Trevi Therapeutics, Inc. (NASDAQ:TRVI) Shares Purchased by Millennium Management LLC

Millennium Management LLC boosted its position in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 774.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 180,419 shares of the company's stock after purchasing an additional 159,798 shares during the period. Millennium Management LLC owned about 0.23% of Trevi Therapeutics worth $743,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. lifted its position 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 acquiring an additional 2,894 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Trevi Therapeutics during the 4th quarter valued at approximately $49,000. Cantor Fitzgerald L. P. acquired a new stake in shares of Trevi Therapeutics during the 4th quarter valued at approximately $82,000. Jump Financial LLC acquired a new stake in shares of Trevi Therapeutics during the 4th quarter valued at approximately $89,000. Finally, Invesco Ltd. lifted its position in shares of Trevi Therapeutics by 21.2% during the 4th quarter. Invesco Ltd. now owns 23,621 shares of the company's stock valued at $97,000 after acquiring an additional 4,133 shares during the period. Institutional investors and hedge funds own 95.76% of the company's stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TRVI shares. Wall Street Zen downgraded shares of Trevi Therapeutics from a "hold" rating to a "sell" rating in a research report on Friday. Needham & Company LLC reiterated a "buy" rating and set a $24.00 price target on shares of Trevi Therapeutics in a research report on Tuesday, May 20th. B. Riley reiterated a "buy" rating and set a $20.00 price target (up from $11.00) on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. HC Wainwright started coverage on shares of Trevi Therapeutics in a research note on Wednesday, May 28th. They set a "buy" rating and a $21.00 price objective for the company. Finally, Raymond James raised shares of Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and raised their price objective for the stock from $9.00 to $29.00 in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $18.63.

Trevi Therapeutics Price Performance

Shares of TRVI opened at $7.06 on Friday. The stock has a market cap of $705.24 million, a price-to-earnings ratio of -16.05 and a beta of 0.59. Trevi Therapeutics, Inc. has a 1-year low of $2.30 and a 1-year high of $7.48. The firm has a 50 day simple moving average of $6.26 and a 200-day simple moving average of $4.99.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.04. On average, equities analysts expect that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current fiscal 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.

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