Informed Momentum Co LLC Takes Position in Trevi Therapeutics, Inc. (NASDAQ:TRVI)

Key Points

• Informed Momentum Co LLC has invested approximately $3.47 million in Trevi Therapeutics, Inc. (NASDAQ:TRVI), acquiring 550,919 shares to hold 0.55% of the company.
• Multiple institutional investors increased their stakes in Trevi Therapeutics, contributing to a total institutional ownership of 95.76%.
• Trevi Therapeutics reported earnings of ($0.09) per share, which exceeded analysts' expectations, while the stock currently has an average price target of $20.38 with a majority of analysts giving it a "buy" rating.

Informed Momentum Co LLC acquired a new stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 550,919 shares of the company's stock, valued at approximately $3,465,000. Informed Momentum Co LLC owned 0.55% of Trevi Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new stake in Trevi Therapeutics during the fourth quarter valued at $49,000. American Century Companies Inc. lifted its stake in shares of Trevi Therapeutics by 44.7% in the fourth quarter. American Century Companies Inc. now owns 78,143 shares of the company's stock worth $322,000 after buying an additional 24,153 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Trevi Therapeutics by 120.5% during the fourth quarter. JPMorgan Chase & Co. now owns 221,664 shares of the company's stock worth $913,000 after purchasing an additional 121,147 shares during the period. Geode Capital Management LLC raised its stake in Trevi Therapeutics by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 1,299,322 shares of the company's stock worth $5,354,000 after purchasing an additional 35,156 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Trevi Therapeutics by 40.7% in the 4th quarter. Wells Fargo & Company MN now owns 33,050 shares of the company's stock valued at $136,000 after acquiring an additional 9,562 shares during the period. Hedge funds and other institutional investors own 95.76% of the company's stock.

Trevi Therapeutics Stock Up 3.7%

NASDAQ TRVI traded up $0.27 on Wednesday, hitting $7.60. 1,720,360 shares of the stock were exchanged, compared to its average volume of 1,812,501. Trevi Therapeutics, Inc. has a fifty-two week low of $2.36 and a fifty-two week high of $8.11. The company has a market cap of $925.53 million, a PE ratio of -18.09 and a beta of 0.58. The company has a 50-day moving average price of $6.65 and a 200-day moving average price of $5.99.

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. As a group, equities research analysts predict that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TRVI shares. D. Boral Capital reaffirmed 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 started 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. Raymond James Financial cut their target price on shares of Trevi Therapeutics from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a research note on Friday, August 8th. Wall Street Zen downgraded shares of Trevi Therapeutics from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Finally, HC Wainwright started coverage on shares of Trevi Therapeutics in a research note on Wednesday, May 28th. They set a "buy" rating and a $21.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $20.38.

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.