Trevi Therapeutics, Inc. $TRVI Shares Sold by Frazier Life Sciences Management L.P.

Key Points

• Frazier Life Sciences Management L.P. reduced its stake in Trevi Therapeutics by 3.8%, selling 405,365 shares, and now controls approximately 10.27% of the company's stock, valued at around $64.5 million.
• Trevi Therapeutics reported a quarterly loss of ($0.09) earnings per share, exceeding analysts' estimates of ($0.10), and is projected to post a yearly EPS of -0.49.
• Corporate ratings for Trevi Therapeutics remain predominantly positive, with a consensus rating of "Buy" and a target price averaging $20.11, despite mixed opinions from different brokerage firms.

Frazier Life Sciences Management L.P. lessened its holdings in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 3.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,259,409 shares of the company's stock after selling 405,365 shares during the quarter. Trevi Therapeutics comprises about 2.9% of Frazier Life Sciences Management L.P.'s holdings, making the stock its 9th biggest holding. Frazier Life Sciences Management L.P. owned about 10.27% of Trevi Therapeutics worth $64,532,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Two Sigma Investments LP acquired a new stake in shares of Trevi Therapeutics during the fourth quarter worth about $560,000. Ameriprise Financial Inc. increased its stake in shares of Trevi Therapeutics by 187.0% during the fourth quarter. Ameriprise Financial Inc. now owns 96,784 shares of the company's stock worth $399,000 after buying an additional 63,067 shares during the period. Vontobel Holding Ltd. purchased a new stake in shares of Trevi Therapeutics during the first quarter worth approximately $197,000. Renaissance Technologies LLC increased its stake in shares of 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 buying an additional 29,700 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Trevi Therapeutics by 11.3% during the fourth quarter. Northern Trust Corp now owns 482,815 shares of the company's stock worth $1,989,000 after buying an additional 49,173 shares during the period. Institutional investors and hedge funds own 95.76% of the company's stock.

Trevi Therapeutics Price Performance

Shares of TRVI traded down $0.22 during mid-day trading on Friday, reaching $7.01. 1,613,444 shares of the company's stock were exchanged, compared to its average volume of 1,942,515. The stock has a market capitalization of $853.68 million, a PE ratio of -16.69 and a beta of 0.71. The business's fifty day simple moving average is $7.07 and its 200-day simple moving average is $6.37. Trevi Therapeutics, Inc. has a 52-week low of $2.36 and a 52-week high of $8.78.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.01. Equities research analysts predict that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on TRVI. D. Boral Capital restated a "buy" rating and set a $21.00 target price on shares of Trevi Therapeutics in a research note on Monday, June 2nd. Cantor Fitzgerald began coverage on shares of Trevi Therapeutics in a research note on Tuesday, July 1st. They set an "overweight" rating and a $25.00 target price on the stock. Oppenheimer restated an "outperform" rating on shares of Trevi Therapeutics in a research note on Monday, June 2nd. Morgan Stanley began coverage on shares of Trevi Therapeutics in a research note on Thursday, August 21st. They set an "overweight" rating and a $18.00 target price on the stock. Finally, Needham & Company LLC cut their target price on shares of Trevi Therapeutics from $24.00 to $22.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to data from MarketBeat, Trevi Therapeutics presently has a consensus rating of "Buy" and an average target price of $20.11.

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.