Legal & General Group Plc Takes $1.48 Million Position in Trevi Therapeutics, Inc. $TRVI

Legal & General Group Plc acquired a new stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) during the second quarter, according to its most recent filing with the SEC. The fund acquired 79,220 shares of the company’s stock, valued at approximately $1,477,000.

Other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company bought a new position in Trevi Therapeutics in the 2nd quarter worth about $925,000. BlackRock Inc. bought a new stake in shares of Trevi Therapeutics during the second quarter valued at about $208,041,000. Deutsche Bank AG purchased a new stake in shares of Trevi Therapeutics in the second quarter worth about $2,135,000. Persistent Asset Partners Ltd purchased a new stake in shares of Trevi Therapeutics in the second quarter worth about $477,000. Finally, Flputnam Investment Management Co. bought a new position in shares of Trevi Therapeutics in the second quarter valued at approximately $19,360,000. Hedge funds and other institutional investors own 95.76% of the company’s stock.

Wall Street Analysts Forecast Growth

TRVI has been the topic of a number of analyst reports. Oppenheimer upped their target price on shares of Trevi Therapeutics from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. JonesTrading raised their price target on shares of Trevi Therapeutics from $24.00 to $28.00 and gave the company a “buy” rating in a report on Friday, August 14th. Wall Street Zen lowered 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 issued a $23.00 price objective on shares of Trevi Therapeutics in a research report on Wednesday, May 20th. Finally, B. Riley Financial lifted their price objective on Trevi Therapeutics from $21.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $27.08.

Trevi Therapeutics Price Performance

TRVI opened at $17.26 on Monday. The business’s fifty day simple moving average is $17.96 and its 200 day simple moving average is $15.01. Trevi Therapeutics, Inc. has a 52 week low of $6.93 and a 52 week high of $20.22. The stock has a market cap of $2.46 billion, a PE ratio of -50.76 and a beta of 1.04.

Trevi Therapeutics (NASDAQ:TRVI) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11). As a group, equities analysts anticipate that Trevi Therapeutics, Inc. will post -0.48 earnings per share for the current year.

About Trevi Therapeutics

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.