Octagon Capital Advisors LP Takes $20.90 Million Position in Trevi Therapeutics, Inc. $TRVI

Key Points

• Octagon Capital Advisors LP has made a significant investment of approximately $20.90 million in Trevi Therapeutics, Inc., acquiring 3,322,000 shares, which represents about 3.33% of Trevi's stock.
• Despite a solid investment from various hedge funds, the analysts' ratings for Trevi Therapeutics are mixed, with a consensus rating of "Buy" and a price target averaging $21.75.
• Trevi Therapeutics' stock has seen considerable movement, up 8.4% recently, with a market cap of $925.53 million and a reported earnings per share (EPS) of ($0.09).

Octagon Capital Advisors LP purchased a new stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,322,000 shares of the company's stock, valued at approximately $20,895,000. Trevi Therapeutics accounts for about 2.2% of Octagon Capital Advisors LP's holdings, making the stock its 6th biggest holding. Octagon Capital Advisors LP owned 3.33% of Trevi Therapeutics as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of TRVI. Point72 Asset Management L.P. purchased a new stake in shares of Trevi Therapeutics in the 4th quarter worth $17,099,000. Frazier Life Sciences Management L.P. increased its stake in shares of Trevi Therapeutics by 44.5% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company's stock worth $43,939,000 after purchasing an additional 3,283,684 shares in the last quarter. Armistice Capital LLC purchased a new stake in shares of Trevi Therapeutics in the 1st quarter worth $18,795,000. Woodline Partners LP increased its stake in shares of Trevi Therapeutics by 429.9% in the 4th quarter. Woodline Partners LP now owns 3,212,597 shares of the company's stock worth $13,236,000 after purchasing an additional 2,606,370 shares in the last quarter. Finally, MPM Bioimpact LLC increased its stake in Trevi Therapeutics by 101.2% in the 4th quarter. MPM Bioimpact LLC now owns 3,094,896 shares of the company's stock worth $12,751,000 after buying an additional 1,556,379 shares in the last quarter. 95.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on TRVI. Cantor Fitzgerald began coverage on Trevi Therapeutics in a report on Tuesday, July 1st. They set an "overweight" rating and a $25.00 price target on the stock. HC Wainwright assumed coverage on Trevi Therapeutics in a research report on Wednesday, May 28th. They set a "buy" rating and a $21.00 price objective for the company. Needham & Company LLC cut their price objective on Trevi Therapeutics from $24.00 to $22.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Morgan Stanley assumed coverage on Trevi Therapeutics in a research report on Thursday, August 21st. They set an "overweight" rating and a $18.00 price objective for the company. Finally, Oppenheimer restated an "outperform" rating on shares of Trevi Therapeutics in a research report on Monday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $21.75.

Trevi Therapeutics Trading Down 15.4%

Shares of Trevi Therapeutics stock traded down $1.50 on Friday, hitting $8.25. 3,619,982 shares of the company traded hands, compared to its average volume of 2,887,783. The company has a market cap of $1.00 billion, a PE ratio of -19.64 and a beta of 0.71. Trevi Therapeutics, Inc. has a 52 week low of $2.36 and a 52 week high of $9.92. The stock's 50 day moving average price is $7.36 and its 200-day moving average price is $6.55.

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

Trevi Therapeutics Company 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.