State Street Corp Buys 53,051 Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI)

State Street Corp boosted its stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 5.9% during the third quarter, HoldingsChannel reports. The firm owned 952,912 shares of the company’s stock after buying an additional 53,051 shares during the period. State Street Corp’s holdings in Trevi Therapeutics were worth $3,183,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TRVI. BNP Paribas Financial Markets increased its holdings in shares of Trevi Therapeutics by 130.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,930 shares of the company’s stock worth $40,000 after buying an additional 6,764 shares during the last quarter. American Century Companies Inc. increased its stake in Trevi Therapeutics by 17.1% in the second quarter. American Century Companies Inc. now owns 54,108 shares of the company’s stock valued at $161,000 after acquiring an additional 7,902 shares during the last quarter. MAI Capital Management increased its stake in Trevi Therapeutics by 0.7% in the third quarter. MAI Capital Management now owns 1,327,285 shares of the company’s stock valued at $4,433,000 after acquiring an additional 8,789 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Trevi Therapeutics by 87.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,524 shares of the company’s stock worth $73,000 after purchasing an additional 11,450 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Trevi Therapeutics in the 3rd quarter worth about $63,000. 95.76% of the stock is owned by hedge funds and other institutional investors.

Trevi Therapeutics Price Performance

TRVI stock opened at $4.10 on Tuesday. The firm has a 50-day moving average of $3.22 and a 200 day moving average of $3.05. The company has a market cap of $315.15 million, a P/E ratio of -9.32 and a beta of 0.96. Trevi Therapeutics, Inc. has a 1 year low of $1.27 and a 1 year high of $4.68.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). During the same quarter in the prior year, the company posted ($0.08) earnings per share. On average, equities research analysts expect that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on TRVI shares. HC Wainwright upped their target price on Trevi Therapeutics from $6.00 to $7.50 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Leerink Partnrs upgraded shares of Trevi Therapeutics to a “strong-buy” rating in a research report on Monday, September 9th. Needham & Company LLC restated a “buy” rating and set a $8.00 price target on shares of Trevi Therapeutics in a research report on Thursday, December 12th. B. Riley reaffirmed a “buy” rating and set a $6.00 price objective on shares of Trevi Therapeutics in a research note on Monday, October 7th. Finally, Leerink Partners assumed coverage on Trevi Therapeutics in a research report on Monday, September 9th. They set an “outperform” rating and a $7.00 price target on the stock. Eight equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Trevi Therapeutics currently has a consensus rating of “Buy” and an average target price of $9.31.

Trevi Therapeutics Profile

Trevi Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapy Haduvio for the treatment of chronic cough in idiopathic pulmonary fibrosis (IPF) and refractory chronic cough (RCC) conditions targeting the central and peripheral nervous systems.