Flputnam Investment Management Co. Acquires Shares of 1,038,057 Trevi Therapeutics, Inc. $TRVI

Flputnam Investment Management Co. purchased a new stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) in the second quarter, Holdings Channel reports. The firm purchased 1,038,057 shares of the company’s stock, valued at approximately $19,360,000.

Other large investors have also bought and sold shares of the company. KBC Group NV bought a new stake in Trevi Therapeutics in the 1st quarter valued at about $29,000. Hilton Head Capital Partners LLC purchased a new stake in Trevi Therapeutics during the 4th quarter worth about $40,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Trevi Therapeutics in the fourth quarter worth about $50,000. Russell Investments Group Ltd. boosted its holdings in 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 during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Trevi Therapeutics by 32.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,231 shares of the company’s stock valued at $78,000 after purchasing an additional 1,523 shares in the last quarter. 95.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on TRVI. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price target on shares of Trevi Therapeutics in a report on Wednesday, May 20th. BMO Capital Markets initiated coverage on shares of Trevi Therapeutics in a research report on Monday, July 20th. They issued an “outperform” rating and a $36.00 target price on the stock. Cantor Fitzgerald boosted their price objective on Trevi Therapeutics from $25.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Oppenheimer upped their price objective on shares of Trevi Therapeutics from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Finally, Wall Street Zen downgraded Trevi Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $27.08.

Trevi Therapeutics Price Performance

NASDAQ:TRVI opened at $18.46 on Monday. The company has a market capitalization of $2.63 billion, a PE ratio of -54.29 and a beta of 1.03. Trevi Therapeutics, Inc. has a 1-year low of $6.93 and a 1-year high of $20.22. The firm’s 50-day moving average price is $17.41 and its 200-day moving average price is $14.29.

Trevi Therapeutics (NASDAQ:TRVI) last announced its earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). Equities analysts anticipate that Trevi Therapeutics, Inc. will post -0.48 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.