Armistice Capital LLC purchased a new stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,988,000 shares of the company's stock, valued at approximately $18,795,000. Armistice Capital LLC owned approximately 2.99% of Trevi Therapeutics at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of TRVI. Wells Fargo & Company MN boosted its position in Trevi Therapeutics by 40.7% during the fourth quarter. Wells Fargo & Company MN now owns 33,050 shares of the company's stock worth $136,000 after purchasing an additional 9,562 shares in the last quarter. Invesco Ltd. boosted its position in Trevi Therapeutics by 21.2% during the fourth quarter. Invesco Ltd. now owns 23,621 shares of the company's stock worth $97,000 after purchasing an additional 4,133 shares in the last quarter. Renaissance Technologies LLC boosted its position in Trevi Therapeutics by 42.0% during the fourth quarter. Renaissance Technologies LLC now owns 100,400 shares of the company's stock worth $414,000 after purchasing an additional 29,700 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Trevi Therapeutics during the fourth quarter worth $49,000. Finally, Barclays PLC boosted its position in Trevi Therapeutics by 64.1% during the fourth quarter. Barclays PLC now owns 156,267 shares of the company's stock worth $643,000 after purchasing an additional 61,035 shares in the last quarter. 95.76% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the company. Oppenheimer reiterated an "outperform" rating on shares of Trevi Therapeutics in a research report on Monday, June 2nd. Raymond James Financial decreased their target price on Trevi Therapeutics from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a research report on Friday, August 8th. Cantor Fitzgerald started coverage on Trevi Therapeutics in a report on Tuesday, July 1st. They issued an "overweight" rating and a $25.00 price target for the company. Wall Street Zen cut Trevi Therapeutics from a "hold" rating to a "sell" rating in a report on Friday, June 6th. Finally, Morgan Stanley started coverage on Trevi Therapeutics in a report on Thursday, August 21st. They issued an "overweight" rating and a $18.00 price target 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 company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $20.11.
Check Out Our Latest Stock Report on TRVI
Trevi Therapeutics Stock Up 0.7%
NASDAQ TRVI opened at $7.26 on Friday. The stock has a market cap of $884.12 million, a price-to-earnings ratio of -17.29 and a beta of 0.58. The business has a fifty day moving average of $6.92 and a 200-day moving average of $6.28. Trevi Therapeutics, Inc. has a fifty-two week low of $2.36 and a fifty-two week high of $8.78.
Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.01. As a group, analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 EPS for the current year.
About Trevi Therapeutics
(
Free Report)
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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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