Eventide Asset Management LLC Grows Stock Position in Trevi Therapeutics, Inc. $TRVI

Eventide Asset Management LLC lifted its stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 89.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,622,306 shares of the company’s stock after purchasing an additional 1,240,982 shares during the quarter. Eventide Asset Management LLC’s holdings in Trevi Therapeutics were worth $32,831,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Pivotal bioVenture Partners Investment Advisor LLC raised its stake in shares of Trevi Therapeutics by 9.7% during the third quarter. Pivotal bioVenture Partners Investment Advisor LLC now owns 1,256,782 shares of the company’s stock worth $11,500,000 after purchasing an additional 110,672 shares during the last quarter. F m Investments LLC purchased a new stake in shares of Trevi Therapeutics during the fourth quarter worth approximately $3,023,000. Nan Fung Trinity HK Ltd. raised its stake in shares of Trevi Therapeutics by 924.2% during the fourth quarter. Nan Fung Trinity HK Ltd. now owns 917,450 shares of the company’s stock worth $11,486,000 after purchasing an additional 827,875 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in shares of Trevi Therapeutics by 13,507.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,532,013 shares of the company’s stock worth $19,181,000 after purchasing an additional 1,520,754 shares during the last quarter. Finally, Comerica Bank raised its stake in shares of Trevi Therapeutics by 19,481.8% during the fourth quarter. Comerica Bank now owns 83,027 shares of the company’s stock worth $1,039,000 after purchasing an additional 82,603 shares during the last quarter. Hedge funds and other institutional investors own 95.76% of the company’s stock.

Wall Street Analyst Weigh In

TRVI has been the subject of several analyst reports. Oppenheimer restated an “outperform” rating on shares of Trevi Therapeutics in a research note on Monday, March 9th. Stifel Nicolaus set a $30.00 price target on Trevi Therapeutics in a research note on Friday, May 8th. D. Boral Capital reiterated a “buy” rating and issued a $19.00 price objective on shares of Trevi Therapeutics in a research report on Friday, April 17th. JonesTrading cut their price objective on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, March 19th. Finally, HC Wainwright reiterated a “buy” rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Trevi Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $22.90.

Trevi Therapeutics Stock Performance

NASDAQ:TRVI opened at $14.21 on Friday. The stock has a fifty day moving average price of $13.96 and a two-hundred day moving average price of $12.49. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of -44.41 and a beta of 1.04. Trevi Therapeutics, Inc. has a 1 year low of $5.41 and a 1 year high of $16.12.

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

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.