Cubist Systematic Strategies LLC Has $1.30 Million Position in 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 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 206,962 shares of the company's stock after purchasing an additional 117,653 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.21% of Trevi Therapeutics worth $1,302,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Two Sigma Investments LP bought a new stake in Trevi Therapeutics during the fourth quarter worth about $560,000. Ameriprise Financial Inc. grew its stake in Trevi Therapeutics by 187.0% during the fourth quarter. Ameriprise Financial Inc. now owns 96,784 shares of the company's stock worth $399,000 after buying an additional 63,067 shares during the last quarter. Vontobel Holding Ltd. bought a new stake in Trevi Therapeutics during the first quarter worth about $197,000. Raymond James Financial Inc. grew its stake in Trevi Therapeutics by 4,144.8% during the first quarter. Raymond James Financial Inc. now owns 509,379 shares of the company's stock worth $3,204,000 after buying an additional 497,379 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Trevi Therapeutics by 11.3% during the fourth quarter. Northern Trust Corp now owns 482,815 shares of the company's stock worth $1,989,000 after buying an additional 49,173 shares during the last quarter. Institutional investors and hedge funds own 95.76% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on TRVI shares. Raymond James Financial decreased their price objective on shares of Trevi Therapeutics from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a research note on Friday, August 8th. 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 on the stock. Needham & Company LLC decreased their price objective on shares of Trevi Therapeutics from $24.00 to $22.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Oppenheimer reissued an "outperform" rating on shares of Trevi Therapeutics in a research note on Monday, June 2nd. Finally, D. Boral Capital reissued a "buy" rating and set a $21.00 price target on shares of Trevi Therapeutics in a research note on Monday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $21.75.

Trevi Therapeutics Trading Down 7.9%

Shares of TRVI traded down $0.77 during mid-day trading on Friday, hitting $8.98. 684,201 shares of the company traded hands, compared to its average volume of 1,940,489. Trevi Therapeutics, Inc. has a one year low of $2.36 and a one year high of $9.92. The business has a 50-day moving average of $7.31 and a 200 day moving average of $6.49. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -21.39 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 the consensus estimate of ($0.10) by $0.01. As a group, analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current 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.