Invesco Ltd. Grows Stock Position in Trevi Therapeutics, Inc. $TRVI

Key Points

• Invesco Ltd. significantly increased its stake in Trevi Therapeutics, acquiring 829,364 shares, boosting its holdings by 3,511.1%, resulting in ownership of 852,985 shares valued at approximately $5.36 million.
• Other major investors, including Deutsche Bank and Charles Schwab, also raised their stakes in Trevi Therapeutics during the first quarter, indicating growing institutional interest in the company.
• Trevi's stock price stood at $8.00 with a market capitalization of $974.24 million, while analysts project a consensus target price of $20.11 highlighting potential growth despite recent downgrades.

Invesco Ltd. increased its holdings in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 3,511.1% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 852,985 shares of the company's stock after buying an additional 829,364 shares during the quarter. Invesco Ltd. owned about 0.85% of Trevi Therapeutics worth $5,365,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. boosted its position in Trevi Therapeutics by 10.0% in the first quarter. China Universal Asset Management Co. Ltd. now owns 17,925 shares of the company's stock worth $113,000 after purchasing an additional 1,627 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Trevi Therapeutics by 32.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,166 shares of the company's stock worth $104,000 after purchasing an additional 6,119 shares in the last quarter. Deutsche Bank AG increased its stake in Trevi Therapeutics by 28.7% in the 1st quarter. Deutsche Bank AG now owns 37,626 shares of the company's stock worth $237,000 after acquiring an additional 8,383 shares during the last quarter. Wells Fargo & Company MN increased its stake in Trevi Therapeutics by 40.7% in the 4th quarter. Wells Fargo & Company MN now owns 33,050 shares of the company's stock worth $136,000 after acquiring an additional 9,562 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in Trevi Therapeutics by 86.4% in the 4th quarter. ProShare Advisors LLC now owns 20,685 shares of the company's stock worth $85,000 after acquiring an additional 9,589 shares during the last quarter. 95.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on TRVI. Cantor Fitzgerald began coverage on Trevi Therapeutics in a research report on Tuesday, July 1st. They set an "overweight" rating and a $25.00 target price on the stock. Wall Street Zen downgraded Trevi Therapeutics from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. Needham & Company LLC cut their price objective on Trevi Therapeutics from $24.00 to $22.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Oppenheimer reiterated an "outperform" rating on shares of Trevi Therapeutics in a report on Monday, June 2nd. Finally, D. Boral Capital reiterated a "buy" rating and issued a $21.00 target price on shares of Trevi Therapeutics in a report on Monday, June 2nd. Two equities research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to data from MarketBeat, Trevi Therapeutics has a consensus rating of "Buy" and a consensus target price of $20.11.

Trevi Therapeutics Trading Up 0.1%

Trevi Therapeutics stock traded up $0.01 during mid-day trading on Tuesday, hitting $7.27. The company had a trading volume of 2,065,152 shares, compared to its average volume of 1,840,759. Trevi Therapeutics, Inc. has a 12-month low of $2.36 and a 12-month high of $8.78. The company's fifty day moving average is $6.98 and its 200-day moving average is $6.33. The company has a market capitalization of $885.34 million, a price-to-earnings ratio of -17.31 and a beta of 0.71.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.01. As a group, sell-side analysts expect that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal year.

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.