Siren L.L.C. Cuts Holdings in Trevi Therapeutics, Inc. $TRVI

Siren L.L.C. trimmed its position in Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 21.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,786,867 shares of the company’s stock after selling 500,000 shares during the quarter. Siren L.L.C. owned about 1.26% of Trevi Therapeutics worth $21,317,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TRVI. AQR Capital Management LLC boosted its stake in Trevi Therapeutics by 20.4% during the first quarter. AQR Capital Management LLC now owns 27,720 shares of the company’s stock valued at $174,000 after buying an additional 4,688 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Trevi Therapeutics by 31.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,143 shares of the company’s stock worth $278,000 after acquiring an additional 10,445 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Trevi Therapeutics by 356.3% during the 1st quarter. Millennium Management LLC now owns 823,249 shares of the company’s stock worth $5,178,000 after acquiring an additional 642,830 shares in the last quarter. Strs Ohio purchased a new stake in shares of Trevi Therapeutics during the 1st quarter worth approximately $52,000. Finally, Creative Planning boosted its position in shares of Trevi Therapeutics by 17.5% during the 2nd quarter. Creative Planning now owns 20,247 shares of the company’s stock valued at $111,000 after acquiring an additional 3,016 shares during the last quarter. 95.76% of the stock is currently owned by hedge funds and other institutional investors.

Trevi Therapeutics Stock Performance

NASDAQ:TRVI opened at $17.18 on Friday. The stock’s fifty day moving average is $16.04 and its 200 day moving average is $13.47. Trevi Therapeutics, Inc. has a fifty-two week low of $6.55 and a fifty-two week high of $20.22. The firm has a market capitalization of $2.44 billion, a PE ratio of -53.69 and a beta of 1.00.

Trevi Therapeutics (NASDAQ:TRVI) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). Equities analysts forecast that Trevi Therapeutics, Inc. will post -0.47 EPS for the current year.

Wall Street Analysts Forecast Growth

TRVI has been the topic of several research reports. HC Wainwright boosted their price target on shares of Trevi Therapeutics from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday. B. Riley Financial increased their price objective on shares of Trevi Therapeutics from $21.00 to $31.00 and gave the company a “buy” rating in a research report on Monday. Morgan Stanley restated an “overweight” rating and issued a $20.00 target price on shares of Trevi Therapeutics in a report on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Friday, July 17th. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $19.00 price target on shares of Trevi Therapeutics in a report on Friday, April 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $24.91.

Trevi Therapeutics Company 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.