Peregrine Capital Management LLC Lowers Stake in Trevi Therapeutics, Inc. $TRVI

Key Points

• Peregrine Capital Management reduced its stake in Trevi by 18.2%, selling 112,779 shares in Q4 to hold 507,685 shares (0.40% of the company) valued at about $6.36 million.
• Institutional ownership is very high at 95.76%, with several firms increasing positions—most notably Vivo Capital owning 5,094,668 shares (~$46.6M) and SG Americas and Zurcher Kantonalbank sharply adding shares.
• Analyst sentiment and stock metrics: TRVI trades around $14.19 (52-week range $5.38–$16.12) with a $1.82B market cap, an average "Buy" rating and a consensus target price of $21.60 (Needham raised its target to $24).

Peregrine Capital Management LLC lowered its position in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 18.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 507,685 shares of the company's stock after selling 112,779 shares during the quarter. Peregrine Capital Management LLC owned 0.40% of Trevi Therapeutics worth $6,356,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Trevi Therapeutics by 85.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,681 shares of the company's stock valued at $584,000 after purchasing an additional 21,503 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Trevi Therapeutics by 32.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,231 shares of the company's stock valued at $78,000 after purchasing an additional 1,523 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Trevi Therapeutics by 93.0% during the fourth quarter. SG Americas Securities LLC now owns 124,562 shares of the company's stock valued at $1,560,000 after purchasing an additional 60,017 shares in the last quarter. Diversified Trust Co. lifted its holdings in Trevi Therapeutics by 14.6% during the fourth quarter. Diversified Trust Co. now owns 20,984 shares of the company's stock valued at $263,000 after purchasing an additional 2,675 shares in the last quarter. Finally, Vivo Capital LLC lifted its holdings in Trevi Therapeutics by 13.5% during the third quarter. Vivo Capital LLC now owns 5,094,668 shares of the company's stock valued at $46,616,000 after purchasing an additional 606,765 shares in the last quarter. Hedge funds and other institutional investors own 95.76% of the company's stock.

Trevi Therapeutics Stock Performance

TRVI stock opened at $14.19 on Friday. Trevi Therapeutics, Inc. has a one year low of $5.38 and a one year high of $16.12. The company's fifty day moving average price is $12.12 and its 200-day moving average price is $11.70. The company has a market capitalization of $1.82 billion, a PE ratio of -44.34 and a beta of 0.99.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last released its earnings results on Tuesday, March 17th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.04. On average, research analysts predict that Trevi Therapeutics, Inc. will post -0.46 EPS for the current fiscal year.

Analysts Set New Price Targets

TRVI has been the topic of several analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Trevi Therapeutics in a report on Monday. Needham & Company LLC lifted their price target on shares of Trevi Therapeutics from $22.00 to $24.00 and gave the company a "buy" rating in a report on Wednesday, March 18th. JonesTrading lowered their price target on shares of Trevi Therapeutics from $25.00 to $24.00 and set a "buy" rating on the stock in a report on Thursday, March 19th. D. Boral Capital reissued a "buy" rating and issued a $19.00 target price on shares of Trevi Therapeutics in a report on Friday, April 17th. Finally, HC Wainwright reissued a "buy" rating and issued a $21.00 target price on shares of Trevi Therapeutics in a report on Monday, March 9th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Trevi Therapeutics currently has an average rating of "Buy" and a consensus target price of $21.60.

Trevi Therapeutics Profile

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel non-opioid therapies for the management of chronic and acute pain. The company leverages proprietary drug delivery platforms and targeted molecular approaches to address high unmet needs in cancer-related pain, chemotherapy-induced neuropathy and other severe pain conditions.

Its lead product candidate is a proprietary formulation of tetrodotoxin (TTX), a sodium-channel blocking agent being evaluated in early-stage clinical trials for moderate-to-severe pain associated with advanced cancer and peripheral neuropathy.

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