Pictet Asset Management Holding SA Purchases 1,520,754 Shares of Trevi Therapeutics, Inc. $TRVI

Key Points

• Pictet Asset Management bought an additional 1,520,754 shares in Q4 (a 13,507% increase), leaving it with 1,532,013 shares — roughly 1.19% of Trevi worth about $19.18 million.
• Institutional ownership is very high at 95.76%, with other large purchases including Millennium Management's 642,830-share increase (now 823,249 shares), signaling notable institutional accumulation.
• Analysts have an average Buy rating and a consensus price target of $21.60 versus the current price near $13.87; Trevi is a clinical‑stage biotech developing non‑opioid pain therapies (lead candidate: TTX) and currently posts negative earnings.

Pictet Asset Management Holding SA increased its position in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 13,507.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,532,013 shares of the company's stock after purchasing an additional 1,520,754 shares during the quarter. Pictet Asset Management Holding SA owned approximately 1.19% of Trevi Therapeutics worth $19,181,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its stake in Trevi Therapeutics by 20.4% during the first quarter. AQR Capital Management LLC now owns 27,720 shares of the company's stock worth $174,000 after buying an additional 4,688 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Trevi Therapeutics by 31.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,143 shares of the company's stock valued at $278,000 after acquiring an additional 10,445 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Trevi Therapeutics by 356.3% in the 1st quarter. Millennium Management LLC now owns 823,249 shares of the company's stock worth $5,178,000 after acquiring an additional 642,830 shares in the last quarter. Strs Ohio acquired a new position in shares of Trevi Therapeutics in the 1st quarter worth approximately $52,000. Finally, Creative Planning grew its position in Trevi Therapeutics by 17.5% during the 2nd quarter. Creative Planning now owns 20,247 shares of the company's stock worth $111,000 after acquiring an additional 3,016 shares during the last quarter. 95.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on TRVI shares. Morgan Stanley cut their price objective on Trevi Therapeutics from $19.00 to $18.00 and set an "overweight" rating for the company in a research report on Wednesday, March 18th. HC Wainwright reaffirmed a "buy" rating and issued a $21.00 price target on shares of Trevi Therapeutics in a report on Monday, March 9th. Oppenheimer reiterated an "outperform" rating on shares of Trevi Therapeutics in a research report on Monday, March 9th. JonesTrading decreased their price objective 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. Finally, Needham & Company LLC raised their price objective on shares of Trevi Therapeutics from $22.00 to $24.00 and gave the company a "buy" rating in a research report on Wednesday, March 18th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $21.60.

Trevi Therapeutics Stock Up 0.8%

TRVI stock opened at $13.87 on Friday. Trevi Therapeutics, Inc. has a twelve month low of $5.38 and a twelve month high of $16.12. The company has a market cap of $1.78 billion, a P/E ratio of -43.34 and a beta of 1.07. The business has a fifty day moving average of $12.49 and a 200-day moving average of $11.84.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last posted its quarterly earnings results on Tuesday, March 17th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04. As a group, equities research analysts anticipate that Trevi Therapeutics, Inc. will post -0.46 earnings per share for the current fiscal year.

Trevi Therapeutics Company 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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