Flputnam Investment Management Co. Makes New $19.36 Million Investment in Trevi Therapeutics, Inc. $TRVI

Key Points

• Flputnam Investment Management acquired 1.04 million Trevi Therapeutics shares worth approximately $19.36 million, representing about 0.73% of the company.
• Institutional interest increased broadly, with several funds initiating positions; institutions and hedge funds now own approximately 95.76% of Trevi’s outstanding stock.
• Analysts remain generally bullish, with Trevi receiving an overall “Buy” rating and an average price target of $27.08, compared with a recent share price of $18.46.

Flputnam Investment Management Co. acquired a new position in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,038,057 shares of the company's stock, valued at approximately $19,360,000. Flputnam Investment Management Co. owned approximately 0.73% of Trevi Therapeutics at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new stake in shares of Trevi Therapeutics during the 2nd quarter valued at about $5,720,000. GSA Capital Partners LLP bought a new stake in Trevi Therapeutics in the second quarter worth approximately $233,000. Walleye Capital LLC bought a new stake in Trevi Therapeutics in the second quarter worth approximately $4,513,000. Assenagon Asset Management S.A. acquired a new position in Trevi Therapeutics in the second quarter valued at approximately $28,447,000. Finally, Seven Fleet Capital Management LP lifted its stake in Trevi Therapeutics by 281.8% in the first quarter. Seven Fleet Capital Management LP now owns 27,149 shares of the company's stock valued at $324,000 after buying an additional 20,039 shares during the period. 95.76% of the stock is owned by institutional investors and hedge funds.

Trevi Therapeutics Price Performance

TRVI stock opened at $18.46 on Monday. Trevi Therapeutics, Inc. has a twelve month low of $6.93 and a twelve month high of $20.22. The stock's 50 day moving average is $17.41 and its 200-day moving average is $14.29. The firm has a market capitalization of $2.63 billion, a PE ratio of -54.29 and a beta of 1.03.

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

Wall Street Analysts Forecast Growth

TRVI has been the subject of several recent analyst reports. HC Wainwright raised their price objective on shares of Trevi Therapeutics from $21.00 to $24.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. Wall Street Zen lowered shares of Trevi Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, July 25th. BMO Capital Markets began coverage on shares of Trevi Therapeutics in a report on Monday, July 20th. They issued an "outperform" rating and a $36.00 price target for the company. Oppenheimer lifted their price target on shares of Trevi Therapeutics from $24.00 to $25.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. Finally, Cantor Fitzgerald upped their price objective on shares of Trevi Therapeutics from $25.00 to $30.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $27.08.

Trevi Therapeutics Company 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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