Cubist Systematic Strategies LLC Acquires 117,653 Shares of Trevi Therapeutics, Inc. $TRVI

Key Points

• Cubist Systematic Strategies LLC increased its holdings in Trevi Therapeutics by 131.7%, owning 206,962 shares valued at approximately $1.3 million.
• Trevi Therapeutics reported a quarterly earnings per share of ($0.09), surpassing analyst estimates by $0.01, with a projected EPS of -$0.49 for the current year.
• Analysts have an average rating of "Buy" for Trevi Therapeutics, with a target price of $20.11 based on recent upgrades from various investment firms.

Cubist Systematic Strategies LLC increased its holdings in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 131.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 206,962 shares of the company's stock after acquiring an additional 117,653 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.21% of Trevi Therapeutics worth $1,302,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in Trevi Therapeutics in the fourth quarter worth $49,000. Squarepoint Ops LLC purchased a new stake in Trevi Therapeutics in the fourth quarter worth $58,000. Diversified Trust Co purchased a new stake in Trevi Therapeutics in the first quarter worth $94,000. Two Sigma Advisers LP purchased a new stake in Trevi Therapeutics in the fourth quarter worth $66,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Trevi Therapeutics by 10.0% in the first quarter. China Universal Asset Management Co. Ltd. now owns 17,925 shares of the company's stock worth $113,000 after acquiring an additional 1,627 shares during the period. Hedge funds and other institutional investors own 95.76% of the company's stock.

Trevi Therapeutics Stock Performance

Shares of TRVI traded down $1.50 during trading hours on Friday, hitting $8.25. The company had a trading volume of 3,619,982 shares, compared to its average volume of 2,751,478. The firm has a fifty day moving average price of $7.36 and a 200-day moving average price of $6.52. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of -19.64 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.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last posted its quarterly earnings results 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. Research analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TRVI has been the subject of several recent research reports. Cantor Fitzgerald initiated coverage on Trevi Therapeutics in a research report on Tuesday, July 1st. They set an "overweight" rating and a $25.00 price objective for the company. Needham & Company LLC lowered their price objective on Trevi Therapeutics from $24.00 to $22.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Wall Street Zen lowered Trevi Therapeutics from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. Raymond James Financial lowered their price objective on Trevi Therapeutics from $29.00 to $27.00 and set a "strong-buy" rating for the company in a research report on Friday, August 8th. Finally, Morgan Stanley initiated coverage on Trevi Therapeutics in a research report on Thursday, August 21st. They set an "overweight" rating and a $18.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $21.75.

Trevi Therapeutics 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.