Candriam S.C.A. Purchases Shares of 773,620 Trevi Therapeutics, Inc. $TRVI

Candriam S.C.A. purchased a new position in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 773,620 shares of the company’s stock, valued at approximately $9,229,000. Candriam S.C.A. owned about 0.60% of Trevi Therapeutics at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Russell Investments Group Ltd. lifted its stake 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 valued at $25,000 after purchasing an additional 2,996 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new stake in Trevi Therapeutics during the 4th quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd acquired a new stake in Trevi Therapeutics during the 4th quarter worth approximately $50,000. Strs Ohio purchased a new position in Trevi Therapeutics in the first quarter valued at approximately $52,000. Finally, Rafferty Asset Management LLC purchased a new position in Trevi Therapeutics in the second quarter valued at approximately $60,000. 95.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TRVI has been the subject of several research reports. HC Wainwright reiterated a “buy” rating and set a $21.00 price objective on shares of Trevi Therapeutics in a research note on Wednesday, May 6th. D. Boral Capital reissued a “buy” rating and issued a $19.00 price objective on shares of Trevi Therapeutics in a research report on Friday, April 17th. JonesTrading cut their target price on shares of Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, March 19th. Needham & Company LLC restated a “buy” rating and set a $23.00 target price on shares of Trevi Therapeutics in a report on Wednesday, May 20th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $20.00 price target on shares of Trevi Therapeutics in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Trevi Therapeutics has an average rating of “Buy” and a consensus price target of $22.67.

Trevi Therapeutics Price Performance

TRVI opened at $17.84 on Monday. The firm’s 50 day moving average is $15.49 and its 200-day moving average is $13.16. Trevi Therapeutics, Inc. has a 52-week low of $6.24 and a 52-week high of $20.15. The firm has a market capitalization of $2.53 billion, a P/E ratio of -55.75 and a beta of 1.00.

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

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.