Affinity Asset Advisors LLC Purchases New 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 position in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 1,250,000 shares of the company's stock, valued at approximately $7,862,000. Trevi Therapeutics comprises approximately 0.8% of Affinity Asset Advisors LLC's portfolio, making the stock its 26th biggest position. Affinity Asset Advisors LLC owned about 1.25% of Trevi Therapeutics as of its most recent SEC filing.

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

Trevi Therapeutics Stock Up 0.7%

NASDAQ TRVI traded up $0.05 during trading on Friday, hitting $7.26. The stock had a trading volume of 1,556,560 shares, compared to its average volume of 1,896,855. The company has a market capitalization of $884.12 million, a PE ratio of -17.29 and a beta of 0.58. The firm has a 50 day moving average price of $6.92 and a 200 day moving average price of $6.28. Trevi Therapeutics, Inc. has a twelve month low of $2.36 and a twelve month high of $8.78.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TRVI shares. Cantor Fitzgerald started coverage on Trevi Therapeutics in a research report on Tuesday, July 1st. They set an "overweight" rating and a $25.00 price objective for the company. Oppenheimer reissued an "outperform" rating on shares of Trevi Therapeutics in a research report on Monday, June 2nd. Raymond James Financial cut their price objective on Trevi Therapeutics from $29.00 to $27.00 and set a "strong-buy" rating for the company in a research report on Friday, August 8th. Needham & Company LLC cut their price objective on Trevi Therapeutics from $24.00 to $22.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, HC Wainwright started coverage on Trevi Therapeutics in a research report on Wednesday, May 28th. They set a "buy" rating and a $21.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $20.11.

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.