Acorn Capital Advisors LLC Has $13.49 Million Holdings in Trevi Therapeutics, Inc. $TRVI

Key Points

• Acorn Capital Advisors LLC increased its stake in Trevi Therapeutics, Inc. by 7.2%, holding 2,144,844 shares and making it the 4th largest position in their portfolio.
• Trevi Therapeutics reported an EPS of ($0.09), exceeding estimates, and analysts expect the company to post earnings of -0.49 for the current year.
• Several brokerages have adjusted their price targets for Trevi, ranging from $18.00 to $27.00, with an average target price of $21.75 and most analysts recommending a "Buy" rating.

Acorn Capital Advisors LLC increased its stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 7.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,144,844 shares of the company's stock after purchasing an additional 143,796 shares during the quarter. Trevi Therapeutics makes up approximately 8.8% of Acorn Capital Advisors LLC's holdings, making the stock its 4th largest holding. Acorn Capital Advisors LLC owned 2.15% of Trevi Therapeutics worth $13,491,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Exome Asset Management LLC purchased a new stake in Trevi Therapeutics during the 1st quarter worth about $1,030,000. Octagon Capital Advisors LP purchased a new stake in Trevi Therapeutics during the 1st quarter worth about $20,895,000. Fred Alger Management LLC purchased a new stake in Trevi Therapeutics during the 1st quarter worth about $482,000. Polar Asset Management Partners Inc. purchased a new stake in Trevi Therapeutics during the 1st quarter worth about $403,000. Finally, Millennium Management LLC increased its position in Trevi Therapeutics by 356.3% during the 1st quarter. Millennium Management LLC now owns 823,249 shares of the company's stock worth $5,178,000 after purchasing an additional 642,830 shares in the last quarter. Hedge funds and other institutional investors own 95.76% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Needham & Company LLC lowered their price target on Trevi Therapeutics from $24.00 to $22.00 and set a "buy" rating for the company in a report on Friday, August 8th. Cantor Fitzgerald assumed coverage on Trevi Therapeutics in a report on Tuesday, July 1st. They issued an "overweight" rating and a $25.00 price target for the company. Oppenheimer restated an "outperform" rating on shares of Trevi Therapeutics in a report on Monday, June 2nd. HC Wainwright started coverage on Trevi Therapeutics in a research note on Wednesday, May 28th. They issued a "buy" rating and a $21.00 price objective on the stock. Finally, D. Boral Capital reaffirmed a "buy" rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a research note on Monday, June 2nd. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $21.75.

Trevi Therapeutics Price Performance

Trevi Therapeutics stock traded down $1.50 during midday trading on Friday, hitting $8.25. 3,619,982 shares of the company were exchanged, compared to its average volume of 2,751,478. The company's fifty day moving average price is $7.36 and its 200-day moving average price is $6.52. The company has a market cap of $1.00 billion, a PE ratio of -19.64 and a beta of 0.71. Trevi Therapeutics, Inc. has a fifty-two week low of $2.36 and a fifty-two week high of $9.92.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last posted its quarterly earnings data 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. On average, analysts expect that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal 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.