Opaleye Management Inc. Sells 35,100 Shares of Trevi Therapeutics, Inc. $TRVI

Opaleye Management Inc. cut its position in Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 10.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 310,000 shares of the company’s stock after selling 35,100 shares during the quarter. Opaleye Management Inc. owned about 0.22% of Trevi Therapeutics worth $5,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of TRVI. BlackRock Inc. purchased a new stake in shares of Trevi Therapeutics in the second quarter worth $208,041,000. Rubric Capital Management LP grew its position in Trevi Therapeutics by 88.0% during the second 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 in the last quarter. Vanguard Group Inc. increased its stake in Trevi Therapeutics by 10.4% in the 4th quarter. Vanguard Group Inc. now owns 6,434,655 shares of the company’s stock worth $80,562,000 after acquiring an additional 607,669 shares during the last quarter. Wellington Management Group LLP increased its stake in Trevi Therapeutics by 9.5% in the 2nd quarter. Wellington Management Group LLP now owns 5,684,592 shares of the company’s stock worth $106,018,000 after acquiring an additional 495,504 shares during the last quarter. Finally, Viking Global Investors LP raised its holdings in shares of 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 in the last quarter. 95.76% of the stock is owned by institutional investors.

Trevi Therapeutics Stock Performance

Shares of Trevi Therapeutics stock opened at $15.91 on Friday. Trevi Therapeutics, Inc. has a 52-week low of $7.64 and a 52-week high of $20.22. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of -46.79 and a beta of 1.04. The company has a fifty day moving average of $17.84 and a 200-day moving average of $15.19.

Trevi Therapeutics (NASDAQ:TRVI) last issued its earnings results on Thursday, August 6th. The company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). On average, equities research analysts forecast that Trevi Therapeutics, Inc. will post -0.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TRVI shares. Oppenheimer raised their target price 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. Morgan Stanley reissued an “overweight” rating and issued a $23.00 price target on shares of Trevi Therapeutics in a report on Friday, August 7th. HC Wainwright raised their price objective on shares of Trevi Therapeutics from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Trevi Therapeutics in a report on Friday, July 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $23.00 target price on shares of Trevi Therapeutics in a research report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Trevi Therapeutics currently has an average rating of “Buy” and a consensus price target of $27.08.

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.