Polar Asset Management Partners Inc. Purchases New Shares in Trevi Therapeutics, Inc. $TRVI

Key Points

• Polar Asset Management Partners Inc. acquired 64,050 shares of Trevi Therapeutics, valued at approximately $403,000, increasing its ownership to about 0.06% of the company.
• Hedge funds and institutional investors hold approximately 95.76% of Trevi Therapeutics' stock, with multiple firms increasing their stakes recently.
• Analysts have a consensus rating of "Buy" for Trevi Therapeutics, with price targets ranging from $20.11 to $29.00 per share.

Polar Asset Management Partners Inc. acquired a new stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 64,050 shares of the company's stock, valued at approximately $403,000. Polar Asset Management Partners Inc. owned approximately 0.06% of Trevi Therapeutics as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Two Sigma Investments LP bought a new stake in Trevi Therapeutics during the 4th quarter valued at approximately $560,000. Ameriprise Financial Inc. raised its stake in Trevi Therapeutics by 187.0% during the 4th 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 period. Vontobel Holding Ltd. bought a new stake in Trevi Therapeutics during the 1st quarter valued at approximately $197,000. Raymond James Financial Inc. raised its stake in Trevi Therapeutics by 4,144.8% during the 1st quarter. Raymond James Financial Inc. now owns 509,379 shares of the company's stock valued at $3,204,000 after purchasing an additional 497,379 shares during the period. Finally, Northern Trust Corp raised its stake in Trevi Therapeutics by 11.3% during the 4th quarter. Northern Trust Corp now owns 482,815 shares of the company's stock valued at $1,989,000 after purchasing an additional 49,173 shares during the period. Institutional investors own 95.76% of the company's stock.

Analysts Set New Price Targets

TRVI has been the topic of several recent analyst reports. Raymond James Financial decreased their target price on Trevi Therapeutics from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a research note on Friday, August 8th. Wall Street Zen downgraded Trevi Therapeutics from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Cantor Fitzgerald began coverage on Trevi Therapeutics in a research note on Tuesday, July 1st. They set an "overweight" rating and a $25.00 target price on the stock. HC Wainwright initiated coverage on Trevi Therapeutics in a research note on Wednesday, May 28th. They issued a "buy" rating and a $21.00 price objective on the stock. Finally, Morgan Stanley initiated coverage on Trevi Therapeutics in a report on Thursday, August 21st. They set an "overweight" rating and a $18.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $21.75.

Trevi Therapeutics Stock Performance

Shares of TRVI traded down $0.90 during mid-day trading on Friday, hitting $8.85. 1,390,993 shares of the stock were exchanged, compared to its average volume of 1,944,855. The company has a market cap of $1.08 billion, a PE ratio of -20.96 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 firm has a 50-day moving average of $7.31 and a two-hundred day moving average of $6.49.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.01. On average, 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.