JPMorgan Chase & Co. Acquires 121,147 Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI)

JPMorgan Chase & Co. boosted its stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 120.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 221,664 shares of the company's stock after purchasing an additional 121,147 shares during the quarter. JPMorgan Chase & Co. owned about 0.29% of Trevi Therapeutics worth $913,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Rosalind Advisors Inc. increased its stake in shares of Trevi Therapeutics by 41.7% in the 4th quarter. Rosalind Advisors Inc. now owns 1,062,500 shares of the company's stock valued at $4,378,000 after acquiring an additional 312,500 shares during the last quarter. Geode Capital Management LLC grew its holdings in Trevi Therapeutics by 10.2% during the third quarter. Geode Capital Management LLC now owns 1,264,166 shares of the company's stock valued at $4,223,000 after purchasing an additional 117,418 shares during the period. Barclays PLC increased its stake in Trevi Therapeutics by 180.8% in the third quarter. Barclays PLC now owns 95,232 shares of the company's stock valued at $319,000 after purchasing an additional 61,317 shares in the last quarter. State Street Corp increased its stake in Trevi Therapeutics by 5.9% in the third quarter. State Street Corp now owns 952,912 shares of the company's stock valued at $3,183,000 after purchasing an additional 53,051 shares in the last quarter. Finally, American Century Companies Inc. raised 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 period. Institutional investors and hedge funds own 95.76% of the company's stock.

Trevi Therapeutics Price Performance

NASDAQ:TRVI traded up $0.09 during trading hours on Friday, reaching $6.99. 1,032,778 shares of the stock were exchanged, compared to its average volume of 1,151,557. The stock has a market cap of $675.81 million, a PE ratio of -15.89 and a beta of 0.41. Trevi Therapeutics, Inc. has a twelve month low of $2.30 and a twelve month high of $7.39. The firm has a 50 day moving average of $5.93 and a 200 day moving average of $4.41.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last released its earnings results on Tuesday, March 18th. The company reported ($0.11) earnings per share for the quarter, beating analysts' consensus estimates of ($0.12) by $0.01. Equities research analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on TRVI. Raymond James upgraded shares of Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and upped their price objective for the company from $9.00 to $29.00 in a research report on Monday, March 10th. D. Boral Capital restated a "buy" rating and issued a $21.00 price target on shares of Trevi Therapeutics in a report on Wednesday, March 19th. B. Riley reaffirmed a "buy" rating and set a $20.00 price target (up previously from $11.00) on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. 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. Finally, Needham & Company LLC restated a "buy" rating and set a $24.00 target price on shares of Trevi Therapeutics in a report on Tuesday, April 8th. Seven investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $17.56.

Insider Activity

In related news, 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 completion of the transaction, the chief executive officer now directly owns 213,313 shares of the company's stock, valued at approximately $1,403,599.54. This trade represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Farrell Simon sold 81,313 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $6.75, for a total transaction of $548,862.75. Following the transaction, the insider now owns 76,900 shares in the company, valued at approximately $519,075. The trade was a 51.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.37% 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.