Trevi Therapeutics, Inc. $TRVI Stock Holdings Raised by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 11.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,706,048 shares of the company’s stock after acquiring an additional 174,035 shares during the period. Pictet Asset Management Holding SA’s holdings in Trevi Therapeutics were worth $20,353,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of TRVI. Russell Investments Group Ltd. lifted its position in shares of Trevi Therapeutics by 194.5% during the second quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock worth $25,000 after purchasing an additional 2,996 shares during the last quarter. Hilton Head Capital Partners LLC bought a new stake in Trevi Therapeutics in the fourth quarter valued at about $40,000. Caitong International Asset Management Co. Ltd acquired a new stake in Trevi Therapeutics during the fourth quarter valued at approximately $50,000. Strs Ohio bought a new position in Trevi Therapeutics during the 1st quarter worth approximately $52,000. Finally, Rafferty Asset Management LLC bought a new position in Trevi Therapeutics during the 2nd quarter worth approximately $60,000. Institutional investors and hedge funds own 95.76% of the company’s stock.

Trevi Therapeutics Trading Down 5.6%

NASDAQ TRVI opened at $17.61 on Thursday. Trevi Therapeutics, Inc. has a 52 week low of $5.53 and a 52 week high of $19.26. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of -55.03 and a beta of 0.99. The company has a 50-day moving average price of $14.93 and a two-hundred day moving average price of $12.87.

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). As a group, equities research analysts expect that Trevi Therapeutics, Inc. will post -0.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on TRVI. Weiss Ratings reiterated a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Monday, April 20th. Wall Street Zen upgraded Trevi Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. HC Wainwright restated a “buy” rating and set a $21.00 price objective on shares of Trevi Therapeutics in a research note on Wednesday, May 6th. Needham & Company LLC reiterated a “buy” rating and set a $23.00 target price on shares of Trevi Therapeutics in a research note on Wednesday, May 20th. Finally, D. Boral Capital reissued a “buy” rating and set a $19.00 target price on shares of Trevi Therapeutics in a report on Friday, April 17th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $22.67.

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.