Point72 Asset Management L.P. Takes Position in Trevi Therapeutics, Inc. (NASDAQ:TRVI)

Point72 Asset Management L.P. bought a new stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,150,237 shares of the company’s stock, valued at approximately $17,099,000. Point72 Asset Management L.P. owned approximately 5.40% of Trevi Therapeutics as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TRVI. Vivo Capital LLC raised its holdings in Trevi Therapeutics by 116.3% in the 4th quarter. Vivo Capital LLC now owns 3,487,903 shares of the company’s stock worth $14,370,000 after purchasing an additional 1,875,000 shares in the last quarter. MPM Bioimpact LLC increased its position in shares of Trevi Therapeutics by 101.2% during the fourth quarter. MPM Bioimpact LLC now owns 3,094,896 shares of the company’s stock valued at $12,751,000 after buying an additional 1,556,379 shares during the period. Adage Capital Partners GP L.L.C. bought a new position in Trevi Therapeutics in the fourth quarter worth about $10,300,000. Acorn Capital Advisors LLC purchased a new stake in Trevi Therapeutics in the fourth quarter worth about $8,244,000. Finally, Geode Capital Management LLC boosted its position in Trevi Therapeutics by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 1,299,322 shares of the company’s stock valued at $5,354,000 after acquiring an additional 35,156 shares in the last quarter. Hedge funds and other institutional investors own 95.76% of the company’s stock.

Trevi Therapeutics Price Performance

Shares of Trevi Therapeutics stock opened at $6.50 on Friday. Trevi Therapeutics, Inc. has a 1 year low of $2.30 and a 1 year high of $7.39. The firm’s 50-day moving average is $6.29 and its 200 day moving average is $4.64. The stock has a market cap of $649.30 million, a price-to-earnings ratio of -14.77 and a beta of 0.62.

Trevi Therapeutics (NASDAQ:TRVI) last issued its earnings results on Tuesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping 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 fiscal year.

Insider Activity at Trevi Therapeutics

In other Trevi Therapeutics 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 value of $548,862.75. Following the completion of the transaction, the insider now owns 76,900 shares of the company’s stock, valued at approximately $519,075. The trade was a 51.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jennifer L. Good sold 5,263 shares of the firm’s 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 directly owns 213,313 shares in the company, valued at approximately $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 currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TRVI. Raymond James raised Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $9.00 to $29.00 in a research report on Monday, March 10th. B. Riley reiterated a “buy” rating and issued a $20.00 price objective (up previously from $11.00) on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Needham & Company LLC reissued a “buy” rating and set a $24.00 price objective on shares of Trevi Therapeutics in a research report on Tuesday, April 8th. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 target price on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Finally, D. Boral Capital reissued a “buy” rating and set a $21.00 price target on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Seven research 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.com, the stock has a consensus rating of “Buy” and a consensus target price of $17.56.

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.