Trevi Therapeutics, Inc. (NASDAQ:TRVI) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 2.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 140,219 shares of the company’s stock after acquiring an additional 2,935 shares during the period. Bank of New York Mellon Corp owned approximately 0.18% of Trevi Therapeutics worth $578,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TRVI. Geode Capital Management LLC boosted its stake in Trevi Therapeutics by 10.2% during the third quarter. Geode Capital Management LLC now owns 1,264,166 shares of the company’s stock worth $4,223,000 after buying an additional 117,418 shares during the period. Fred Alger Management LLC acquired a new stake in Trevi Therapeutics in the 3rd quarter valued at approximately $256,000. JPMorgan Chase & Co. raised its position in Trevi Therapeutics by 220.6% in the third quarter. JPMorgan Chase & Co. now owns 100,517 shares of the company’s stock valued at $336,000 after purchasing an additional 69,167 shares during the period. Barclays PLC boosted its position in shares of Trevi Therapeutics by 180.8% during the third quarter. Barclays PLC now owns 95,232 shares of the company’s stock worth $319,000 after buying an additional 61,317 shares during the period. Finally, State Street Corp grew its stake in shares of Trevi Therapeutics by 5.9% in the third quarter. State Street Corp now owns 952,912 shares of the company’s stock valued at $3,183,000 after buying an additional 53,051 shares in the last quarter. Hedge funds and other institutional investors own 95.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TRVI. Needham & Company LLC dropped their target price on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Oppenheimer upped their target price on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. Raymond James raised shares of Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $9.00 to $29.00 in a research report on Monday, March 10th. HC Wainwright reiterated a “buy” rating and issued a $12.50 price objective on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Finally, B. Riley reissued a “buy” rating and set a $20.00 target price (up from $11.00) on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Seven analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $17.56.

Insider Activity at Trevi Therapeutics

In other Trevi Therapeutics news, insider Farrell Simon sold 81,313 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $6.75, for a total transaction of $548,862.75. Following the transaction, the insider now owns 76,900 shares of the company’s stock, valued at approximately $519,075. This trade represents a 51.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer L. Good sold 5,263 shares of Trevi Therapeutics stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $6.58, for a total value of $34,630.54. Following the sale, the chief executive officer now owns 213,313 shares in the company, valued at $1,403,599.54. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders own 24.37% of the company’s stock.

Trevi Therapeutics Stock Performance

NASDAQ:TRVI opened at $6.53 on Friday. Trevi Therapeutics, Inc. has a 1 year low of $2.30 and a 1 year high of $7.39. The stock has a market cap of $631.33 million, a P/E ratio of -14.84 and a beta of 0.90. The stock has a 50-day simple moving average of $4.81 and a 200-day simple moving average of $3.85.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings results on Tuesday, March 18th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. On average, equities research analysts predict that Trevi Therapeutics, Inc. will post -0.49 EPS for the current 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.