Woodline Partners LP Buys 2,606,370 Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI)

Woodline Partners LP grew its stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 429.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,212,597 shares of the company's stock after acquiring an additional 2,606,370 shares during the period. Woodline Partners LP owned about 4.18% of Trevi Therapeutics worth $13,236,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Summit Investment Advisors Inc. grew its position in shares of Trevi Therapeutics by 84.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company's stock valued at $26,000 after acquiring an additional 2,894 shares during the period. Raymond James Financial Inc. bought a new position in Trevi Therapeutics in the 4th quarter worth approximately $49,000. Squarepoint Ops LLC bought a new position in Trevi Therapeutics in the 4th quarter worth approximately $58,000. Two Sigma Advisers LP bought a new position in Trevi Therapeutics in the 4th quarter worth approximately $66,000. Finally, China Universal Asset Management Co. Ltd. bought a new position in Trevi Therapeutics in the 4th quarter worth approximately $67,000. 95.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TRVI has been the subject of several analyst reports. Oppenheimer raised their price objective on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the stock an "outperform" rating in a report on Tuesday, March 11th. Raymond James raised shares of Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and raised their price target for the company from $9.00 to $29.00 in a report on Monday, March 10th. D. Boral Capital reissued a "buy" rating and issued a $21.00 price target on shares of Trevi Therapeutics in a report on Wednesday, March 19th. B. Riley reissued a "buy" rating and issued a $20.00 price target (up from $11.00) on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Finally, HC Wainwright reissued a "buy" rating and issued a $12.50 price target on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Seven research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Trevi Therapeutics presently has an average rating of "Buy" and a consensus price target of $17.56.

Trevi Therapeutics Stock Down 4.5%

Shares of NASDAQ:TRVI opened at $6.18 on Thursday. The stock has a market cap of $617.34 million, a PE ratio of -14.05 and a beta of 0.62. The company's fifty day moving average is $6.28 and its 200 day moving average is $4.70. Trevi Therapeutics, Inc. has a 52 week low of $2.30 and a 52 week high of $7.39.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.04. Sell-side analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 EPS for the current year.

Insider Buying and Selling at Trevi Therapeutics

In other news, CEO Jennifer L. Good sold 5,263 shares of Trevi Therapeutics stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $6.58, for a total transaction of $34,630.54. Following the sale, the chief executive officer now owns 213,313 shares of the company's stock, valued at approximately $1,403,599.54. The trade was a 2.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Farrell Simon sold 81,313 shares of Trevi Therapeutics stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $6.75, for a total transaction of $548,862.75. Following the sale, the insider now directly owns 76,900 shares in the company, valued at $519,075. The trade was a 51.39% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.30% of the company's stock.

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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