MAI Capital Management Cuts Stock Holdings in Trevi Therapeutics, Inc. $TRVI

MAI Capital Management lowered its stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 88.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,492 shares of the company’s stock after selling 749,061 shares during the quarter. MAI Capital Management owned 0.08% of Trevi Therapeutics worth $901,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of TRVI. Ameritas Investment Partners Inc. boosted its holdings in Trevi Therapeutics by 20.5% during the 3rd quarter. Ameritas Investment Partners Inc. now owns 7,632 shares of the company’s stock worth $70,000 after acquiring an additional 1,300 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Trevi Therapeutics by 4.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 21,346 shares of the company’s stock worth $195,000 after purchasing an additional 911 shares during the last quarter. BIT Capital GmbH grew its position in Trevi Therapeutics by 32.0% in the 3rd quarter. BIT Capital GmbH now owns 6,739 shares of the company’s stock worth $62,000 after purchasing an additional 1,633 shares in the last quarter. Readystate Asset Management LP bought a new stake in Trevi Therapeutics in the 3rd quarter worth about $315,000. Finally, GSA Capital Partners LLP purchased a new stake in Trevi Therapeutics in the 3rd quarter valued at about $398,000. 95.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TRVI shares. Stifel Nicolaus boosted their target price on Trevi Therapeutics from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Oppenheimer lifted their price target on Trevi Therapeutics from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, November 14th. B. Riley Financial upgraded Trevi Therapeutics to a “strong-buy” rating in a research note on Monday, November 17th. Morgan Stanley raised their target price on Trevi Therapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. Finally, Leerink Partners lifted their target price on Trevi Therapeutics from $13.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Trevi Therapeutics presently has an average rating of “Buy” and an average price target of $21.10.

Trevi Therapeutics Trading Up 3.5%

Shares of NASDAQ TRVI opened at $11.92 on Monday. The stock has a fifty day simple moving average of $11.27 and a two-hundred day simple moving average of $10.55. Trevi Therapeutics, Inc. has a 1-year low of $4.17 and a 1-year high of $14.39. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -32.22 and a beta of 0.94.

Trevi Therapeutics Profile

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel non-opioid therapies for the management of chronic and acute pain. The company leverages proprietary drug delivery platforms and targeted molecular approaches to address high unmet needs in cancer-related pain, chemotherapy-induced neuropathy and other severe pain conditions.

Its lead product candidate is a proprietary formulation of tetrodotoxin (TTX), a sodium-channel blocking agent being evaluated in early-stage clinical trials for moderate-to-severe pain associated with advanced cancer and peripheral neuropathy.