Nan Fung Trinity HK Ltd. Invests $820,000 in Trevi Therapeutics, Inc. $TRVI

Nan Fung Trinity HK Ltd. purchased a new stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 89,575 shares of the company’s stock, valued at approximately $820,000. Nan Fung Trinity HK Ltd. owned about 0.07% of Trevi Therapeutics as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Alliancebernstein L.P. increased 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 in the last quarter. Rubric Capital Management LP boosted its holdings in Trevi Therapeutics by 88.0% in the 2nd quarter. Rubric Capital Management LP now owns 8,531,860 shares of the company’s stock valued at $46,669,000 after purchasing an additional 3,993,325 shares during the last quarter. Orbimed Advisors LLC lifted its stake in shares of Trevi Therapeutics by 195.4% in the 2nd quarter. Orbimed Advisors LLC now owns 3,308,400 shares of the company’s stock valued at $18,097,000 after purchasing an additional 2,188,400 shares during the last quarter. Eventide Asset Management LLC acquired a new position in shares of Trevi Therapeutics in the 2nd quarter worth approximately $7,556,000. Finally, Affinity Asset Advisors LLC lifted its stake in Trevi Therapeutics by 102.7% during the 2nd quarter. Affinity Asset Advisors LLC now owns 2,534,058 shares of the company’s stock worth $13,861,000 after acquiring an additional 1,284,058 shares in the last quarter. Institutional investors and hedge funds own 95.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TRVI shares. HC Wainwright restated a “buy” rating and set a $21.00 price target on shares of Trevi Therapeutics in a report on Friday, January 9th. Morgan Stanley boosted their target price on Trevi Therapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Trevi Therapeutics in a research note on Wednesday, January 21st. Stifel Nicolaus increased their price objective on shares of Trevi Therapeutics from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Finally, Oppenheimer upped their target price on shares of Trevi Therapeutics from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, November 14th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Trevi Therapeutics presently has an average rating of “Buy” and an average target price of $21.10.

Trevi Therapeutics Stock Performance

TRVI stock opened at $10.47 on Friday. The firm has a market cap of $1.34 billion, a P/E ratio of -28.30 and a beta of 0.91. Trevi Therapeutics, Inc. has a 1 year low of $3.77 and a 1 year high of $14.39. The stock has a 50-day simple moving average of $12.03 and a 200-day simple moving average of $9.99.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. On average, equities research analysts predict that Trevi Therapeutics, Inc. will post -0.49 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.