Trevi Therapeutics, Inc. $TRVI Shares Sold by Rubric Capital Management LP

Rubric Capital Management LP cut its stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 1.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,712,373 shares of the company’s stock after selling 54,376 shares during the period. Rubric Capital Management LP owned approximately 2.61% of Trevi Therapeutics worth $44,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its holdings in Trevi Therapeutics by 55.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 43,561 shares of the company’s stock valued at $520,000 after buying an additional 15,624 shares in the last quarter. AlphaCentric Advisors LLC grew its holdings in shares of Trevi Therapeutics by 5.7% in the first quarter. AlphaCentric Advisors LLC now owns 23,970 shares of the company’s stock valued at $286,000 after purchasing an additional 1,303 shares during the period. KBC Group NV acquired a new stake in Trevi Therapeutics during the first quarter worth about $29,000. Fifth Third Bancorp acquired a new stake in Trevi Therapeutics during the first quarter worth about $1,531,000. Finally, Candriam S.C.A. purchased a new position in Trevi Therapeutics during the first quarter worth about $9,229,000. Hedge funds and other institutional investors own 95.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Trevi Therapeutics in a research note on Friday, July 17th. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price objective on shares of Trevi Therapeutics in a report on Wednesday, May 20th. Wall Street Zen lowered Trevi Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. Stifel Nicolaus set a $30.00 price objective on Trevi Therapeutics in a research report on Friday, May 8th. Finally, D. Boral Capital restated a “buy” rating and issued a $19.00 target price on shares of Trevi Therapeutics in a research report on Friday, April 17th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Trevi Therapeutics currently has an average rating of “Buy” and a consensus price target of $24.91.

Trevi Therapeutics Stock Up 3.4%

Shares of NASDAQ TRVI opened at $18.12 on Tuesday. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of -56.62 and a beta of 1.00. Trevi Therapeutics, Inc. has a 52-week low of $6.55 and a 52-week high of $20.22. The business’s 50 day moving average is $16.20 and its two-hundred day moving average is $13.56.

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

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.