Walleye Capital LLC Purchases Shares of 241,987 Trevi Therapeutics, Inc. $TRVI

Walleye Capital LLC acquired a new stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 241,987 shares of the company’s stock, valued at approximately $4,513,000. Walleye Capital LLC owned 0.17% of Trevi Therapeutics as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Rubric Capital Management LP raised its position in shares of Trevi Therapeutics by 88.0% in the 2nd quarter. Rubric Capital Management LP now owns 8,531,860 shares of the company’s stock worth $46,669,000 after buying an additional 3,993,325 shares during the period. Vanguard Group Inc. grew its position in Trevi Therapeutics by 10.4% during the fourth quarter. Vanguard Group Inc. now owns 6,434,655 shares of the company’s stock valued at $80,562,000 after acquiring an additional 607,669 shares during the period. Viking Global Investors LP increased its stake in Trevi Therapeutics by 232.4% during the third quarter. Viking Global Investors LP now owns 5,128,875 shares of the company’s stock worth $46,929,000 after acquiring an additional 3,585,875 shares during the last quarter. Vivo Capital LLC increased its stake in Trevi Therapeutics by 13.5% during the third quarter. Vivo Capital LLC now owns 5,094,668 shares of the company’s stock worth $46,616,000 after acquiring an additional 606,765 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Trevi Therapeutics by 95.4% in the 3rd quarter. Marshall Wace LLP now owns 4,841,751 shares of the company’s stock worth $44,302,000 after purchasing an additional 2,363,835 shares during the period. 95.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TRVI has been the topic of several research analyst reports. HC Wainwright lifted their price objective on Trevi Therapeutics from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, July 20th. D. Boral Capital reissued a “buy” rating and set a $19.00 target price on shares of Trevi Therapeutics in a research report on Friday, April 17th. Morgan Stanley restated an “overweight” rating and issued a $23.00 price target on shares of Trevi Therapeutics in a report on Friday, August 7th. Wall Street Zen cut shares of Trevi Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, B. Riley Financial boosted their price objective on shares of Trevi Therapeutics from $21.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Two 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’s stock. Based on data from MarketBeat.com, Trevi Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $27.08.

Trevi Therapeutics Price Performance

NASDAQ:TRVI opened at $18.46 on Friday. The business’s 50-day moving average is $17.41 and its two-hundred day moving average is $14.27. The firm has a market capitalization of $2.63 billion, a PE ratio of -54.29 and a beta of 1.03. Trevi Therapeutics, Inc. has a 12 month low of $6.93 and a 12 month high of $20.22.

Trevi Therapeutics (NASDAQ:TRVI) last issued its earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). Equities analysts anticipate 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 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.