Frazier Life Sciences Management L.P. Grows Stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI)

Frazier Life Sciences Management L.P. lifted its holdings in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 44.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,664,774 shares of the company's stock after acquiring an additional 3,283,684 shares during the quarter. Trevi Therapeutics makes up 1.8% of Frazier Life Sciences Management L.P.'s portfolio, making the stock its 14th biggest position. Frazier Life Sciences Management L.P. owned 13.87% of Trevi Therapeutics worth $43,939,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TRVI. Woodline Partners LP increased its position in shares of Trevi Therapeutics by 429.9% during the fourth quarter. Woodline Partners LP now owns 3,212,597 shares of the company's stock valued at $13,236,000 after buying an additional 2,606,370 shares during the period. Squarepoint Ops LLC bought a new stake in Trevi Therapeutics during the 4th quarter valued at approximately $58,000. Two Sigma Advisers LP purchased a new position in shares of Trevi Therapeutics during the 4th quarter worth approximately $66,000. Two Sigma Investments LP bought a new position in shares of Trevi Therapeutics in the 4th quarter worth approximately $560,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Trevi Therapeutics in the 4th quarter worth approximately $17,099,000. Institutional investors own 95.76% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TRVI shares. HC Wainwright restated a "buy" rating and set a $12.50 price target on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Needham & Company LLC reissued a "buy" rating and set a $24.00 price objective on shares of Trevi Therapeutics in a research report on Tuesday, May 20th. Raymond James upgraded shares of Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and boosted their target price for the company from $9.00 to $29.00 in a report on Monday, March 10th. Oppenheimer increased their price target on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 11th. Finally, B. Riley reissued a "buy" rating and set a $20.00 price target (up from $11.00) on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Seven analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $17.56.

Trevi Therapeutics Stock Up 4.3%

Shares of NASDAQ TRVI traded up $0.26 during trading on Monday, reaching $6.29. The company had a trading volume of 1,230,994 shares, compared to its average volume of 1,204,821. Trevi Therapeutics, Inc. has a 12-month low of $2.30 and a 12-month high of $7.39. The business's 50-day moving average is $6.27 and its 200 day moving average is $4.77. The stock has a market cap of $628.33 million, a PE ratio of -14.30 and a beta of 0.62.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.04. On average, analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Jennifer L. Good sold 5,263 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $6.58, for a total transaction of $34,630.54. Following the completion of the sale, the chief executive officer now owns 213,313 shares of the company's stock, valued at $1,403,599.54. This trade represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Farrell Simon sold 81,313 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $6.75, for a total transaction of $548,862.75. Following the completion of the transaction, the insider now owns 76,900 shares of the company's stock, valued at approximately $519,075. The trade was a 51.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.30% of the company's stock.

About Trevi Therapeutics

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.