Siren L.L.C. Trims Holdings in Trevi Therapeutics, Inc. $TRVI

Key Points

• Siren L.L.C. reduced its stake in Trevi Therapeutics by 1.5%, selling 42,267 shares, and now holds 2,863,793 shares, representing approximately 1.0% of its investment portfolio.
• The stock of Trevi Therapeutics opened at $9.62 with a market cap of $1.17 billion, experiencing a 1-year low of $2.36 and a high of $9.81.
• Analysts have mixed ratings on Trevi Therapeutics with a general consensus of "Buy" and a price target averaging $21.75, while Raymond James recently lowered their target from $29.00 to $27.00.

Siren L.L.C. reduced its stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 1.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,863,793 shares of the company's stock after selling 42,267 shares during the period. Trevi Therapeutics makes up about 1.0% of Siren L.L.C.'s holdings, making the stock its 24th largest holding. Siren L.L.C. owned 2.87% of Trevi Therapeutics worth $18,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Trevi Therapeutics during the fourth quarter valued at $49,000. Squarepoint Ops LLC bought a new stake in Trevi Therapeutics during the fourth quarter valued at $58,000. Two Sigma Advisers LP bought a new stake in Trevi Therapeutics during the fourth quarter valued at $66,000. ProShare Advisors LLC boosted its stake in Trevi Therapeutics by 86.4% during the fourth quarter. ProShare Advisors LLC now owns 20,685 shares of the company's stock valued at $85,000 after buying an additional 9,589 shares during the period. Finally, Diversified Trust Co bought a new stake in Trevi Therapeutics during the first quarter valued at $94,000. 95.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TRVI shares. Morgan Stanley started coverage on Trevi Therapeutics in a research note on Thursday, August 21st. They set an "overweight" rating and a $18.00 price objective for the company. Raymond James Financial dropped their price target on Trevi Therapeutics from $29.00 to $27.00 and set a "strong-buy" rating for the company in a research note on Friday, August 8th. Oppenheimer reaffirmed an "outperform" rating on shares of Trevi Therapeutics in a research note on Monday, June 2nd. Needham & Company LLC dropped their price target on Trevi Therapeutics from $24.00 to $22.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Finally, Wall Street Zen lowered Trevi Therapeutics from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. One investment analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $21.75.

Trevi Therapeutics Stock Down 1.2%

Shares of TRVI traded down $0.10 during trading hours on Tuesday, hitting $7.96. The company had a trading volume of 2,974,906 shares, compared to its average volume of 2,988,989. The firm has a market cap of $969.37 million, a P/E ratio of -18.95 and a beta of 0.71. The stock's 50 day moving average price is $7.45 and its 200 day moving average price is $6.58. Trevi Therapeutics, Inc. has a 52-week low of $2.36 and a 52-week high of $9.92.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.01. On average, research analysts expect that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal year.

About Trevi Therapeutics

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.