Rubric Capital Management LP Lowers Holdings in Trevi Therapeutics, Inc. $TRVI

Rubric Capital Management LP decreased its holdings in Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,712,373 shares of the company’s stock after selling 54,376 shares during the quarter. Rubric Capital Management LP’s holdings in Trevi Therapeutics were worth $44,289,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. KBC Group NV acquired a new stake in Trevi Therapeutics during the 1st quarter worth approximately $29,000. Hilton Head Capital Partners LLC purchased a new position in Trevi Therapeutics in the 4th quarter valued at approximately $40,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Trevi Therapeutics in the fourth quarter worth $50,000. Russell Investments Group Ltd. grew its stake in shares of Trevi Therapeutics by 194.5% in the second quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock worth $25,000 after acquiring an additional 2,996 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Trevi Therapeutics by 32.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,231 shares of the company’s stock worth $78,000 after acquiring an additional 1,523 shares during the period. Institutional investors and hedge funds own 95.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. BMO Capital Markets began coverage on Trevi Therapeutics in a research note on Monday, July 20th. They issued an “outperform” rating and a $36.00 price objective on the stock. Stifel Nicolaus set a $30.00 target price on Trevi Therapeutics in a research note on Friday, May 8th. Needham & Company LLC restated a “buy” rating and set a $23.00 price target on shares of Trevi Therapeutics in a report on Wednesday, May 20th. B. Riley Financial upped their price target on Trevi Therapeutics from $21.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Trevi Therapeutics currently has an average rating of “Buy” and an average target price of $24.91.

Trevi Therapeutics Stock Up 3.4%

NASDAQ TRVI opened at $18.12 on Tuesday. Trevi Therapeutics, Inc. has a 52 week low of $6.55 and a 52 week high of $20.22. The stock has a market capitalization of $2.57 billion, a PE ratio of -56.62 and a beta of 1.00. The firm has a 50 day moving average of $16.20 and a two-hundred day moving average of $13.56.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). On average, equities research analysts expect that Trevi Therapeutics, Inc. will post -0.47 earnings per share for the current fiscal 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.