Jupiter Topco LLC Buys Shares of 1,190,973 Trevi Therapeutics, Inc. $TRVI

Jupiter Topco LLC purchased a new position in Trevi Therapeutics, Inc. (NASDAQ:TRVI) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,190,973 shares of the company’s stock, valued at approximately $22,188,000.

Several other institutional investors and hedge funds have also modified their holdings of TRVI. Russell Investments Group Ltd. grew its position in shares of Trevi Therapeutics by 194.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock valued at $25,000 after acquiring an additional 2,996 shares during the period. KBC Group NV bought a new position in Trevi Therapeutics in the 1st quarter worth $29,000. Hilton Head Capital Partners LLC bought a new position in Trevi Therapeutics in the 4th quarter worth $40,000. Caitong International Asset Management Co. Ltd bought a new position in Trevi Therapeutics in the 4th quarter worth $50,000. Finally, Strs Ohio purchased a new position in Trevi Therapeutics during the first quarter valued at $52,000. Hedge funds and other institutional investors own 95.76% of the company’s stock.

Trevi Therapeutics Stock Performance

Shares of Trevi Therapeutics stock opened at $16.79 on Friday. Trevi Therapeutics, Inc. has a fifty-two week low of $6.93 and a fifty-two week high of $20.22. The company has a market capitalization of $2.39 billion, a P/E ratio of -49.38 and a beta of 1.03. The company has a fifty day moving average of $18.05 and a 200 day moving average of $14.77.

Trevi Therapeutics (NASDAQ:TRVI) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). Analysts forecast that Trevi Therapeutics, Inc. will post -0.48 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. JonesTrading boosted their price target on Trevi Therapeutics from $24.00 to $28.00 and gave the company a “buy” rating in a report on Friday, August 14th. Morgan Stanley reaffirmed an “overweight” rating and issued a $23.00 price objective on shares of Trevi Therapeutics in a research note on Friday, August 7th. Stifel Nicolaus set a $30.00 price objective on Trevi Therapeutics in a research report on Friday, May 8th. Wall Street Zen downgraded Trevi Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Finally, HC Wainwright increased their target price on shares of Trevi Therapeutics from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target 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.