Wellington Management Group LLP Boosts Stake in Trevi Therapeutics, Inc. $TRVI

Key Points

• Wellington Management increased its Trevi Therapeutics stake by 9.5% in the second quarter, adding 495,504 shares to reach 5.68 million shares valued at approximately $106 million. Hedge funds and other institutional investors own 95.76% of the company.
• Trevi shares opened at $16.57, down 0.2%, with a market capitalization of $2.36 billion. The company reported quarterly EPS of -$0.11, in line with analyst expectations.
• Analysts maintain a broadly positive outlook, with a consensus “Buy” rating and an average price target of $27.08. Recent targets range from $23 to $40, including upgraded targets from JonesTrading and HC Wainwright.

Wellington Management Group LLP grew its holdings in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 9.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,684,592 shares of the company's stock after purchasing an additional 495,504 shares during the period. Wellington Management Group LLP owned approximately 3.99% of Trevi Therapeutics worth $106,018,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of TRVI. Russell Investments Group Ltd. increased its position in shares of Trevi Therapeutics by 194.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company's stock worth $25,000 after purchasing an additional 2,996 shares during the last quarter. KBC Group NV acquired a new position in Trevi Therapeutics in the first quarter valued at about $29,000. Hilton Head Capital Partners LLC purchased a new position in Trevi Therapeutics during the fourth quarter worth about $40,000. Caitong International Asset Management Co. Ltd purchased a new position in Trevi Therapeutics during the fourth quarter worth about $50,000. Finally, Strs Ohio acquired a new stake in shares of Trevi Therapeutics during the first quarter valued at about $52,000. 95.76% of the stock is currently owned by hedge funds and other institutional investors.

Trevi Therapeutics Trading Down 0.2%

Shares of TRVI opened at $16.57 on Wednesday. Trevi Therapeutics, Inc. has a twelve month low of $6.93 and a twelve month high of $20.22. The firm's fifty day simple moving average is $18.01 and its 200-day simple moving average is $14.87. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of -48.74 and a beta of 1.04.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.11) EPS for the quarter, hitting analysts' consensus estimates of ($0.11). On average, analysts predict that Trevi Therapeutics, Inc. will post -0.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on TRVI. JonesTrading increased their price objective on shares of Trevi Therapeutics from $24.00 to $28.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $40.00 price objective on shares of Trevi Therapeutics in a research note on Friday, August 7th. HC Wainwright boosted their price objective on Trevi Therapeutics from $21.00 to $24.00 and gave the company a "buy" rating in a report on Monday, July 20th. Morgan Stanley restated an "overweight" rating and set a $23.00 target price on shares of Trevi Therapeutics in a report on Friday, August 7th. Finally, BMO Capital Markets initiated coverage on Trevi Therapeutics in a research report on Monday, July 20th. They issued an "outperform" rating and a $36.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Trevi Therapeutics has an average rating of "Buy" and a consensus price target of $27.08.

About Trevi Therapeutics

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel non-opioid therapies for the management of chronic and acute pain. The company leverages proprietary drug delivery platforms and targeted molecular approaches to address high unmet needs in cancer-related pain, chemotherapy-induced neuropathy and other severe pain conditions.

Its lead product candidate is a proprietary formulation of tetrodotoxin (TTX), a sodium-channel blocking agent being evaluated in early-stage clinical trials for moderate-to-severe pain associated with advanced cancer and peripheral neuropathy.

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