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

Woodline Partners LP increased its holdings in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 429.9% during the 4th quarter, HoldingsChannel reports. The fund owned 3,212,597 shares of the company’s stock after buying an additional 2,606,370 shares during the period. Woodline Partners LP’s holdings in Trevi Therapeutics were worth $13,236,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of TRVI. Summit Investment Advisors Inc. boosted its stake in 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 acquiring an additional 2,894 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Trevi Therapeutics during the fourth quarter worth about $49,000. Squarepoint Ops LLC bought a new stake in Trevi Therapeutics during the fourth quarter worth about $58,000. Two Sigma Advisers LP bought a new stake in Trevi Therapeutics during the fourth quarter worth about $66,000. Finally, China Universal Asset Management Co. Ltd. bought a new stake in Trevi Therapeutics during the fourth quarter worth about $67,000. Institutional investors own 95.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. D. Boral Capital reissued a “buy” rating and set a $21.00 price objective on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 target price on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Raymond James raised shares of Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $9.00 to $29.00 in a report on Monday, March 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $24.00 target price on shares of Trevi Therapeutics in a report on Tuesday. Finally, B. Riley reaffirmed a “buy” rating and issued a $20.00 target price (up from $11.00) on shares of Trevi Therapeutics in a report 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 stock. According to MarketBeat.com, Trevi Therapeutics currently has a consensus rating of “Buy” and an average price target of $17.56.

Insider Buying and Selling at Trevi Therapeutics

In other Trevi Therapeutics news, insider Farrell Simon sold 81,313 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 76,900 shares of the company’s stock, valued at approximately $519,075. This represents a 51.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jennifer L. Good sold 5,263 shares of the company’s stock in a transaction that occurred 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 directly owns 213,313 shares of the company’s stock, valued at approximately $1,403,599.54. This represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.30% of the stock is owned by corporate insiders.

Trevi Therapeutics Trading Down 4.5%

Shares of TRVI stock opened at $6.18 on Thursday. Trevi Therapeutics, Inc. has a 12 month low of $2.30 and a 12 month high of $7.39. The stock has a market cap of $617.34 million, a P/E ratio of -14.05 and a beta of 0.62. The company has a 50 day simple moving average of $6.28 and a two-hundred day simple moving average of $4.70.

Trevi Therapeutics (NASDAQ:TRVI) last announced its earnings results on Tuesday, May 6th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. As a group, equities analysts forecast that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current year.

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.