Affinity Asset Advisors LLC Takes $7.86 Million Position in Trevi Therapeutics, Inc. $TRVI

Key Points

• Affinity Asset Advisors LLC has purchased a $7.86 million stake in Trevi Therapeutics, acquiring 1,250,000 shares, which now accounts for approximately 0.8% of its investment portfolio.
• Institutional investors hold a significant majority of Trevi Therapeutics' stock, owning 95.76%, indicating strong interest from the finance sector.
• Trevi Therapeutics shares are currently trading down 3.6% with a market cap of $886.54 million and a twelve month high of $8.11; the company is focused on developing therapies for chronic cough conditions.

Affinity Asset Advisors LLC bought a new stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,250,000 shares of the company's stock, valued at approximately $7,862,000. Trevi Therapeutics makes up about 0.8% of Affinity Asset Advisors LLC's investment portfolio, making the stock its 26th biggest position. Affinity Asset Advisors LLC owned approximately 1.25% of Trevi Therapeutics as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in TRVI. Raymond James Financial Inc. acquired a new stake in Trevi Therapeutics in the 4th quarter valued at $49,000. Squarepoint Ops LLC purchased a new position in shares of Trevi Therapeutics during the 4th quarter worth $58,000. Two Sigma Advisers LP purchased a new position in shares of Trevi Therapeutics during the 4th quarter worth $66,000. Cantor Fitzgerald L. P. acquired a new position in Trevi Therapeutics in the fourth quarter valued at about $82,000. Finally, ProShare Advisors LLC increased its position in shares of Trevi Therapeutics by 86.4% during the fourth quarter. ProShare Advisors LLC now owns 20,685 shares of the company's stock valued at $85,000 after acquiring an additional 9,589 shares during the last quarter. Institutional investors and hedge funds own 95.76% of the company's stock.

Trevi Therapeutics Trading Down 3.6%

Shares of TRVI stock opened at $7.28 on Tuesday. The firm has a 50-day moving average price of $6.81 and a 200 day moving average price of $6.20. Trevi Therapeutics, Inc. has a twelve month low of $2.36 and a twelve month high of $8.11. The company has a market capitalization of $886.54 million, a price-to-earnings ratio of -17.33 and a beta of 0.58.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.01. As a group, research analysts predict that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Oppenheimer reiterated an "outperform" rating on shares of Trevi Therapeutics in a research report on Monday, June 2nd. Cantor Fitzgerald initiated coverage on shares of Trevi Therapeutics in a research note on Tuesday, July 1st. They set an "overweight" rating and a $25.00 target price on the stock. HC Wainwright initiated coverage on shares of Trevi Therapeutics in a research note on Wednesday, May 28th. They issued a "buy" rating and a $21.00 price target on the stock. Raymond James Financial dropped their price target on shares of Trevi Therapeutics from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a research note on Friday, August 8th. Finally, D. Boral Capital restated a "buy" rating and set a $21.00 target price on shares of Trevi Therapeutics in a research report on Monday, June 2nd. Two investment analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $20.11.

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.

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