Nan Fung Trinity HK Ltd. Invests $820,000 in Trevi Therapeutics, Inc. $TRVI

Nan Fung Trinity HK Ltd. bought a new position in Trevi Therapeutics, Inc. (NASDAQ:TRVI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 89,575 shares of the company’s stock, valued at approximately $820,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Rubric Capital Management LP increased its holdings 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 acquiring an additional 3,993,325 shares during the period. Vivo Capital LLC increased its stake in shares of Trevi Therapeutics by 28.7% in the second quarter. Vivo Capital LLC now owns 4,487,903 shares of the company’s stock valued at $24,549,000 after purchasing an additional 1,000,000 shares during the period. Alliancebernstein L.P. increased its stake in shares of Trevi Therapeutics by 19,064.5% in the second quarter. Alliancebernstein L.P. now owns 4,281,355 shares of the company’s stock valued at $23,419,000 after purchasing an additional 4,259,015 shares during the period. Octagon Capital Advisors LP raised its holdings in shares of Trevi Therapeutics by 10.5% during the second quarter. Octagon Capital Advisors LP now owns 3,672,000 shares of the company’s stock valued at $20,086,000 after buying an additional 350,000 shares during the last quarter. Finally, Orbimed Advisors LLC boosted its position in shares of Trevi Therapeutics by 195.4% during the second quarter. Orbimed Advisors LLC now owns 3,308,400 shares of the company’s stock worth $18,097,000 after buying an additional 2,188,400 shares during the period. 95.76% of the stock is currently owned by institutional investors.

Trevi Therapeutics Stock Down 2.1%

Shares of Trevi Therapeutics stock opened at $10.47 on Friday. Trevi Therapeutics, Inc. has a 12-month low of $3.77 and a 12-month high of $14.39. The firm has a market capitalization of $1.34 billion, a PE ratio of -28.30 and a beta of 0.91. The stock’s fifty day moving average is $12.03 and its 200-day moving average is $9.99.

Trevi Therapeutics (NASDAQ:TRVI) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. Analysts expect that Trevi Therapeutics, Inc. will post -0.49 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TRVI. HC Wainwright restated a “buy” rating and issued a $21.00 target price on shares of Trevi Therapeutics in a research report on Friday, January 9th. B. Riley raised Trevi Therapeutics to a “strong-buy” rating in a report on Monday, November 17th. D. Boral Capital reaffirmed a “buy” rating and set a $19.00 target price on shares of Trevi Therapeutics in a research note on Thursday, January 8th. Morgan Stanley lifted their target price on Trevi Therapeutics from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Finally, Leerink Partners boosted their price target on shares of Trevi Therapeutics from $13.00 to $16.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $21.10.

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.