Woodline Partners LP Sells 1,154,785 Shares of Trevi Therapeutics, Inc. $TRVI

Key Points

• Woodline Partners LP reduced its stake in Trevi Therapeutics by 35.9%, now holding approximately $12.94 million worth of shares.
• Institutional investors collectively own 95.76% of Trevi Therapeutics stock, indicating strong institutional support and interest.
• Despite recent sell-offs, Trevi Therapeutics shares increased 1.4% recently, with an average target price by analysts set at $21.75.

Woodline Partners LP trimmed its position in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 35.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,057,812 shares of the company's stock after selling 1,154,785 shares during the period. Woodline Partners LP owned 2.06% of Trevi Therapeutics worth $12,944,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its position in shares of Trevi Therapeutics by 10.0% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 17,925 shares of the company's stock valued at $113,000 after purchasing an additional 1,627 shares during the period. American Century Companies Inc. raised its position in shares of Trevi Therapeutics by 2.1% during the 1st quarter. American Century Companies Inc. now owns 79,796 shares of the company's stock valued at $502,000 after purchasing an additional 1,653 shares during the period. AQR Capital Management LLC raised its position in shares of Trevi Therapeutics by 20.4% during the 1st quarter. AQR Capital Management LLC now owns 27,720 shares of the company's stock valued at $174,000 after purchasing an additional 4,688 shares during the period. MetLife Investment Management LLC raised its position in shares of Trevi Therapeutics by 15.1% during the 1st quarter. MetLife Investment Management LLC now owns 44,656 shares of the company's stock valued at $281,000 after purchasing an additional 5,871 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Trevi Therapeutics by 32.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,166 shares of the company's stock valued at $104,000 after purchasing an additional 6,119 shares during the period. 95.76% of the stock is currently owned by institutional investors.

Trevi Therapeutics Stock Up 2.7%

TRVI traded up $0.22 on Wednesday, reaching $8.18. 225,020 shares of the company traded hands, compared to its average volume of 1,960,977. Trevi Therapeutics, Inc. has a one year low of $2.36 and a one year high of $9.92. The firm has a fifty day simple moving average of $7.45 and a two-hundred day simple moving average of $6.58. The company has a market cap of $995.55 million, a P/E ratio of -19.47 and a beta of 0.71.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates of ($0.10) by $0.01. On average, equities analysts forecast that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TRVI has been the topic of several recent analyst reports. D. Boral Capital restated a "buy" rating and set a $21.00 price objective on shares of Trevi Therapeutics in a research report on Monday, June 2nd. Cantor Fitzgerald started coverage on shares of Trevi Therapeutics in a research note on Tuesday, July 1st. They set an "overweight" rating and a $25.00 target price for the company. Needham & Company LLC cut their target price on shares of Trevi Therapeutics from $24.00 to $22.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Morgan Stanley started coverage on shares of Trevi Therapeutics in a research note on Thursday, August 21st. They set an "overweight" rating and a $18.00 target price for the company. Finally, Raymond James Financial cut their target price on shares of 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. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $21.75.

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.