Pictet Asset Management Holding SA Grows Stock Holdings in Trevi Therapeutics, Inc. $TRVI

Pictet Asset Management Holding SA lifted its holdings in Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 11.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,706,048 shares of the company’s stock after acquiring an additional 174,035 shares during the period. Pictet Asset Management Holding SA owned approximately 1.33% of Trevi Therapeutics worth $20,353,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Hilton Head Capital Partners LLC boosted its position in Trevi Therapeutics by 32.6% during the 1st quarter. Hilton Head Capital Partners LLC now owns 4,250 shares of the company’s stock worth $51,000 after purchasing an additional 1,044 shares during the period. Ameritas Investment Partners Inc. raised its position in Trevi Therapeutics by 20.5% in the third quarter. Ameritas Investment Partners Inc. now owns 7,632 shares of the company’s stock valued at $70,000 after purchasing an additional 1,300 shares during the period. Kennedy Capital Management LLC lifted its stake in shares of Trevi Therapeutics by 2.4% during the fourth quarter. Kennedy Capital Management LLC now owns 56,269 shares of the company’s stock worth $704,000 after purchasing an additional 1,336 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Trevi Therapeutics by 32.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,231 shares of the company’s stock worth $78,000 after purchasing an additional 1,523 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in shares of Trevi Therapeutics by 2.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 100,698 shares of the company’s stock worth $1,261,000 after buying an additional 2,030 shares during the period. Hedge funds and other institutional investors own 95.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TRVI. D. Boral Capital reiterated a “buy” rating and set a $19.00 target price on shares of Trevi Therapeutics in a report on Friday, April 17th. Morgan Stanley reaffirmed an “overweight” rating and issued a $20.00 price objective on shares of Trevi Therapeutics in a research report on Wednesday, May 6th. JonesTrading dropped their price objective on shares of Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, March 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Monday, April 20th. Finally, HC Wainwright restated a “buy” rating and issued a $21.00 target price on shares of Trevi Therapeutics in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $22.67.

Trevi Therapeutics Stock Performance

Shares of TRVI opened at $17.61 on Thursday. Trevi Therapeutics, Inc. has a one year low of $5.53 and a one year high of $19.26. The stock has a 50-day moving average price of $14.93 and a 200 day moving average price of $12.87. The company has a market capitalization of $2.50 billion, a P/E ratio of -55.03 and a beta of 0.99.

Trevi Therapeutics (NASDAQ:TRVI) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02). As a group, equities research analysts forecast that Trevi Therapeutics, Inc. will post -0.47 earnings per share for the current fiscal year.

Trevi Therapeutics 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.