Octagon Capital Advisors LP Invests $20.90 Million 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 bought a new position in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 3,322,000 shares of the company's stock, valued at approximately $20,895,000. Trevi Therapeutics accounts for approximately 2.2% of Octagon Capital Advisors LP's investment portfolio, 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.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Trevi Therapeutics during the fourth quarter valued at about $49,000. Dimensional Fund Advisors LP boosted its holdings in Trevi Therapeutics by 86.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 134,353 shares of the company's stock valued at $553,000 after acquiring an additional 62,143 shares during the period. Price T Rowe Associates Inc. MD grew its position in Trevi Therapeutics by 32.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,166 shares of the company's stock worth $104,000 after acquiring an additional 6,119 shares during the last quarter. Northern Trust Corp increased its stake in Trevi Therapeutics by 11.3% in the 4th quarter. Northern Trust Corp now owns 482,815 shares of the company's stock worth $1,989,000 after purchasing an additional 49,173 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Trevi Therapeutics by 187.0% in the fourth quarter. Ameriprise Financial Inc. now owns 96,784 shares of the company's stock valued at $399,000 after purchasing an additional 63,067 shares during the last quarter. 95.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TRVI has been the subject of a number of analyst reports. 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 report on Friday, August 8th. Oppenheimer reissued an "outperform" rating on shares of Trevi Therapeutics in a research report on Monday, June 2nd. Cantor Fitzgerald initiated 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. Morgan Stanley assumed coverage on shares of Trevi Therapeutics in a research note on Thursday, August 21st. They set an "overweight" rating and a $18.00 price objective for the company. Finally, Needham & Company LLC dropped their target price on shares of Trevi Therapeutics from $24.00 to $22.00 and set a "buy" rating for the company in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $21.75.

Trevi Therapeutics Trading Down 15.4%

NASDAQ TRVI traded down $1.50 during trading on Friday, hitting $8.25. The company had a trading volume of 3,619,982 shares, compared to its average volume of 2,751,478. The company's fifty day moving average is $7.36 and its 200-day moving average is $6.52. Trevi Therapeutics, Inc. has a one year low of $2.36 and a one year high of $9.92. The company has a market cap of $1.00 billion, a price-to-earnings ratio of -19.64 and a beta of 0.71.

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

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.