Point72 Asset Management L.P. Purchases Shares of 4,150,237 Trevi Therapeutics, Inc. (NASDAQ:TRVI)

Point72 Asset Management L.P. acquired a new stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,150,237 shares of the company's stock, valued at approximately $17,099,000. Point72 Asset Management L.P. owned 5.40% of Trevi Therapeutics at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of TRVI. Summit Investment Advisors Inc. lifted its stake in shares of Trevi Therapeutics by 84.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company's stock valued at $26,000 after buying an additional 2,894 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Trevi Therapeutics during the 4th quarter valued at $49,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Trevi Therapeutics during the fourth quarter worth $67,000. Cantor Fitzgerald L. P. purchased a new stake in shares of Trevi Therapeutics during the fourth quarter worth $82,000. Finally, ProShare Advisors LLC boosted 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 acquiring an additional 9,589 shares during the period. 95.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Trevi Therapeutics

In other news, insider Farrell Simon sold 81,313 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $6.75, for a total transaction of $548,862.75. Following the transaction, the insider now directly owns 76,900 shares in the company, valued at approximately $519,075. This represents a 51.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jennifer L. Good sold 5,263 shares of the business's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $6.58, for a total value of $34,630.54. Following the completion of the sale, the chief executive officer now owns 213,313 shares of the company's stock, valued at $1,403,599.54. The trade was a 2.41% decrease in their position. The disclosure for this sale can be found here. 18.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TRVI. Needham & Company LLC reiterated a "buy" rating and set a $24.00 price objective on shares of Trevi Therapeutics in a research note on Tuesday. HC Wainwright reiterated a "buy" rating and set a $12.50 price target on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. D. Boral Capital restated a "buy" rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Raymond James raised shares of Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the company from $9.00 to $29.00 in a research note on Monday, March 10th. Finally, Oppenheimer increased their target price on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 11th. Seven investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $17.56.

Trevi Therapeutics Stock Performance

Trevi Therapeutics stock traded up $0.18 during mid-day trading on Friday, hitting $6.21. 613,342 shares of the company traded hands, compared to its average volume of 1,722,077. Trevi Therapeutics, Inc. has a one year low of $2.30 and a one year high of $7.39. The stock has a market cap of $620.34 million, a price-to-earnings ratio of -14.11 and a beta of 0.62. The stock has a fifty day moving average price of $6.27 and a 200-day moving average price of $4.72.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.04. Sell-side analysts predict that Trevi Therapeutics, Inc. will post -0.49 EPS for the current 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.