Squarepoint Ops LLC Acquires Shares of 14,059 Trevi Therapeutics, Inc. (NASDAQ:TRVI)

Squarepoint Ops LLC acquired a new stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 14,059 shares of the company’s stock, valued at approximately $58,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Summit Investment Advisors Inc. lifted its holdings in shares of Trevi Therapeutics by 84.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company’s stock valued at $26,000 after acquiring an additional 2,894 shares during the period. Raymond James Financial Inc. bought a new position in shares of Trevi Therapeutics during the fourth quarter valued at $49,000. Two Sigma Advisers LP bought a new position in shares of Trevi Therapeutics during the fourth quarter valued at $66,000. Cantor Fitzgerald L. P. bought a new position in shares of Trevi Therapeutics during the fourth quarter valued at $82,000. Finally, ProShare Advisors LLC lifted its holdings in shares of Trevi Therapeutics by 86.4% during the fourth quarter. ProShare Advisors LLC now owns 20,685 shares of the company’s stock valued at $85,000 after acquiring an additional 9,589 shares during the period. 95.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on TRVI. Raymond James raised Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $9.00 to $29.00 in a report on Monday, March 10th. Wall Street Zen lowered Trevi Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, June 6th. HC Wainwright began coverage on Trevi Therapeutics in a research note on Wednesday, May 28th. They issued a “buy” rating and a $21.00 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $24.00 target price on shares of Trevi Therapeutics in a research note on Tuesday, May 20th. Finally, B. Riley restated a “buy” rating and issued a $20.00 target price (up from $11.00) on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $18.63.

Insider Buying and Selling

In other news, CEO Jennifer L. Good sold 5,263 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 213,313 shares in the company, valued at approximately $1,403,599.54. The trade was a 2.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 18.30% of the company’s stock.

Trevi Therapeutics Stock Up 1.6%

Shares of TRVI stock opened at $6.51 on Wednesday. The stock has a 50-day moving average price of $6.27 and a 200 day moving average price of $5.05. The firm has a market cap of $650.30 million, a price-to-earnings ratio of -14.80 and a beta of 0.59. Trevi Therapeutics, Inc. has a 12 month low of $2.36 and a 12 month high of $7.48.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. Sell-side analysts predict that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current fiscal year.

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.