The Manufacturers Life Insurance Company Buys 11,450 Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI)

The Manufacturers Life Insurance Company increased its stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 87.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,524 shares of the company’s stock after buying an additional 11,450 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Trevi Therapeutics were worth $73,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Ally Bridge Group NY LLC bought a new stake in Trevi Therapeutics during the second quarter worth $4,395,000. Logos Global Management LP raised its holdings in shares of Trevi Therapeutics by 27.3% in the 2nd quarter. Logos Global Management LP now owns 2,800,000 shares of the company’s stock valued at $8,344,000 after purchasing an additional 600,000 shares during the period. Rosalind Advisors Inc. lifted its stake in Trevi Therapeutics by 50.3% in the 2nd quarter. Rosalind Advisors Inc. now owns 1,391,577 shares of the company’s stock valued at $4,147,000 after purchasing an additional 465,561 shares during the last quarter. Propel Bio Management LLC bought a new position in Trevi Therapeutics during the first quarter worth about $897,000. Finally, Opaleye Management Inc. grew its holdings in Trevi Therapeutics by 4.3% during the first quarter. Opaleye Management Inc. now owns 2,645,000 shares of the company’s stock worth $9,125,000 after purchasing an additional 110,000 shares during the period. 95.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TRVI. HC Wainwright began coverage on Trevi Therapeutics in a research report on Friday, August 30th. They issued a “buy” rating and a $6.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $8.00 price target on shares of Trevi Therapeutics in a research note on Friday, October 4th. Leerink Partnrs raised shares of Trevi Therapeutics to a “strong-buy” rating in a research report on Monday, September 9th. Leerink Partners started coverage on shares of Trevi Therapeutics in a report on Monday, September 9th. They issued an “outperform” rating and a $7.00 price objective on the stock. Finally, B. Riley restated a “buy” rating and set a $6.00 target price on shares of Trevi Therapeutics in a research note on Monday, October 7th. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Trevi Therapeutics currently has an average rating of “Buy” and a consensus target price of $7.43.

Trevi Therapeutics Price Performance

Shares of NASDAQ TRVI opened at $3.12 on Monday. The firm has a market cap of $226.48 million, a price-to-earnings ratio of -8.00 and a beta of 0.97. The stock’s fifty day moving average price is $3.08 and its two-hundred day moving average price is $2.89. Trevi Therapeutics, Inc. has a one year low of $0.97 and a one year high of $4.00.

Trevi Therapeutics (NASDAQ:TRVI) last announced its earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). During the same quarter in the prior year, the company earned ($0.07) EPS. On average, equities analysts anticipate that Trevi Therapeutics, Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Trevi Therapeutics

In other news, insider Thomas Sciascia sold 18,660 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $2.76, for a total transaction of $51,501.60. Following the transaction, the insider now directly owns 220,315 shares of the company’s stock, valued at approximately $608,069.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Thomas Sciascia sold 18,660 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $2.76, for a total transaction of $51,501.60. Following the completion of the sale, the insider now directly owns 220,315 shares in the company, valued at approximately $608,069.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer L. Good sold 10,981 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $3.02, for a total value of $33,162.62. Following the completion of the transaction, the chief executive officer now owns 213,313 shares in the company, valued at $644,205.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,355 shares of company stock valued at $116,663 in the last quarter. Company insiders own 24.37% of the company’s stock.

About Trevi Therapeutics

Trevi Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapy Haduvio for the treatment of chronic cough in idiopathic pulmonary fibrosis (IPF) and refractory chronic cough (RCC) conditions targeting the central and peripheral nervous systems.