Charles Schwab Investment Management Inc. Buys 34,455 Shares of Trevi Therapeutics, Inc. $TRVI

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Trevi Therapeutics by 19.9%, acquiring an additional 34,455 shares, bringing its total ownership to 207,518 shares valued at approximately $1.3 million.
• Multiple institutional investors, including Wells Fargo and Barclays PLC, have also significantly increased their holdings in Trevi Therapeutics, boosting the company's institutional ownership to 95.76%.
• Analysts have varying ratings on Trevi Therapeutics, with most recent targets suggesting a consensus price target of $20.11 despite fluctuations in ratings, including changes from "buy" to "sell" by different firms.

Charles Schwab Investment Management Inc. grew its stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 19.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 207,518 shares of the company's stock after purchasing an additional 34,455 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.21% of Trevi Therapeutics worth $1,305,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TRVI. Wells Fargo & Company MN lifted its holdings in shares of Trevi Therapeutics by 40.7% in the fourth quarter. Wells Fargo & Company MN now owns 33,050 shares of the company's stock valued at $136,000 after purchasing an additional 9,562 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Trevi Therapeutics by 21.2% in the fourth quarter. Invesco Ltd. now owns 23,621 shares of the company's stock valued at $97,000 after purchasing an additional 4,133 shares in the last quarter. Renaissance Technologies LLC lifted its holdings 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 acquiring an additional 29,700 shares during the period. Raymond James Financial Inc. bought a new stake in Trevi Therapeutics during the fourth quarter worth $49,000. Finally, Barclays PLC lifted its holdings 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 acquiring an additional 61,035 shares during the period. Institutional investors own 95.76% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Cantor Fitzgerald assumed coverage on Trevi Therapeutics in a report on Tuesday, July 1st. They set an "overweight" rating and a $25.00 price target on the stock. Morgan Stanley assumed coverage on Trevi Therapeutics in a report on Thursday, August 21st. They set an "overweight" rating and a $18.00 price target on the stock. HC Wainwright assumed coverage on Trevi Therapeutics in a report on Wednesday, May 28th. They set a "buy" rating and a $21.00 price target on the stock. Wall Street Zen lowered Trevi Therapeutics from a "hold" rating to a "sell" rating in a report on Friday, June 6th. Finally, Raymond James Financial dropped their price target on Trevi Therapeutics from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $20.11.

Trevi Therapeutics Price Performance

Shares of TRVI opened at $7.26 on Tuesday. The firm has a market cap of $884.12 million, a PE ratio of -17.29 and a beta of 0.71. The stock's fifty day moving average price is $6.95 and its two-hundred day moving average price is $6.32. Trevi Therapeutics, Inc. has a 1 year low of $2.36 and a 1 year high of $8.78.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. Sell-side analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current fiscal year.

Trevi Therapeutics 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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