The Manufacturers Life Insurance Company Invests $925,000 in Trevi Therapeutics, Inc. $TRVI

by · The Markets Daily

The Manufacturers Life Insurance Company acquired a new stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 49,611 shares of the company’s stock, valued at approximately $925,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Trevi Therapeutics during the 2nd quarter worth $208,041,000. Rubric Capital Management LP raised its position in Trevi Therapeutics by 88.0% in the 2nd quarter. Rubric Capital Management LP now owns 8,531,860 shares of the company’s stock valued at $46,669,000 after purchasing an additional 3,993,325 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Trevi Therapeutics by 10.4% in the 4th quarter. Vanguard Group Inc. now owns 6,434,655 shares of the company’s stock valued at $80,562,000 after buying an additional 607,669 shares during the period. Viking Global Investors LP grew its position in shares of Trevi Therapeutics by 232.4% during the third quarter. Viking Global Investors LP now owns 5,128,875 shares of the company’s stock worth $46,929,000 after buying an additional 3,585,875 shares in the last quarter. Finally, Vivo Capital LLC grew its position in shares of Trevi Therapeutics by 13.5% during the third quarter. Vivo Capital LLC now owns 5,094,668 shares of the company’s stock worth $46,616,000 after buying an additional 606,765 shares in the last quarter. 95.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TRVI has been the subject of a number of recent research reports. BMO Capital Markets started coverage on shares of Trevi Therapeutics in a research note on Monday, July 20th. They issued an “outperform” rating and a $36.00 price target for the company. Morgan Stanley reiterated an “overweight” rating and set a $23.00 price target on shares of Trevi Therapeutics in a report on Friday, August 7th. JonesTrading increased their price objective on shares of Trevi Therapeutics from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Needham & Company LLC restated a “buy” rating and issued a $23.00 price objective on shares of Trevi Therapeutics in a report on Wednesday, May 20th. Finally, B. Riley Financial lifted their price objective on shares of Trevi Therapeutics from $21.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Trevi Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $27.08.

Get Our Latest Stock Analysis on TRVI

Trevi Therapeutics Stock Performance

TRVI opened at $17.26 on Friday. Trevi Therapeutics, Inc. has a one year low of $6.93 and a one year high of $20.22. The company has a market cap of $2.46 billion, a P/E ratio of -50.76 and a beta of 1.04. The business’s 50-day simple moving average is $17.96 and its 200-day simple moving average is $14.98.

Trevi Therapeutics (NASDAQ:TRVI – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). As a group, analysts predict that Trevi Therapeutics, Inc. will post -0.48 earnings per share for the current fiscal year.

Trevi Therapeutics Profile

(Free Report)

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.

See Also