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

Woodline Partners LP increased its stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 429.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,212,597 shares of the company's stock after purchasing an additional 2,606,370 shares during the quarter. Woodline Partners LP owned 4.18% of Trevi Therapeutics worth $13,236,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in Trevi Therapeutics by 220.6% in the third quarter. JPMorgan Chase & Co. now owns 100,517 shares of the company's stock worth $336,000 after purchasing an additional 69,167 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Trevi Therapeutics by 14.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 173,063 shares of the company's stock worth $713,000 after purchasing an additional 22,145 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Trevi Therapeutics by 42.0% in the fourth quarter. Renaissance Technologies LLC now owns 100,400 shares of the company's stock worth $414,000 after purchasing an additional 29,700 shares during the last quarter. American Century Companies Inc. boosted its holdings in Trevi Therapeutics by 44.7% in the fourth quarter. American Century Companies Inc. now owns 78,143 shares of the company's stock worth $322,000 after purchasing an additional 24,153 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Trevi Therapeutics in the fourth quarter worth approximately $49,000. Hedge funds and other institutional investors own 95.76% of the company's stock.

Trevi Therapeutics Stock Performance

Shares of Trevi Therapeutics stock traded down $0.11 on Tuesday, hitting $6.19. 230,425 shares of the company's stock were exchanged, compared to its average volume of 1,201,024. The stock has a market capitalization of $617.84 million, a PE ratio of -14.05 and a beta of 0.62. Trevi Therapeutics, Inc. has a 1 year low of $2.30 and a 1 year high of $7.39. The company has a 50-day simple moving average of $6.26 and a 200-day simple moving average of $4.79.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TRVI shares. Raymond James upgraded shares of Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and raised their target price for the stock 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 target price on shares of Trevi Therapeutics in a report on Tuesday, May 20th. HC Wainwright reiterated a "buy" rating and set a $12.50 price target on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. B. Riley reiterated a "buy" rating and set a $20.00 price target (up previously from $11.00) on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Finally, Oppenheimer lifted their price target on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 11th. Seven investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Trevi Therapeutics currently has an average rating of "Buy" and a consensus price target of $17.56.

Insider Activity

In other news, insider Farrell Simon sold 81,313 shares of the firm's stock in a transaction on 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. This trade represents a 51.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $34,630.54. Following the sale, the chief executive officer now owns 213,313 shares in the company, valued at $1,403,599.54. The trade was a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.30% of the company's stock.

Trevi Therapeutics Company 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.