Emerald Advisers LLC Sells 52,710 Shares of Trevi Therapeutics, Inc. $TRVI

Emerald Advisers LLC reduced its holdings in Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,839,566 shares of the company’s stock after selling 52,710 shares during the quarter. Emerald Advisers LLC owned about 1.43% of Trevi Therapeutics worth $21,946,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in TRVI. Hilton Head Capital Partners LLC acquired a new position in shares of Trevi Therapeutics during the 4th quarter worth about $40,000. Caitong International Asset Management Co. Ltd acquired a new stake in Trevi Therapeutics in the 4th quarter valued at approximately $50,000. Russell Investments Group Ltd. grew its holdings in Trevi Therapeutics by 194.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock valued at $25,000 after buying an additional 2,996 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Trevi Therapeutics by 32.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,231 shares of the company’s stock worth $78,000 after buying an additional 1,523 shares during the period. Finally, Seven Fleet Capital Management LP bought a new position in Trevi Therapeutics in the 4th quarter worth approximately $89,000. 95.76% of the stock is currently owned by institutional investors.

Trevi Therapeutics Stock Down 7.4%

NASDAQ:TRVI opened at $16.52 on Tuesday. Trevi Therapeutics, Inc. has a 12-month low of $6.50 and a 12-month high of $20.15. The firm has a market capitalization of $2.35 billion, a PE ratio of -51.62 and a beta of 1.00. The firm has a 50-day moving average price of $15.55 and a 200 day moving average price of $13.18.

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 analysts’ consensus estimates of ($0.07) by ($0.02). On average, research analysts expect that Trevi Therapeutics, Inc. will post -0.47 EPS for the current year.

Analyst Upgrades and Downgrades

TRVI has been the subject of several research reports. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price objective on shares of Trevi Therapeutics in a research report on Wednesday, May 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Monday, April 20th. Wall Street Zen upgraded shares of Trevi Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. D. Boral Capital restated a “buy” rating and issued a $19.00 price target on shares of Trevi Therapeutics in a research report on Friday, April 17th. Finally, HC Wainwright restated a “buy” rating and issued a $21.00 price target on shares of Trevi Therapeutics in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $22.67.

Trevi Therapeutics 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.