Trevi Therapeutics, Inc. $TRVI Shares Sold by Orbimed Advisors LLC

Orbimed Advisors LLC lessened its stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 23.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,454,400 shares of the company’s stock after selling 736,300 shares during the period. Orbimed Advisors LLC’s holdings in Trevi Therapeutics were worth $29,281,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in shares of Trevi Therapeutics by 194.5% in the second quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock valued at $25,000 after purchasing an additional 2,996 shares during the period. KBC Group NV acquired a new stake in Trevi Therapeutics during the first quarter worth about $29,000. Hilton Head Capital Partners LLC purchased a new position in Trevi Therapeutics during the fourth quarter worth about $40,000. Caitong International Asset Management Co. Ltd purchased a new position in Trevi Therapeutics during the fourth quarter worth about $50,000. Finally, Strs Ohio acquired a new position in Trevi Therapeutics in the 1st quarter valued at about $52,000. Institutional investors and hedge funds own 95.76% of the company’s stock.

Trevi Therapeutics Stock Performance

Shares of TRVI stock opened at $17.53 on Monday. The firm has a market cap of $2.49 billion, a P/E ratio of -54.78 and a beta of 1.00. The firm’s 50 day moving average price is $16.11 and its 200-day moving average price is $13.51. Trevi Therapeutics, Inc. has a one year low of $6.55 and a one year high of $20.22.

Trevi Therapeutics (NASDAQ:TRVI) last posted 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 predict that Trevi Therapeutics, Inc. will post -0.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TRVI shares. Morgan Stanley reissued an “overweight” rating and issued a $20.00 price target on shares of Trevi Therapeutics in a research note on Wednesday, May 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price target on shares of Trevi Therapeutics in a research report on Wednesday, May 20th. BMO Capital Markets started coverage on Trevi Therapeutics in a report on Monday, July 20th. They issued an “outperform” rating and a $36.00 price objective on the stock. Wall Street Zen lowered Trevi Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Trevi Therapeutics in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $24.91.

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.