Simplify Asset Management Inc. Invests $780,000 in Trevi Therapeutics, Inc. $TRVI

Simplify Asset Management Inc. acquired a new stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 65,412 shares of the company’s stock, valued at approximately $780,000. Simplify Asset Management Inc. owned 0.05% of Trevi Therapeutics as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of TRVI. Pivotal bioVenture Partners Investment Advisor LLC lifted its position 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. Nan Fung Trinity HK Ltd. grew its holdings in shares of Trevi Therapeutics by 924.2% in 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. F m Investments LLC purchased a new position in Trevi Therapeutics in the 4th quarter worth about $3,023,000. Pictet Asset Management Holding SA increased its stake in Trevi Therapeutics by 13,507.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,532,013 shares of the company’s stock worth $19,181,000 after buying an additional 1,520,754 shares during the period. Finally, Comerica Bank increased its stake in Trevi Therapeutics by 19,481.8% in the 4th quarter. Comerica Bank now owns 83,027 shares of the company’s stock worth $1,039,000 after buying an additional 82,603 shares during the period. Institutional investors own 95.76% of the company’s stock.

Trevi Therapeutics Stock Performance

Shares of NASDAQ:TRVI opened at $17.93 on Friday. The company has a market capitalization of $2.55 billion, a PE ratio of -56.03 and a beta of 1.00. Trevi Therapeutics, Inc. has a 12-month low of $5.71 and a 12-month high of $19.26. The business’s fifty day simple moving average is $15.06 and its 200-day simple moving average is $12.94.

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

Analyst Upgrades and Downgrades

TRVI has been the topic of several research reports. Wall Street Zen upgraded Trevi Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 target price on shares of Trevi Therapeutics in a report on Wednesday, May 20th. D. Boral Capital restated a “buy” rating and set a $19.00 price target on shares of Trevi Therapeutics in a research note on Friday, April 17th. HC Wainwright restated a “buy” rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a report on Wednesday, May 6th. Finally, Stifel Nicolaus set a $30.00 price objective on Trevi Therapeutics in a report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $22.67.

About Trevi Therapeutics

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.