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

Frazier Life Sciences Management L.P. lifted its holdings in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 44.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,664,774 shares of the company's stock after buying an additional 3,283,684 shares during the period. Trevi Therapeutics makes up about 1.8% of Frazier Life Sciences Management L.P.'s investment portfolio, making the stock its 14th largest holding. Frazier Life Sciences Management L.P. owned about 13.87% of Trevi Therapeutics worth $43,939,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in Trevi Therapeutics by 220.6% during the third quarter. JPMorgan Chase & Co. now owns 100,517 shares of the company's stock worth $336,000 after purchasing an additional 69,167 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Trevi Therapeutics by 14.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 173,063 shares of the company's stock worth $713,000 after purchasing an additional 22,145 shares in the last quarter. Renaissance Technologies LLC raised 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 purchasing an additional 29,700 shares in the last quarter. American Century Companies Inc. raised its holdings in Trevi Therapeutics by 44.7% during the fourth quarter. American Century Companies Inc. now owns 78,143 shares of the company's stock worth $322,000 after purchasing an additional 24,153 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Trevi Therapeutics during the fourth quarter worth approximately $49,000. 95.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Trevi Therapeutics news, CEO Jennifer L. Good sold 5,263 shares of Trevi Therapeutics 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 transaction, the chief executive officer now directly owns 213,313 shares in the company, valued at approximately $1,403,599.54. The trade was a 2.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Farrell Simon sold 81,313 shares of Trevi Therapeutics 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 transaction, the insider now owns 76,900 shares in the company, 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.

Trevi Therapeutics Stock Performance

Shares of NASDAQ TRVI traded up $0.26 during trading on Friday, hitting $6.29. The company had a trading volume of 1,230,994 shares, compared to its average volume of 1,201,729. The company has a market cap of $628.33 million, a P/E ratio of -14.30 and a beta of 0.62. Trevi Therapeutics, Inc. has a 52 week low of $2.30 and a 52 week high of $7.39. The business's 50-day moving average is $6.27 and its 200 day moving average is $4.72.

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

Wall Street Analyst Weigh In

TRVI has been the topic of several recent analyst reports. B. Riley reissued a "buy" rating and set a $20.00 target price (up previously from $11.00) on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Oppenheimer boosted their target price on Trevi Therapeutics from $12.00 to $20.00 and gave the stock an "outperform" rating in a report on Tuesday, March 11th. HC Wainwright reissued a "buy" rating and set a $12.50 target price on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Raymond James raised Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and upped their price target for the company from $9.00 to $29.00 in a report on Monday, March 10th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $24.00 price target on shares of Trevi Therapeutics in a report on Tuesday. Seven research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $17.56.

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.