Trevi Therapeutics, Inc. (NASDAQ:TRVI) Shares Purchased by MPM Bioimpact LLC

MPM Bioimpact LLC lifted its holdings in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 101.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,094,896 shares of the company's stock after acquiring an additional 1,556,379 shares during the period. Trevi Therapeutics accounts for about 1.8% of MPM Bioimpact LLC's holdings, making the stock its 25th biggest position. MPM Bioimpact LLC owned approximately 4.03% of Trevi Therapeutics worth $12,751,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Summit Investment Advisors Inc. lifted its holdings in shares of Trevi Therapeutics by 84.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company's stock worth $26,000 after purchasing an additional 2,894 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Trevi Therapeutics by 2.1% during the fourth quarter. Bank of New York Mellon Corp now owns 140,219 shares of the company's stock worth $578,000 after purchasing an additional 2,935 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Trevi Therapeutics by 14.5% during the fourth quarter. SG Americas Securities LLC now owns 26,792 shares of the company's stock worth $110,000 after purchasing an additional 3,387 shares during the period. Invesco Ltd. lifted its holdings in shares of Trevi Therapeutics by 21.2% during the fourth quarter. Invesco Ltd. now owns 23,621 shares of the company's stock worth $97,000 after purchasing an additional 4,133 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Trevi Therapeutics by 32.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,166 shares of the company's stock worth $104,000 after purchasing an additional 6,119 shares during the period. 95.76% of the stock is owned by institutional investors and hedge funds.

Trevi Therapeutics Trading Up 5.0%

TRVI traded up $0.31 during midday trading on Friday, hitting $6.50. The company's stock had a trading volume of 1,652,371 shares, compared to its average volume of 1,185,103. The firm has a market cap of $649.30 million, a P/E ratio of -14.77 and a beta of 0.62. The firm has a 50-day moving average price of $6.29 and a two-hundred day moving average price of $4.63. 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 posted its quarterly earnings results 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, equities analysts expect that Trevi Therapeutics, Inc. will post -0.49 EPS for the current year.

Insider Buying and Selling at Trevi Therapeutics

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

Analyst Upgrades and Downgrades

TRVI has been the subject of a number of recent analyst reports. D. Boral Capital reissued a "buy" rating and issued a $21.00 target price on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Raymond James raised Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and raised their target price for the company from $9.00 to $29.00 in a report on Monday, March 10th. Needham & Company LLC reaffirmed a "buy" rating and set a $24.00 price target on shares of Trevi Therapeutics in a research note on Tuesday, April 8th. Oppenheimer lifted their price target on Trevi Therapeutics from $12.00 to $20.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 11th. Finally, 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 note on Wednesday, March 19th. Seven investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Trevi Therapeutics presently has a consensus rating of "Buy" and an average price target of $17.56.

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.