The Manufacturers Life Insurance Company Purchases New Position in Trevi Therapeutics, Inc. $TRVI

The Manufacturers Life Insurance Company acquired a new stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI) in the 2nd quarter, Holdings Channel reports. The fund acquired 49,611 shares of the company’s stock, valued at approximately $925,000.

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

Trevi Therapeutics Stock Up 1.2%

TRVI opened at $17.26 on Friday. The business has a 50 day moving average price of $17.96 and a two-hundred day moving average price of $14.98. The company has a market cap of $2.46 billion, a PE ratio of -50.76 and a beta of 1.04. Trevi Therapeutics, Inc. has a 52 week low of $6.93 and a 52 week high of $20.22.

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

Analyst Ratings Changes

TRVI has been the subject of a number of research reports. Wall Street Zen cut Trevi Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. B. Riley Financial lifted their target price on shares of Trevi Therapeutics from $21.00 to $31.00 and gave the company a “buy” rating in a report on Monday, July 20th. Morgan Stanley reiterated an “overweight” rating and issued a $23.00 price target on shares of Trevi Therapeutics in a research report on Friday, August 7th. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price target on shares of Trevi Therapeutics in a research report on Wednesday, May 20th. Finally, Weiss Ratings reiterated 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, ten have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $27.08.

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.