Trevi Therapeutics, Inc. (NASDAQ:TRVI) Holdings Trimmed by VR Adviser LLC

VR Adviser LLC reduced its position in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 63.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,266,457 shares of the company's stock after selling 2,156,199 shares during the quarter. VR Adviser LLC owned about 1.65% of Trevi Therapeutics worth $5,218,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TRVI. Point72 Asset Management L.P. acquired a new stake in shares of Trevi Therapeutics in the fourth quarter valued at approximately $17,099,000. Woodline Partners LP boosted its holdings in shares of Trevi Therapeutics by 429.9% in the fourth quarter. Woodline Partners LP now owns 3,212,597 shares of the company's stock valued at $13,236,000 after acquiring an additional 2,606,370 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Trevi Therapeutics in the fourth quarter valued at approximately $10,300,000. Acorn Capital Advisors LLC acquired a new stake in shares of Trevi Therapeutics in the fourth quarter valued at approximately $8,244,000. Finally, Vivo Capital LLC boosted its holdings in shares of Trevi Therapeutics by 116.3% in the fourth quarter. Vivo Capital LLC now owns 3,487,903 shares of the company's stock valued at $14,370,000 after acquiring an additional 1,875,000 shares during the period. 95.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TRVI has been the subject of several research analyst reports. Raymond James raised Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and increased their price objective for the company from $9.00 to $29.00 in a report on Monday, March 10th. Oppenheimer lifted their price objective on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the company an "outperform" rating in a research report on Tuesday, March 11th. Needham & Company LLC reiterated a "buy" rating and issued a $24.00 price objective on shares of Trevi Therapeutics in a research report on Tuesday, May 20th. D. Boral Capital reiterated a "buy" rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Finally, HC Wainwright reiterated a "buy" rating and issued a $12.50 price objective on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Seven investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Trevi Therapeutics currently has a consensus rating of "Buy" and an average target price of $17.56.

Trevi Therapeutics Stock Up 4.3%

NASDAQ TRVI traded up $0.26 during trading hours on Friday, hitting $6.29. The company had a trading volume of 1,230,994 shares, compared to its average volume of 1,204,821. Trevi Therapeutics, Inc. has a fifty-two week low of $2.30 and a fifty-two week high of $7.39. The business has a fifty day simple moving average of $6.27 and a 200-day simple moving average of $4.76. The firm has a market cap of $628.33 million, a P/E ratio of -14.30 and a beta of 0.62.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.04. Equities analysts forecast that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other Trevi Therapeutics news, insider Farrell Simon sold 81,313 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $6.75, for a total value of $548,862.75. Following the sale, the insider now directly owns 76,900 shares of the company's stock, valued at $519,075. This trade represents a 51.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jennifer L. Good sold 5,263 shares of the firm's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $6.58, for a total value of $34,630.54. Following the transaction, the chief executive officer now directly owns 213,313 shares in the company, valued at $1,403,599.54. This trade represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.30% of the stock is owned by corporate insiders.

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.