Trevi Therapeutics, Inc. $TRVI Shares Sold by Orbimed Advisors LLC

Key Points

• Orbimed Advisors reduced its Trevi Therapeutics stake by 23.1% in the first quarter, selling 736,300 shares and retaining 2.45 million shares valued at approximately $29.3 million. Institutional investors and hedge funds own 95.76% of the company.
• Trevi shares opened at $17.53, with a market capitalization of about $2.49 billion, after trading between $6.55 and $20.22 over the past year. The company’s latest quarterly loss of $0.09 per share missed analyst expectations of a $0.07 loss.
• Analyst sentiment remains broadly positive, with an average rating of “Buy” and a consensus price target of $24.91, although some firms maintain sell ratings. Trevi is developing non-opioid pain treatments, including a tetrodotoxin-based therapy for cancer-related pain and peripheral neuropathy.

Orbimed Advisors LLC lessened its stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 23.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,454,400 shares of the company's stock after selling 736,300 shares during the quarter. Orbimed Advisors LLC owned approximately 1.73% of Trevi Therapeutics worth $29,281,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its position in shares of Trevi Therapeutics by 194.5% in the second quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company's stock valued at $25,000 after purchasing an additional 2,996 shares during the period. KBC Group NV acquired a new position in shares of Trevi Therapeutics during the 1st quarter worth about $29,000. Hilton Head Capital Partners LLC purchased a new position in Trevi Therapeutics in the 4th quarter valued at about $40,000. Caitong International Asset Management Co. Ltd purchased a new position in Trevi Therapeutics in the 4th quarter valued at about $50,000. Finally, Strs Ohio acquired a new stake in Trevi Therapeutics in the 1st quarter worth about $52,000. 95.76% of the stock is currently owned by institutional investors and hedge funds.

Trevi Therapeutics Trading Down 0.1%

TRVI opened at $17.53 on Monday. Trevi Therapeutics, Inc. has a twelve month low of $6.55 and a twelve month high of $20.22. The firm has a market capitalization of $2.49 billion, a PE ratio of -54.78 and a beta of 1.00. The firm's 50-day moving average price is $16.11 and its 200 day moving average price is $13.51.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.02). As a group, analysts predict that Trevi Therapeutics, Inc. will post -0.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. D. Boral Capital reiterated a "buy" rating and set a $19.00 price objective on shares of Trevi Therapeutics in a research note on Friday, April 17th. BMO Capital Markets started coverage on Trevi Therapeutics in a research report on Monday, July 20th. They issued an "outperform" rating and a $36.00 target price on the stock. Morgan Stanley reaffirmed an "overweight" rating and issued a $20.00 price target on shares of Trevi Therapeutics in a research note on Wednesday, May 6th. Wall Street Zen cut Trevi Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Trevi Therapeutics in a research note on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $24.91.

About Trevi Therapeutics

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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