Rhumbline Advisers Increases Stock Position in Trevi Therapeutics, Inc. (NASDAQ:TRVI)

Rhumbline Advisers grew its position in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 44.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,218 shares of the company’s stock after purchasing an additional 23,263 shares during the period. Rhumbline Advisers owned 0.11% of Trevi Therapeutics worth $224,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Frazier Life Sciences Management L.P. increased its holdings in shares of Trevi Therapeutics by 7.3% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 7,381,090 shares of the company’s stock worth $9,891,000 after buying an additional 500,000 shares during the last quarter. Opaleye Management Inc. lifted its position in shares of Trevi Therapeutics by 48.6% during the fourth quarter. Opaleye Management Inc. now owns 2,535,000 shares of the company’s stock worth $3,397,000 after purchasing an additional 829,100 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Trevi Therapeutics during the first quarter worth $208,000. Vanguard Group Inc. raised its position in shares of Trevi Therapeutics by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 2,303,648 shares of the company’s stock worth $7,948,000 after purchasing an additional 60,249 shares during the period. Finally, Propel Bio Management LLC acquired a new position in shares of Trevi Therapeutics during the first quarter valued at $897,000. Hedge funds and other institutional investors own 95.76% of the company’s stock.

Insider Activity

In other Trevi Therapeutics news, CEO Jennifer L. Good sold 10,981 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $3.02, for a total transaction of $33,162.62. Following the completion of the sale, the chief executive officer now owns 213,313 shares in the company, valued at approximately $644,205.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Trevi Therapeutics news, 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 transaction of $33,162.62. Following the transaction, the chief executive officer now directly owns 213,313 shares in the company, valued at approximately $644,205.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Thomas Sciascia sold 18,660 shares of the stock in a transaction dated 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 owns 220,315 shares of the company’s stock, valued at approximately $608,069.40. The disclosure for this sale can be found here. Insiders have sold 40,355 shares of company stock valued at $116,663 in the last ninety days. 24.37% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TRVI has been the subject of several recent analyst reports. Leerink Partners began coverage on shares of Trevi Therapeutics in a report on Monday, September 9th. They issued an “outperform” rating and a $7.00 price objective for the company. Leerink Partnrs upgraded shares of Trevi Therapeutics to a “strong-buy” rating in a research report on Monday, September 9th. HC Wainwright began coverage on shares of Trevi Therapeutics in a research note on Friday, August 30th. They issued a “buy” rating and a $6.00 price objective for the company. Rodman & Renshaw initiated coverage on shares of Trevi Therapeutics in a research report on Thursday, June 13th. They set a “buy” rating and a $7.00 target price for the company. Finally, Raymond James initiated coverage on Trevi Therapeutics in a research report on Friday, August 30th. They issued an “outperform” rating and a $9.00 price objective for the company. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $7.67.

Trevi Therapeutics Stock Performance

NASDAQ:TRVI opened at $3.33 on Friday. The firm has a market cap of $234.55 million, a price-to-earnings ratio of -9.79 and a beta of 0.96. Trevi Therapeutics, Inc. has a 52 week low of $0.97 and a 52 week high of $4.00. The firm’s 50-day simple moving average is $3.03 and its 200 day simple moving average is $2.92.

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

Trevi Therapeutics Company Profile

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.