Peregrine Capital Management LLC Invests $5.68 Million in Trevi Therapeutics, Inc. $TRVI

Peregrine Capital Management LLC acquired a new stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 620,464 shares of the company’s stock, valued at approximately $5,677,000. Peregrine Capital Management LLC owned approximately 0.51% of Trevi Therapeutics at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in Trevi Therapeutics during the 3rd quarter valued at $591,000. KLP Kapitalforvaltning AS acquired a new position in shares of Trevi Therapeutics during the third quarter worth $159,000. Flputnam Investment Management Co. increased its position in shares of Trevi Therapeutics by 1,105.4% during the third quarter. Flputnam Investment Management Co. now owns 1,048,102 shares of the company’s stock worth $9,590,000 after purchasing an additional 961,150 shares in the last quarter. Harbour Capital Advisors LLC purchased a new stake in shares of Trevi Therapeutics during the 3rd quarter valued at $263,000. Finally, Chapin Davis Inc. acquired a new stake in shares of Trevi Therapeutics in the 3rd quarter worth $321,000. 95.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TRVI has been the subject of a number of research analyst reports. Morgan Stanley increased their price target on Trevi Therapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. D. Boral Capital reiterated a “buy” rating and issued a $19.00 target price on shares of Trevi Therapeutics in a research note on Thursday. Weiss Ratings reissued a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Wednesday, October 8th. Oppenheimer raised their price target on shares of Trevi Therapeutics from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, November 14th. Finally, HC Wainwright reissued a “buy” rating and issued a $21.00 target price on shares of Trevi Therapeutics in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Trevi Therapeutics currently has an average rating of “Buy” and an average price target of $21.10.

Trevi Therapeutics Trading Down 0.3%

TRVI stock opened at $11.18 on Friday. The business’s 50-day moving average is $12.19 and its 200 day moving average is $9.50. Trevi Therapeutics, Inc. has a 12-month low of $3.47 and a 12-month high of $14.39. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -30.22 and a beta of 0.91.

Trevi Therapeutics (NASDAQ:TRVI) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.02. As a group, equities analysts forecast that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal 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.