Trevi Therapeutics, Inc. $TRVI Shares Purchased by Panagora Asset Management Inc.

Panagora Asset Management Inc. raised its stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 67.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 569,702 shares of the company’s stock after purchasing an additional 229,798 shares during the quarter. Panagora Asset Management Inc. owned about 0.47% of Trevi Therapeutics worth $3,116,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Russell Investments Group Ltd. raised its position in shares of Trevi Therapeutics by 194.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock worth $25,000 after buying an additional 2,996 shares during the period. Farther Finance Advisors LLC grew its position in Trevi Therapeutics by 15,969.1% during the second quarter. Farther Finance Advisors LLC now owns 8,838 shares of the company’s stock valued at $48,000 after acquiring an additional 8,783 shares during the period. Strs Ohio acquired a new stake in Trevi Therapeutics during the first quarter worth about $52,000. Catalyst Funds Management Pty Ltd purchased a new position in shares of Trevi Therapeutics in the 2nd quarter worth about $56,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Trevi Therapeutics by 20.0% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 12,000 shares of the company’s stock valued at $66,000 after purchasing an additional 2,000 shares in the last quarter. 95.76% of the stock is owned by hedge funds and other institutional investors.

Trevi Therapeutics Price Performance

Shares of TRVI stock opened at $13.70 on Thursday. The company’s fifty day moving average price is $10.87 and its two-hundred day moving average price is $8.34. The firm has a market capitalization of $1.76 billion, a P/E ratio of -37.03 and a beta of 0.83. Trevi Therapeutics, Inc. has a 12 month low of $2.36 and a 12 month high of $13.93.

Trevi Therapeutics (NASDAQ:TRVI) last announced its earnings results on Thursday, November 13th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.02. On average, sell-side analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TRVI. Morgan Stanley increased their target price on shares of Trevi Therapeutics from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Trevi Therapeutics in a research note on Wednesday, October 8th. Needham & Company LLC dropped their price objective on shares of Trevi Therapeutics from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Leerink Partners lifted their target price on shares of Trevi Therapeutics from $13.00 to $16.00 and gave the company an “outperform” rating in a report on Wednesday, November 19th. Finally, B. Riley upgraded Trevi Therapeutics to a “strong-buy” rating in a report on Monday, November 17th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Trevi Therapeutics presently has an average rating of “Buy” and a consensus price target of $21.44.

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.