Bank of America Corp DE Has $14.52 Million Position in Trevi Therapeutics, Inc. $TRVI

Key Points

• Bank of America increased its Trevi Therapeutics position by 11.2% in the first quarter, holding 1.22 million shares worth approximately $14.5 million, or 0.86% of the company.
• Institutional investors own 95.76% of Trevi’s shares, with several hedge funds and investment firms recently initiating or expanding positions.
• Analysts remain broadly positive, with a consensus “Buy” rating and $27.08 price target; shares recently opened at $17.96, while the company reported quarterly EPS of negative $0.11, in line with estimates.

Bank of America Corp DE boosted its position in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 11.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,216,955 shares of the company's stock after buying an additional 122,104 shares during the quarter. Bank of America Corp DE owned approximately 0.86% of Trevi Therapeutics worth $14,518,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its stake in shares of Trevi Therapeutics by 194.5% during the second quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company's stock worth $25,000 after purchasing an additional 2,996 shares during the period. KBC Group NV bought a new position in Trevi Therapeutics during the first quarter worth about $29,000. Hilton Head Capital Partners LLC bought a new position in Trevi Therapeutics during the fourth quarter worth about $40,000. Caitong International Asset Management Co. Ltd acquired a new stake in Trevi Therapeutics in the 4th quarter worth about $50,000. Finally, Strs Ohio acquired a new stake in Trevi Therapeutics in the 1st quarter worth about $52,000. 95.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. HC Wainwright boosted their price target on Trevi Therapeutics from $21.00 to $24.00 and gave the stock a "buy" rating in a report on Monday, July 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Trevi Therapeutics in a research report on Friday, July 17th. Oppenheimer boosted their price target on Trevi Therapeutics from $24.00 to $25.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. Morgan Stanley reaffirmed an "overweight" rating and issued a $23.00 price objective on shares of Trevi Therapeutics in a research note on Friday, August 7th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $40.00 target price on shares of Trevi Therapeutics in a research report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Trevi Therapeutics has an average rating of "Buy" and a consensus target price of $27.08.

Trevi Therapeutics Stock Down 1.6%

Shares of TRVI stock opened at $17.96 on Friday. The firm has a market cap of $2.56 billion, a P/E ratio of -52.82 and a beta of 1.03. The company has a 50 day moving average of $17.89 and a 200-day moving average of $14.54. Trevi Therapeutics, Inc. has a 12-month low of $6.93 and a 12-month high of $20.22.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.11). As a group, equities analysts expect that Trevi Therapeutics, Inc. will post -0.48 EPS for the current year.

Trevi Therapeutics Profile

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel non-opioid therapies for the management of chronic and acute pain. The company leverages proprietary drug delivery platforms and targeted molecular approaches to address high unmet needs in cancer-related pain, chemotherapy-induced neuropathy and other severe pain conditions.

Its lead product candidate is a proprietary formulation of tetrodotoxin (TTX), a sodium-channel blocking agent being evaluated in early-stage clinical trials for moderate-to-severe pain associated with advanced cancer and peripheral neuropathy.

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