11,155,026 Shares in Trevi Therapeutics, Inc. $TRVI Purchased by BlackRock Inc.

BlackRock Inc. purchased a new position in Trevi Therapeutics, Inc. (NASDAQ:TRVI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 11,155,026 shares of the company’s stock, valued at approximately $208,041,000. BlackRock Inc. owned about 0.08% of Trevi Therapeutics at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rubric Capital Management LP increased its stake in shares of Trevi Therapeutics by 88.0% during the 2nd quarter. Rubric Capital Management LP now owns 8,531,860 shares of the company’s stock valued at $46,669,000 after acquiring an additional 3,993,325 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Trevi Therapeutics by 10.4% in the 4th quarter. Vanguard Group Inc. now owns 6,434,655 shares of the company’s stock worth $80,562,000 after purchasing an additional 607,669 shares during the period. Viking Global Investors LP raised its holdings in shares of Trevi Therapeutics by 232.4% in the 3rd quarter. Viking Global Investors LP now owns 5,128,875 shares of the company’s stock worth $46,929,000 after purchasing an additional 3,585,875 shares during the period. Vivo Capital LLC lifted its stake in shares of Trevi Therapeutics by 13.5% in the 3rd quarter. Vivo Capital LLC now owns 5,094,668 shares of the company’s stock valued at $46,616,000 after purchasing an additional 606,765 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Trevi Therapeutics by 95.4% in the 3rd quarter. Marshall Wace LLP now owns 4,841,751 shares of the company’s stock valued at $44,302,000 after purchasing an additional 2,363,835 shares in the last quarter. Hedge funds and other institutional investors own 95.76% of the company’s stock.

Trevi Therapeutics Stock Performance

Shares of NASDAQ:TRVI opened at $17.96 on Friday. The company has a market cap of $2.56 billion, a P/E ratio of -52.82 and a beta of 1.03. Trevi Therapeutics, Inc. has a one year low of $6.93 and a one year high of $20.22. The business’s 50-day simple moving average is $18.05 and its 200 day simple moving average is $14.76.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). Analysts predict that Trevi Therapeutics, Inc. will post -0.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TRVI. Weiss Ratings reissued a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Friday, July 17th. Wall Street Zen cut shares of Trevi Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price objective on shares of Trevi Therapeutics in a research note on Wednesday, May 20th. JonesTrading increased their price objective on shares of Trevi Therapeutics from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Finally, Cantor Fitzgerald raised their target price on shares of Trevi Therapeutics from $25.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $27.08.

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.