Vivo Capital LLC Increases Position in Trevi Therapeutics, Inc. (NASDAQ:TRVI)

Vivo Capital LLC grew its position in Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 116.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,487,903 shares of the company’s stock after purchasing an additional 1,875,000 shares during the quarter. Trevi Therapeutics makes up 1.6% of Vivo Capital LLC’s investment portfolio, making the stock its 12th largest position. Vivo Capital LLC’s holdings in Trevi Therapeutics were worth $14,370,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Summit Investment Advisors Inc. raised its holdings in Trevi Therapeutics by 84.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company’s stock worth $26,000 after purchasing an additional 2,894 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Trevi Therapeutics in the fourth quarter valued at $49,000. China Universal Asset Management Co. Ltd. acquired a new position in Trevi Therapeutics in the fourth quarter valued at $67,000. Jump Financial LLC purchased a new position in shares of Trevi Therapeutics during the fourth quarter worth about $89,000. Finally, Invesco Ltd. increased its position in shares of Trevi Therapeutics by 21.2% during the fourth quarter. Invesco Ltd. now owns 23,621 shares of the company’s stock worth $97,000 after purchasing an additional 4,133 shares in the last quarter. 95.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Trevi Therapeutics

In other news, insider Farrell Simon sold 81,313 shares of the stock in a transaction dated Monday, March 10th. The shares were 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 in the company, valued at $519,075. This trade represents a 51.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 completion of the sale, the chief executive officer now owns 213,313 shares of the company’s stock, valued at $1,403,599.54. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 24.37% of the company’s stock.

Trevi Therapeutics Stock Down 0.5 %

Shares of Trevi Therapeutics stock opened at $6.07 on Monday. The firm has a market cap of $586.86 million, a price-to-earnings ratio of -13.80 and a beta of 0.41. Trevi Therapeutics, Inc. has a 52-week low of $2.30 and a 52-week high of $7.39. The company’s 50-day simple moving average is $5.50 and its 200-day simple moving average is $4.18.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings data on Tuesday, March 18th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. Equities research analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on TRVI. B. Riley restated a “buy” rating and set a $20.00 price target (up previously from $11.00) on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $24.00 target price on shares of Trevi Therapeutics in a report on Tuesday, April 8th. HC Wainwright reiterated a “buy” rating and set a $12.50 price target on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. D. Boral Capital restated a “buy” rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Finally, Raymond James upgraded shares of 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 note on Monday, March 10th. Seven 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 currently has an average rating of “Buy” and a consensus price target of $17.56.

Trevi Therapeutics 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.