Acorn Capital Advisors LLC Has $13.49 Million Position 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 raised its position in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 7.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,144,844 shares of the company's stock after buying an additional 143,796 shares during the quarter. Trevi Therapeutics accounts for 8.8% of Acorn Capital Advisors LLC's portfolio, making the stock its 4th largest position. Acorn Capital Advisors LLC owned about 2.15% of Trevi Therapeutics worth $13,491,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Trevi Therapeutics during the fourth quarter valued at approximately $49,000. Squarepoint Ops LLC acquired a new position in Trevi Therapeutics during the fourth quarter valued at approximately $58,000. Two Sigma Advisers LP acquired a new stake in shares of Trevi Therapeutics in the fourth quarter worth $66,000. ProShare Advisors LLC grew its stake in shares of Trevi Therapeutics by 86.4% in the fourth quarter. ProShare Advisors LLC now owns 20,685 shares of the company's stock worth $85,000 after acquiring an additional 9,589 shares during the last quarter. Finally, Diversified Trust Co acquired a new stake in shares of Trevi Therapeutics in the first quarter worth $94,000. 95.76% of the stock is owned by hedge funds and other institutional investors.

Trevi Therapeutics Stock Performance

Shares of NASDAQ TRVI traded down $1.50 during midday trading on Friday, reaching $8.25. 3,619,982 shares of the company traded hands, compared to its average volume of 2,751,478. The firm has a market cap of $1.00 billion, a PE ratio of -19.64 and a beta of 0.71. The stock's 50-day simple moving average is $7.36 and its 200-day simple moving average is $6.53. Trevi Therapeutics, Inc. has a 12 month low of $2.36 and a 12 month high of $9.92.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC lowered 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 reiterated an "outperform" rating on shares of Trevi Therapeutics in a research note on Monday, June 2nd. Cantor Fitzgerald assumed coverage on shares of Trevi Therapeutics in a research note on Tuesday, July 1st. They set an "overweight" rating and a $25.00 price target on the stock. Morgan Stanley assumed coverage on shares of Trevi Therapeutics in a research note on Thursday, August 21st. They set an "overweight" rating and a $18.00 price target on the stock. Finally, D. Boral Capital reiterated a "buy" rating and set a $21.00 price target on shares of Trevi Therapeutics in a research note on Monday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price 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.