Candriam S.C.A. Purchases 341,885 Shares of Trevi Therapeutics, Inc. $TRVI

Key Points

• Candriam S.C.A. increased its Trevi Therapeutics stake by 35.4% in the third quarter, adding 341,885 shares to hold 1.31 million shares worth about $18.8 million.
• Analysts have a “Moderate Buy” consensus on TRVI, with an average price target of $27.08; ratings include 12 Buy/Strong Buy recommendations and one Sell.
• Director Michael Heffernan sold 39,473 shares at an average $15.09, reducing his direct holdings by 86.14%.

Candriam S.C.A. lifted its position in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 35.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,308,104 shares of the company's stock after buying an additional 341,885 shares during the period. Candriam S.C.A. owned about 0.92% of Trevi Therapeutics worth $18,800,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. AlphaCentric Advisors LLC boosted its stake in Trevi Therapeutics by 4.3% in the third quarter. AlphaCentric Advisors LLC now owns 25,370 shares of the company's stock worth $363,000 after buying an additional 1,053 shares in the last quarter. CenterBook Partners LP purchased a new position in shares of Trevi Therapeutics during the third quarter worth approximately $280,000. Cowa LLC bought a new stake in shares of Trevi Therapeutics in the 3rd quarter worth approximately $251,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Trevi Therapeutics in the 3rd quarter valued at $104,000. Finally, Profund Advisors LLC boosted its stake in shares of Trevi Therapeutics by 347.4% in the 3rd quarter. Profund Advisors LLC now owns 94,425 shares of the company's stock valued at $1,352,000 after purchasing an additional 73,319 shares in the last quarter. Institutional investors own 95.76% of the company's stock.

Insider Activity at Trevi Therapeutics

In other news, Director Michael Heffernan sold 39,473 shares of the company's stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $15.09, for a total transaction of $595,647.57. Following the completion of the transaction, the director directly owned 6,351 shares of the company's stock, valued at approximately $95,836.59. This represents a 86.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 15.39% of the company's stock.

Wall Street Analyst Weigh In

TRVI has been the subject of several recent research reports. B. Riley Financial boosted their price target on shares of Trevi Therapeutics from $21.00 to $31.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. JonesTrading upped their price target on shares of Trevi Therapeutics from $24.00 to $28.00 and gave the company a "buy" rating in a research report on Friday, August 14th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $40.00 price objective on shares of Trevi Therapeutics in a research note on Friday, August 7th. Oppenheimer reiterated an "outperform" rating on shares of Trevi Therapeutics in a report on Friday, September 25th. Finally, Cantor Fitzgerald boosted their target price on Trevi Therapeutics from $25.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Trevi Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $27.08.

Trevi Therapeutics Price Performance

Shares of NASDAQ TRVI opened at $14.33 on Monday. The firm's fifty day moving average is $14.27 and its 200 day moving average is $14.39. Trevi Therapeutics, Inc. has a 52 week low of $9.82 and a 52 week high of $20.22. The company has a market cap of $2.04 billion, a price-to-earnings ratio of -42.15 and a beta of 1.15.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). Equities research analysts anticipate that Trevi Therapeutics, Inc. will post -0.48 earnings per share for the current year.

Trevi Therapeutics Profile

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for chronic conditions that have limited therapeutic options. The company's lead product candidate is Haduvio, an oral extended-release formulation of nalbuphine, an opioid receptor modulator designed to combine kappa-opioid receptor agonism with mu-opioid receptor antagonism.

Trevi is evaluating Haduvio in conditions involving chronic cough and severe itching. Its clinical development programs have included studies in chronic cough associated with idiopathic pulmonary fibrosis, a progressive lung disease, and chronic pruritus associated with systemic sclerosis, an autoimmune connective-tissue disorder.

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