Two Sigma Investments LP Purchases New Shares in Trevi Therapeutics, Inc. (NASDAQ:TRVI)

Two Sigma Investments LP bought a new stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 135,807 shares of the company’s stock, valued at approximately $560,000. Two Sigma Investments LP owned about 0.18% of Trevi Therapeutics at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Summit Investment Advisors Inc. increased its position in shares of Trevi Therapeutics by 84.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company’s stock valued at $26,000 after purchasing an additional 2,894 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Trevi Therapeutics during the 4th quarter valued at $49,000. Cantor Fitzgerald L. P. purchased a new stake in shares of Trevi Therapeutics during the 4th quarter valued at $82,000. ProShare Advisors LLC increased its position in shares of Trevi Therapeutics by 86.4% during the 4th quarter. ProShare Advisors LLC now owns 20,685 shares of the company’s stock valued at $85,000 after purchasing an additional 9,589 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of Trevi Therapeutics during the 4th quarter valued at $89,000. 95.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TRVI has been the subject of several research analyst reports. B. Riley reaffirmed a “buy” rating and set a $20.00 target price (up from $11.00) on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Wall Street Zen downgraded Trevi Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday. Raymond James upgraded Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $9.00 to $29.00 in a research note on Monday, March 10th. D. Boral Capital reiterated a “buy” rating and set a $21.00 price target on shares of Trevi Therapeutics in a research note on Monday, June 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $24.00 price target on shares of Trevi Therapeutics in a research note on Tuesday, May 20th. One analyst has rated the stock with a sell rating, seven have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Trevi Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $18.63.

Trevi Therapeutics Stock Up 4.7%

Shares of NASDAQ TRVI opened at $7.06 on Monday. Trevi Therapeutics, Inc. has a 52 week low of $2.30 and a 52 week high of $7.48. The business has a 50-day simple moving average of $6.26 and a two-hundred day simple moving average of $5.02. The company has a market cap of $705.24 million, a P/E ratio of -16.05 and a beta of 0.59.

Trevi Therapeutics (NASDAQ:TRVI) last issued its earnings results on Tuesday, May 6th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.04. Equities research analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 EPS for the current year.

Insiders Place Their Bets

In other Trevi Therapeutics news, CEO Jennifer L. Good sold 5,263 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $6.58, for a total value of $34,630.54. Following the completion of the transaction, the chief executive officer now owns 213,313 shares in the company, valued at $1,403,599.54. This trade represents a 2.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 18.30% of the stock is owned by corporate insiders.

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.