Trevi Therapeutics, Inc. $TRVI Stock: Profund Advisors LLC Raises Stake

Profund Advisors LLC increased its stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 347.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,425 shares of the company’s stock after buying an additional 73,319 shares during the period. Profund Advisors LLC owned 0.07% of Trevi Therapeutics worth $1,352,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of TRVI. KBC Group NV acquired a new position in shares of Trevi Therapeutics during the 1st quarter valued at $29,000. Sterling Capital Management LLC boosted its stake in shares of Trevi Therapeutics by 848.7% in the 3rd quarter. Sterling Capital Management LLC now owns 3,567 shares of the company’s stock worth $51,000 after buying an additional 3,191 shares during the last quarter. Avidity Partners Management LP bought a new stake in shares of Trevi Therapeutics in the first quarter worth $79,000. Amundi bought a new stake in shares of Trevi Therapeutics in the second quarter worth $192,000. Finally, Hsbc Holdings PLC purchased a new stake in Trevi Therapeutics during the second quarter valued at $199,000. 95.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TRVI. Wall Street Zen lowered shares of Trevi Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Trevi Therapeutics in a research note on Thursday, October 15th. Cantor Fitzgerald lifted their price target on Trevi Therapeutics from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Morgan Stanley reissued an “overweight” rating and issued a $23.00 price objective on shares of Trevi Therapeutics in a research note on Friday, August 7th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Trevi Therapeutics in a report on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Trevi Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $27.08.

Trevi Therapeutics Trading Up 0.5%

NASDAQ TRVI opened at $13.63 on Tuesday. The company has a market cap of $1.94 billion, a P/E ratio of -40.09 and a beta of 0.98. Trevi Therapeutics, Inc. has a 12-month low of $9.82 and a 12-month high of $20.22. The company has a fifty day simple moving average of $14.61 and a 200 day simple moving average of $14.33.

Trevi Therapeutics (NASDAQ:TRVI) last posted its earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). Sell-side analysts predict that Trevi Therapeutics, Inc. will post -0.48 EPS for the current year.

Insider Buying and Selling at Trevi Therapeutics

In related news, Director Michael Heffernan sold 39,473 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $15.09, for a total transaction of $595,647.57. Following the completion of the transaction, the director directly owned 6,351 shares of the company’s stock, valued at approximately $95,836.59. This trade represents a 86.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 15.39% of the company’s stock.

Trevi Therapeutics Company Profile

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for chronic conditions that have limited therapeutic options. The company’s lead product candidate is Haduvio, an oral extended-release formulation of nalbuphine, an opioid receptor modulator designed to combine kappa-opioid receptor agonism with mu-opioid receptor antagonism.

Trevi is evaluating Haduvio in conditions involving chronic cough and severe itching. Its clinical development programs have included studies in chronic cough associated with idiopathic pulmonary fibrosis, a progressive lung disease, and chronic pruritus associated with systemic sclerosis, an autoimmune connective-tissue disorder.