Invesco Ltd. Acquires 829,364 Shares of 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. lifted its stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 3,511.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 852,985 shares of the company's stock after buying an additional 829,364 shares during the period. Invesco Ltd. owned approximately 0.85% of Trevi Therapeutics worth $5,365,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. increased its holdings in shares of 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 buying an additional 1,627 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Trevi Therapeutics by 32.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,166 shares of the company's stock worth $104,000 after buying an additional 6,119 shares during the period. Deutsche Bank AG increased its holdings in shares of Trevi Therapeutics by 28.7% in the first quarter. Deutsche Bank AG now owns 37,626 shares of the company's stock worth $237,000 after buying an additional 8,383 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Trevi Therapeutics by 40.7% in the fourth quarter. Wells Fargo & Company MN now owns 33,050 shares of the company's stock worth $136,000 after buying an additional 9,562 shares during the period. Finally, ProShare Advisors LLC increased its holdings in shares of Trevi Therapeutics by 86.4% in the fourth quarter. ProShare Advisors LLC now owns 20,685 shares of the company's stock worth $85,000 after buying an additional 9,589 shares during the period. Hedge funds and other institutional investors own 95.76% of the company's stock.

Trevi Therapeutics Stock Up 0.7%

Shares of NASDAQ:TRVI traded up $0.05 during trading on Friday, hitting $7.26. The stock had a trading volume of 1,556,560 shares, compared to its average volume of 1,896,855. Trevi Therapeutics, Inc. has a 12 month low of $2.36 and a 12 month high of $8.78. The company has a market capitalization of $884.12 million, a PE ratio of -17.29 and a beta of 0.58. The firm's fifty day moving average is $6.92 and its 200 day moving average is $6.28.

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 the consensus estimate of ($0.10) by $0.01. Equities research analysts expect that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TRVI has been the topic of several analyst reports. Raymond James Financial decreased their price objective on Trevi Therapeutics from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a report on Friday, August 8th. HC Wainwright assumed coverage on Trevi Therapeutics in a report on Wednesday, May 28th. They set a "buy" rating and a $21.00 price target on the stock. Needham & Company LLC dropped their price target on Trevi Therapeutics from $24.00 to $22.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Cantor Fitzgerald assumed coverage on shares of Trevi Therapeutics in a report on Tuesday, July 1st. They issued an "overweight" rating and a $25.00 price target on the stock. Finally, Morgan Stanley started coverage on shares of Trevi Therapeutics in a research report on Thursday, August 21st. They set an "overweight" rating and a $18.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target 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.