ProShare Advisors LLC Buys 9,589 Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI)

ProShare Advisors LLC raised its stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 86.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,685 shares of the company’s stock after purchasing an additional 9,589 shares during the period. ProShare Advisors LLC’s holdings in Trevi Therapeutics were worth $85,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of TRVI. Charles Schwab Investment Management Inc. lifted its holdings in shares of Trevi Therapeutics by 14.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 173,063 shares of the company’s stock worth $713,000 after acquiring an additional 22,145 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Trevi Therapeutics by 42.0% during the 4th quarter. Renaissance Technologies LLC now owns 100,400 shares of the company’s stock worth $414,000 after acquiring an additional 29,700 shares during the period. American Century Companies Inc. lifted its holdings in shares of Trevi Therapeutics by 44.7% during the 4th quarter. American Century Companies Inc. now owns 78,143 shares of the company’s stock worth $322,000 after acquiring an additional 24,153 shares during the period. Northern Trust Corp lifted its holdings in shares of Trevi Therapeutics by 11.3% during the 4th quarter. Northern Trust Corp now owns 482,815 shares of the company’s stock worth $1,989,000 after acquiring an additional 49,173 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Trevi Therapeutics by 120.5% during the 4th quarter. JPMorgan Chase & Co. now owns 221,664 shares of the company’s stock worth $913,000 after acquiring an additional 121,147 shares during the period. 95.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TRVI has been the subject of several analyst reports. Raymond James raised shares of Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $9.00 to $29.00 in a report on Monday, March 10th. HC Wainwright initiated coverage on shares of Trevi Therapeutics in a report on Wednesday, May 28th. They set a “buy” rating and a $21.00 price target for the company. D. Boral Capital reissued a “buy” rating and set a $21.00 price target on shares of Trevi Therapeutics in a report on Monday. Oppenheimer lifted their price target on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. Finally, B. Riley reissued a “buy” rating and set a $20.00 price target (up from $11.00) on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Seven investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Trevi Therapeutics presently has an average rating of “Buy” and a consensus price target of $18.63.

Trevi Therapeutics Stock Performance

NASDAQ:TRVI opened at $5.95 on Wednesday. The company has a market cap of $594.36 million, a PE ratio of -13.52 and a beta of 0.62. Trevi Therapeutics, Inc. has a 52-week low of $2.30 and a 52-week high of $7.48. The stock has a 50-day simple moving average of $6.23 and a 200 day simple moving average of $4.92.

Trevi Therapeutics (NASDAQ:TRVI) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.04. On average, research analysts predict that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Farrell Simon sold 81,313 shares of Trevi Therapeutics stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $6.75, for a total transaction of $548,862.75. Following the completion of the sale, the insider now owns 76,900 shares of the company’s stock, valued at approximately $519,075. The trade was a 51.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jennifer L. Good sold 5,263 shares of Trevi Therapeutics stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $6.58, for a total transaction of $34,630.54. Following the sale, the chief executive officer now directly owns 213,313 shares of the company’s stock, valued at $1,403,599.54. The trade was a 2.41% decrease in their position. The disclosure for this sale can be found here. Insiders own 18.30% of the company’s stock.

About Trevi Therapeutics

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.