Fifth Third Bancorp Purchases Shares of 128,325 Trevi Therapeutics, Inc. $TRVI

Fifth Third Bancorp acquired a new position in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) in the first quarter, HoldingsChannel.com reports. The firm acquired 128,325 shares of the company’s stock, valued at approximately $1,531,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Alliancebernstein L.P. raised its position in shares of Trevi Therapeutics by 19,064.5% in the second quarter. Alliancebernstein L.P. now owns 4,281,355 shares of the company’s stock valued at $23,419,000 after purchasing an additional 4,259,015 shares during the period. Rubric Capital Management LP boosted its holdings in shares of Trevi Therapeutics by 88.0% during the 2nd quarter. Rubric Capital Management LP now owns 8,531,860 shares of the company’s stock worth $46,669,000 after buying an additional 3,993,325 shares during the period. Viking Global Investors LP raised its holdings in Trevi Therapeutics by 232.4% in the 3rd quarter. Viking Global Investors LP now owns 5,128,875 shares of the company’s stock valued at $46,929,000 after acquiring an additional 3,585,875 shares during the period. Wellington Management Group LLP raised its holdings in Trevi Therapeutics by 1,792.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,253,888 shares of the company’s stock valued at $29,773,000 after acquiring an additional 3,081,906 shares during the period. Finally, Marshall Wace LLP lifted its position in Trevi Therapeutics by 95.4% during the third quarter. Marshall Wace LLP now owns 4,841,751 shares of the company’s stock worth $44,302,000 after acquiring an additional 2,363,835 shares during the last quarter. 95.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TRVI has been the subject of a number of research analyst reports. HC Wainwright boosted their price objective on Trevi Therapeutics from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Monday. B. Riley Financial lifted their price target on Trevi Therapeutics from $21.00 to $31.00 and gave the stock a “buy” rating in a report on Monday. BMO Capital Markets assumed coverage on Trevi Therapeutics in a research note on Monday. They issued an “outperform” rating and a $36.00 price target for the company. Stifel Nicolaus set a $30.00 price objective on Trevi Therapeutics in a report on Friday, May 8th. Finally, Weiss Ratings reiterated 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 given a Sell rating to the company’s stock. According to data from MarketBeat, Trevi Therapeutics has an average rating of “Buy” and a consensus target price of $24.91.

Trevi Therapeutics Trading Down 1.0%

Shares of TRVI opened at $17.18 on Friday. Trevi Therapeutics, Inc. has a 12 month low of $6.55 and a 12 month high of $20.22. The firm’s 50 day moving average is $16.04 and its 200-day moving average is $13.47. The stock has a market capitalization of $2.44 billion, a PE ratio of -53.69 and a beta of 1.00.

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

Trevi Therapeutics Company 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.