Erste Asset Management GmbH Takes Position in Trevi Therapeutics, Inc. $TRVI

Erste Asset Management GmbH bought a new stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 90,000 shares of the company’s stock, valued at approximately $1,154,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. increased its holdings in Trevi Therapeutics by 4.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 21,346 shares of the company’s stock valued at $195,000 after acquiring an additional 911 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Trevi Therapeutics by 20.5% during the third quarter. Ameritas Investment Partners Inc. now owns 7,632 shares of the company’s stock worth $70,000 after buying an additional 1,300 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Trevi Therapeutics by 32.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,231 shares of the company’s stock worth $78,000 after buying an additional 1,523 shares in the last quarter. BIT Capital GmbH grew its holdings in shares of Trevi Therapeutics by 32.0% during the third quarter. BIT Capital GmbH now owns 6,739 shares of the company’s stock worth $62,000 after buying an additional 1,633 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in shares of Trevi Therapeutics by 2.1% during the fourth quarter. Oppenheimer & Co. Inc. now owns 100,698 shares of the company’s stock worth $1,261,000 after buying an additional 2,030 shares in the last quarter. 95.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on TRVI shares. Wall Street Zen downgraded shares of Trevi Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price target on shares of Trevi Therapeutics in a report on Wednesday, May 20th. Morgan Stanley reissued an “overweight” rating and issued a $20.00 target price on shares of Trevi Therapeutics in a research report on Wednesday, May 6th. D. Boral Capital reissued a “buy” rating and issued a $19.00 target price on shares of Trevi Therapeutics in a research report on Friday, April 17th. Finally, Oppenheimer reissued an “outperform” rating on shares of Trevi Therapeutics in a research report on Monday, March 9th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $22.90.

Trevi Therapeutics Stock Down 1.4%

Shares of TRVI stock opened at $13.40 on Thursday. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -41.88 and a beta of 1.04. Trevi Therapeutics, Inc. has a fifty-two week low of $5.41 and a fifty-two week high of $16.12. The firm’s 50 day moving average price is $13.88 and its two-hundred day moving average price is $12.46.

Trevi Therapeutics (NASDAQ:TRVI) last announced 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). On average, equities analysts forecast that Trevi Therapeutics, Inc. will post -0.47 EPS 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.