Fifth Third Bancorp Invests $1.53 Million in Trevi Therapeutics, Inc. $TRVI

Fifth Third Bancorp acquired a new stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 128,325 shares of the company’s stock, valued at approximately $1,531,000. Fifth Third Bancorp owned approximately 0.10% of Trevi Therapeutics at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alliancebernstein L.P. raised its stake in shares of Trevi Therapeutics by 19,064.5% in the 2nd quarter. Alliancebernstein L.P. now owns 4,281,355 shares of the company’s stock valued at $23,419,000 after purchasing an additional 4,259,015 shares during the period. Rubric Capital Management LP boosted its position in shares of Trevi Therapeutics by 88.0% during the second quarter. Rubric Capital Management LP now owns 8,531,860 shares of the company’s stock worth $46,669,000 after buying an additional 3,993,325 shares during the period. Viking Global Investors LP grew its holdings in shares of Trevi Therapeutics by 232.4% during the third quarter. Viking Global Investors LP now owns 5,128,875 shares of the company’s stock worth $46,929,000 after buying an additional 3,585,875 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Trevi Therapeutics by 1,792.0% during the third quarter. Wellington Management Group LLP now owns 3,253,888 shares of the company’s stock worth $29,773,000 after buying an additional 3,081,906 shares in the last quarter. Finally, Marshall Wace LLP raised its position in Trevi Therapeutics by 95.4% in the 3rd quarter. Marshall Wace LLP now owns 4,841,751 shares of the company’s stock valued at $44,302,000 after buying an additional 2,363,835 shares during the last quarter. 95.76% of the stock is owned by institutional investors and hedge funds.

Trevi Therapeutics Price Performance

Shares of TRVI stock opened at $17.18 on Friday. The stock has a market cap of $2.44 billion, a P/E ratio of -53.69 and a beta of 1.00. The company has a fifty day moving average price of $16.04 and a two-hundred day moving average price of $13.47. Trevi Therapeutics, Inc. has a one year low of $6.55 and a one year high of $20.22.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price target on shares of Trevi Therapeutics in a research report on Wednesday, May 20th. B. Riley Financial boosted their price objective on shares of Trevi Therapeutics from $21.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Trevi Therapeutics in a report on Friday, July 17th. HC Wainwright raised their target price on shares of Trevi Therapeutics from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Monday. Finally, D. Boral Capital reiterated a “buy” rating and issued a $19.00 price target on shares of Trevi Therapeutics in a research note on Friday, April 17th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $24.91.

Trevi Therapeutics Company 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.