Candriam S.C.A. Buys Shares of 773,620 Trevi Therapeutics, Inc. $TRVI

Candriam S.C.A. bought a new stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) in the 1st quarter, HoldingsChannel.com reports. The firm bought 773,620 shares of the company’s stock, valued at approximately $9,229,000.

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

Trevi Therapeutics Price Performance

Shares of TRVI opened at $17.84 on Monday. The business’s fifty day moving average price is $15.49 and its 200 day moving average price is $13.16. Trevi Therapeutics, Inc. has a 12-month low of $6.24 and a 12-month high of $20.15. The stock has a market capitalization of $2.53 billion, a PE ratio of -55.75 and a beta of 1.00.

Trevi Therapeutics (NASDAQ:TRVI) last released its earnings results 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, research analysts anticipate that Trevi Therapeutics, Inc. will post -0.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TRVI has been the subject of several research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $23.00 target price on shares of Trevi Therapeutics in a research report on Wednesday, May 20th. Stifel Nicolaus set a $30.00 price target on shares of Trevi Therapeutics in a research report on Friday, May 8th. JonesTrading decreased their price target on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, March 19th. 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. Finally, HC Wainwright reissued a “buy” rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price 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.