Trevi Therapeutics, Inc. $TRVI Stock Purchased by Candriam S.C.A.

Candriam S.C.A. grew its holdings in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 35.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,308,104 shares of the company’s stock after buying an additional 341,885 shares during the period. Candriam S.C.A.’s holdings in Trevi Therapeutics were worth $18,800,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Legal & General Group Plc bought a new stake in shares of Trevi Therapeutics during the 2nd quarter valued at about $1,477,000. First Light Asset Management LLC purchased a new position in shares of Trevi Therapeutics during the second quarter valued at about $39,113,000. Assenagon Asset Management S.A. bought a new position in Trevi Therapeutics in the second quarter worth about $28,447,000. Wellington Management Group LLP raised its stake in Trevi Therapeutics by 9.5% in the second quarter. Wellington Management Group LLP now owns 5,684,592 shares of the company’s stock worth $106,018,000 after buying an additional 495,504 shares in the last quarter. Finally, Jupiter Topco LLC bought a new position in Trevi Therapeutics in the second quarter worth about $22,188,000. Institutional investors own 95.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TRVI shares. Wall Street Zen cut Trevi Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. HC Wainwright increased their target price on Trevi Therapeutics from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Raymond James Financial reissued a “strong-buy” rating and issued a $40.00 target price on shares of Trevi Therapeutics in a research report on Friday, August 7th. Cantor Fitzgerald raised their target price on Trevi Therapeutics from $25.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, B. Riley Financial lifted their price target on Trevi Therapeutics from $21.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.08.

Insider Activity at Trevi Therapeutics

In other news, Director Michael Heffernan sold 39,473 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $15.09, for a total value of $595,647.57. Following the sale, the director directly owned 6,351 shares of the company’s stock, valued at approximately $95,836.59. This represents a 86.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 15.39% of the company’s stock.

Trevi Therapeutics Price Performance

Trevi Therapeutics stock opened at $14.33 on Monday. Trevi Therapeutics, Inc. has a twelve month low of $9.82 and a twelve month high of $20.22. The company has a market capitalization of $2.04 billion, a P/E ratio of -42.15 and a beta of 1.15. The stock’s 50 day moving average is $14.27 and its 200 day moving average is $14.39.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.11). As a group, equities analysts expect that Trevi Therapeutics, Inc. will post -0.48 EPS for the current year.

Trevi Therapeutics Company Profile

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for chronic conditions that have limited therapeutic options. The company’s lead product candidate is Haduvio, an oral extended-release formulation of nalbuphine, an opioid receptor modulator designed to combine kappa-opioid receptor agonism with mu-opioid receptor antagonism.

Trevi is evaluating Haduvio in conditions involving chronic cough and severe itching. Its clinical development programs have included studies in chronic cough associated with idiopathic pulmonary fibrosis, a progressive lung disease, and chronic pruritus associated with systemic sclerosis, an autoimmune connective-tissue disorder.