Rubric Capital Management LP Sells 537,192 Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI)

Rubric Capital Management LP trimmed its position in Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 9.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,026,931 shares of the company’s stock after selling 537,192 shares during the period. Rubric Capital Management LP owned approximately 7.14% of Trevi Therapeutics worth $14,980,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD bought a new stake in Trevi Therapeutics in the 1st quarter valued at about $47,000. Hsbc Holdings PLC bought a new stake in Trevi Therapeutics in the 2nd quarter valued at about $61,000. American Century Companies Inc. increased its position in Trevi Therapeutics by 17.1% in the 2nd quarter. American Century Companies Inc. now owns 54,108 shares of the company’s stock valued at $161,000 after buying an additional 7,902 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in Trevi Therapeutics during the 1st quarter worth approximately $208,000. Finally, Dimensional Fund Advisors LP increased its holdings in Trevi Therapeutics by 217.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 72,210 shares of the company’s stock worth $215,000 after purchasing an additional 49,475 shares in the last quarter. 95.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TRVI. Raymond James began coverage on Trevi Therapeutics in a report on Friday, August 30th. They set an “outperform” rating and a $9.00 price objective for the company. EF Hutton Acquisition Co. I raised Trevi Therapeutics to a “strong-buy” rating in a report on Monday, August 19th. Leerink Partnrs raised Trevi Therapeutics to a “strong-buy” rating in a report on Monday, September 9th. Leerink Partners began coverage on Trevi Therapeutics in a report on Monday, September 9th. They set an “outperform” rating and a $7.00 price objective for the company. Finally, HC Wainwright initiated coverage on Trevi Therapeutics in a report on Friday, August 30th. They set a “buy” rating and a $6.00 price objective for the company. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Trevi Therapeutics currently has an average rating of “Buy” and a consensus price target of $7.67.

Insider Activity at Trevi Therapeutics

In related news, insider Thomas Sciascia sold 18,660 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $2.76, for a total value of $51,501.60. Following the transaction, the insider now owns 220,315 shares in the company, valued at $608,069.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Trevi Therapeutics news, CEO Jennifer L. Good sold 10,981 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $3.02, for a total transaction of $33,162.62. Following the sale, the chief executive officer now owns 213,313 shares in the company, valued at $644,205.26. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thomas Sciascia sold 18,660 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $2.76, for a total value of $51,501.60. Following the sale, the insider now owns 220,315 shares in the company, valued at approximately $608,069.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,355 shares of company stock worth $116,663. Insiders own 24.37% of the company’s stock.

Trevi Therapeutics Stock Down 1.7 %

Shares of NASDAQ TRVI opened at $3.44 on Friday. Trevi Therapeutics, Inc. has a twelve month low of $0.97 and a twelve month high of $4.00. The stock’s 50 day moving average price is $2.99 and its 200-day moving average price is $2.91. The company has a market capitalization of $242.30 million, a PE ratio of -10.12 and a beta of 0.96.

Trevi Therapeutics (NASDAQ:TRVI) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.01). During the same quarter last year, the firm posted ($0.07) earnings per share. As a group, research analysts expect that Trevi Therapeutics, Inc. will post -0.47 EPS for the current fiscal year.

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.