Simplify Asset Management Inc. Invests $780,000 in Trevi Therapeutics, Inc. $TRVI

Simplify Asset Management Inc. acquired a new stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 65,412 shares of the company’s stock, valued at approximately $780,000.

A number of other institutional investors have also recently made changes to their positions in TRVI. Alliancebernstein L.P. boosted its position in shares of Trevi Therapeutics by 19,064.5% in the 2nd quarter. Alliancebernstein L.P. now owns 4,281,355 shares of the company’s stock worth $23,419,000 after purchasing an additional 4,259,015 shares in the last quarter. Rubric Capital Management LP increased its position in Trevi Therapeutics by 88.0% during the 2nd quarter. Rubric Capital Management LP now owns 8,531,860 shares of the company’s stock valued at $46,669,000 after buying an additional 3,993,325 shares in the last quarter. Viking Global Investors LP increased its position in Trevi Therapeutics by 232.4% during the 3rd quarter. Viking Global Investors LP now owns 5,128,875 shares of the company’s stock valued at $46,929,000 after buying an additional 3,585,875 shares in the last quarter. Wellington Management Group LLP raised its stake in Trevi Therapeutics by 1,792.0% in the third quarter. Wellington Management Group LLP now owns 3,253,888 shares of the company’s stock valued at $29,773,000 after buying an additional 3,081,906 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in Trevi Therapeutics by 95.4% in the third quarter. Marshall Wace LLP now owns 4,841,751 shares of the company’s stock valued at $44,302,000 after buying an additional 2,363,835 shares during the last quarter. Institutional investors and hedge funds own 95.76% of the company’s stock.

Analyst Upgrades and Downgrades

TRVI has been the topic of a number of research analyst reports. Wall Street Zen upgraded Trevi Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Trevi Therapeutics in a research report on Wednesday, May 20th. HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a research report on Wednesday, May 6th. Stifel Nicolaus set a $30.00 target price on shares of Trevi Therapeutics in a research note on Friday, May 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Trevi Therapeutics has a consensus rating of “Buy” and an average price target of $22.67.

Trevi Therapeutics Stock Performance

Shares of TRVI stock opened at $17.93 on Friday. Trevi Therapeutics, Inc. has a fifty-two week low of $5.71 and a fifty-two week high of $19.26. The firm has a market capitalization of $2.55 billion, a PE ratio of -56.03 and a beta of 1.00. The stock’s 50-day simple moving average is $15.06 and its 200-day simple moving average is $12.94.

Trevi Therapeutics (NASDAQ:TRVI) last released its earnings results on Tuesday, May 5th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). Sell-side analysts forecast that Trevi Therapeutics, Inc. will post -0.47 earnings per share for the current year.

Trevi Therapeutics 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.