourth quarter. Ameriprise Financial Inc. now owns 96,784 shares of the company's stock valued at $399,000 after purchasing an additional 63,067 shares during the last quarter. Hedge funds and other institutional investors own 95.76% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. 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 target on the stock. Wall Street Zen lowered shares of Trevi Therapeutics from a "hold" rating to a "sell" rating in a report on Friday, June 6th. Needham & Company LLC lowered their price target on shares of Trevi Therapeutics from $24.00 to $22.00 and set a "buy" rating on the stock in a report on Friday, August 8th. HC Wainwright assumed coverage on shares of Trevi Therapeutics in a report on Wednesday, May 28th. They issued a "buy" rating and a $21.00 price target on the stock. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $21.75.

Trevi Therapeutics Price Performance

Trevi Therapeutics stock traded down $1.57 during midday trading on Friday, reaching $8.19. The company had a trading volume of 2,548,261 shares, compared to its average volume of 1,951,411. The company has a market capitalization of $996.77 million, a P/E ratio of -19.49 and a beta of 0.71. Trevi Therapeutics, Inc. has a 12-month low of $2.36 and a 12-month high of $9.92. The firm's fifty day simple moving average is $7.31 and its 200-day simple moving average is $6.49.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.01. On average, analysts expect that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal 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.