Trevi Therapeutics, Inc. $TRVI Shares Sold by Octagon Capital Advisors LP

Octagon Capital Advisors LP cut its stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 47.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 1,485,000 shares of the company’s stock after selling 1,330,000 shares during the quarter. Trevi Therapeutics makes up 2.0% of Octagon Capital Advisors LP’s holdings, making the stock its 17th biggest holding. Octagon Capital Advisors LP’s holdings in Trevi Therapeutics were worth $17,716,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TRVI. AlphaCentric Advisors LLC raised its position in shares of Trevi Therapeutics by 5.7% in the 1st quarter. AlphaCentric Advisors LLC now owns 23,970 shares of the company’s stock worth $286,000 after buying an additional 1,303 shares during the period. KBC Group NV acquired a new position in Trevi Therapeutics in the first quarter valued at $29,000. Fifth Third Bancorp purchased a new stake in Trevi Therapeutics during the first quarter valued at about $1,531,000. Candriam S.C.A. acquired a new stake in Trevi Therapeutics during the first quarter worth about $9,229,000. Finally, Hsbc Holdings PLC acquired a new stake in Trevi Therapeutics during the first quarter worth about $205,000. 95.76% of the stock is currently owned by institutional investors and hedge funds.

Trevi Therapeutics Price Performance

NASDAQ:TRVI opened at $17.53 on Monday. The firm has a 50-day moving average of $16.11 and a two-hundred day moving average of $13.51. The stock has a market cap of $2.49 billion, a P/E ratio of -54.78 and a beta of 1.00. Trevi Therapeutics, Inc. has a 1-year low of $6.55 and a 1-year high of $20.22.

Trevi Therapeutics (NASDAQ:TRVI) last announced its earnings results on Tuesday, May 5th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.02). As a group, equities analysts expect that Trevi Therapeutics, Inc. will post -0.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TRVI shares. Stifel Nicolaus set a $30.00 price objective on Trevi Therapeutics in a research note on Friday, May 8th. 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. Weiss Ratings restated a “sell (d-)” rating on shares of Trevi Therapeutics in a report on Friday, July 17th. HC Wainwright lifted their price target on shares of Trevi Therapeutics from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $20.00 price objective on shares of Trevi Therapeutics in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $24.91.

About Trevi Therapeutics

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.