VR Adviser LLC Reduces Stock Position in Trevi Therapeutics, Inc. (NASDAQ:TRVI)

VR Adviser LLC lessened its stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 63.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,266,457 shares of the company's stock after selling 2,156,199 shares during the quarter. VR Adviser LLC owned approximately 1.65% of Trevi Therapeutics worth $5,218,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. purchased a new stake in Trevi Therapeutics during the 4th quarter worth about $17,099,000. Vivo Capital LLC increased its position in Trevi Therapeutics by 116.3% during the 4th quarter. Vivo Capital LLC now owns 3,487,903 shares of the company's stock worth $14,370,000 after purchasing an additional 1,875,000 shares in the last quarter. Woodline Partners LP increased its position in Trevi Therapeutics by 429.9% during the 4th quarter. Woodline Partners LP now owns 3,212,597 shares of the company's stock worth $13,236,000 after purchasing an additional 2,606,370 shares in the last quarter. MPM Bioimpact LLC increased its position in Trevi Therapeutics by 101.2% during the 4th quarter. MPM Bioimpact LLC now owns 3,094,896 shares of the company's stock worth $12,751,000 after purchasing an additional 1,556,379 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in Trevi Therapeutics during the 4th quarter worth about $10,300,000. Hedge funds and other institutional investors own 95.76% of the company's stock.

Insider Buying and Selling

In other Trevi Therapeutics news, insider Farrell Simon sold 81,313 shares of the company's stock in a transaction that occurred 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 transaction, the insider now directly owns 76,900 shares of the company's stock, valued at $519,075. This represents a 51.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jennifer L. Good sold 5,263 shares of the firm's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $6.58, for a total value of $34,630.54. Following the transaction, the chief executive officer now 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 currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on TRVI shares. Raymond James upgraded Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and lifted their price target for the company from $9.00 to $29.00 in a report on Monday, March 10th. Needham & Company LLC restated a "buy" rating and issued a $24.00 price target on shares of Trevi Therapeutics in a report on Tuesday, April 8th. B. Riley restated a "buy" rating and issued a $20.00 price target (up previously from $11.00) on shares of Trevi Therapeutics in a report on Wednesday, March 19th. D. Boral Capital reaffirmed a "buy" rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Finally, Oppenheimer lifted their price objective on Trevi Therapeutics from $12.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, March 11th. Seven equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $17.56.

Trevi Therapeutics Stock Performance

Trevi Therapeutics stock opened at $6.49 on Tuesday. The stock's 50 day moving average price is $6.29 and its 200 day moving average price is $4.68. The firm has a market capitalization of $648.31 million, a PE ratio of -14.75 and a beta of 0.62. Trevi Therapeutics, Inc. has a one year low of $2.30 and a one year high of $7.39.

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

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.

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