Sei Investments Co. Sells 69,719 Shares of Trevi Therapeutics, Inc. $TRVI

Sei Investments Co. cut its holdings in Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 47.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 78,222 shares of the company’s stock after selling 69,719 shares during the quarter. Sei Investments Co.’s holdings in Trevi Therapeutics were worth $933,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. AQR Capital Management LLC increased its stake in shares of Trevi Therapeutics by 20.4% in the 1st quarter. AQR Capital Management LLC now owns 27,720 shares of the company’s stock valued at $174,000 after acquiring an additional 4,688 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Trevi Therapeutics by 31.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,143 shares of the company’s stock worth $278,000 after acquiring an additional 10,445 shares in the last quarter. Millennium Management LLC boosted its stake in Trevi Therapeutics by 356.3% during the first quarter. Millennium Management LLC now owns 823,249 shares of the company’s stock worth $5,178,000 after acquiring an additional 642,830 shares in the last quarter. Strs Ohio acquired a new stake in Trevi Therapeutics in the first quarter worth $52,000. Finally, Creative Planning grew its holdings in Trevi Therapeutics by 17.5% in the second quarter. Creative Planning now owns 20,247 shares of the company’s stock worth $111,000 after purchasing an additional 3,016 shares during the period. 95.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TRVI has been the topic of several research reports. BMO Capital Markets started coverage on shares of Trevi Therapeutics in a report on Monday, July 20th. They set an “outperform” rating and a $36.00 price objective on the stock. 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Friday, July 17th. B. Riley Financial upped their price target on Trevi Therapeutics from $21.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $23.00 price target on shares of Trevi Therapeutics in a research note on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Trevi Therapeutics currently has an average rating of “Buy” and an average target price of $26.75.

Trevi Therapeutics Trading Down 0.4%

Shares of TRVI stock opened at $17.73 on Thursday. The firm has a market capitalization of $2.53 billion, a PE ratio of -52.15 and a beta of 1.03. The firm has a fifty day simple moving average of $17.22 and a two-hundred day simple moving average of $14.18. Trevi Therapeutics, Inc. has a 12 month low of $6.93 and a 12 month high of $20.22.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). On average, equities analysts predict that Trevi Therapeutics, Inc. will post -0.48 earnings per share for the current fiscal year.

Trevi Therapeutics Company 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.