Siren L.L.C. Sells 500,000 Shares of Trevi Therapeutics, Inc. $TRVI

Siren L.L.C. lessened its holdings in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 21.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,786,867 shares of the company’s stock after selling 500,000 shares during the period. Siren L.L.C.’s holdings in Trevi Therapeutics were worth $21,317,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. AlphaCentric Advisors LLC grew its stake in shares of Trevi Therapeutics by 5.7% during the first quarter. AlphaCentric Advisors LLC now owns 23,970 shares of the company’s stock valued at $286,000 after buying an additional 1,303 shares during the last quarter. KBC Group NV bought a new stake in shares of Trevi Therapeutics during the 1st quarter worth approximately $29,000. Fifth Third Bancorp purchased a new position in Trevi Therapeutics during the 1st quarter valued at $1,531,000. Candriam S.C.A. purchased a new position in Trevi Therapeutics during the 1st quarter valued at $9,229,000. Finally, Hsbc Holdings PLC purchased a new position in Trevi Therapeutics during the 1st quarter valued at $205,000. Institutional investors own 95.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TRVI. Morgan Stanley reiterated an “overweight” rating and issued a $20.00 target price on shares of Trevi Therapeutics in a research note on Wednesday, May 6th. B. Riley Financial boosted their target price on shares of Trevi Therapeutics from $21.00 to $31.00 and gave the company a “buy” rating in a research note on Monday. Wall Street Zen raised shares of Trevi Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Stifel Nicolaus set a $30.00 price target on shares of Trevi Therapeutics in a report on Friday, May 8th. Finally, HC Wainwright raised their price target on shares of Trevi Therapeutics from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday. Two research 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. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $24.91.

Trevi Therapeutics Stock Down 1.0%

Shares of NASDAQ:TRVI opened at $17.18 on Friday. Trevi Therapeutics, Inc. has a 52-week low of $6.55 and a 52-week high of $20.22. The stock has a market cap of $2.44 billion, a P/E ratio of -53.69 and a beta of 1.00. The business’s 50 day moving average is $16.04 and its 200 day moving average is $13.47.

Trevi Therapeutics (NASDAQ:TRVI) last issued its 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, sell-side analysts anticipate that Trevi Therapeutics, Inc. will post -0.47 EPS 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.