Charles Schwab Investment Management Inc. Buys 22,145 Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI)

Charles Schwab Investment Management Inc. grew its stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 14.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 173,063 shares of the company’s stock after acquiring an additional 22,145 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Trevi Therapeutics were worth $713,000 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 the company. Geode Capital Management LLC raised its stake in shares of Trevi Therapeutics by 10.2% during the third quarter. Geode Capital Management LLC now owns 1,264,166 shares of the company’s stock valued at $4,223,000 after acquiring an additional 117,418 shares during the last quarter. Fred Alger Management LLC acquired a new position in shares of Trevi Therapeutics in the 3rd quarter valued at about $256,000. JPMorgan Chase & Co. grew its position in shares of Trevi Therapeutics by 220.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 100,517 shares of the company’s stock worth $336,000 after buying an additional 69,167 shares during the period. Barclays PLC grew its holdings in Trevi Therapeutics by 180.8% in the third quarter. Barclays PLC now owns 95,232 shares of the company’s stock worth $319,000 after purchasing an additional 61,317 shares during the period. Finally, State Street Corp grew its stake in shares of Trevi Therapeutics by 5.9% in the 3rd quarter. State Street Corp now owns 952,912 shares of the company’s stock valued at $3,183,000 after buying an additional 53,051 shares during the period. Institutional investors and hedge funds own 95.76% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jennifer L. Good sold 5,263 shares of the firm’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $6.58, for a total transaction of $34,630.54. Following the completion of the sale, the chief executive officer now owns 213,313 shares in the company, valued at approximately $1,403,599.54. This trade represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Farrell Simon sold 81,313 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $6.75, for a total transaction of $548,862.75. Following the completion of the transaction, the insider now owns 76,900 shares in the company, valued at approximately $519,075. The trade was a 51.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.37% of the stock is currently owned by corporate insiders.

Trevi Therapeutics Stock Performance

Trevi Therapeutics stock opened at $6.29 on Tuesday. Trevi Therapeutics, Inc. has a fifty-two week low of $2.30 and a fifty-two week high of $7.39. The firm’s 50-day simple moving average is $4.92 and its 200 day simple moving average is $3.90. The stock has a market cap of $608.13 million, a PE ratio of -14.30 and a beta of 0.90.

Trevi Therapeutics (NASDAQ:TRVI) last posted its earnings results on Tuesday, March 18th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.01. As a group, analysts predict that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal year.

Analysts Set New Price Targets

TRVI has been the topic of several recent research reports. B. Riley reiterated a “buy” rating and issued a $20.00 price target (up previously from $11.00) on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Oppenheimer lifted their price target on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday, March 11th. Raymond James raised shares of Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $9.00 to $29.00 in a research note on Monday, March 10th. Needham & Company LLC decreased their target price on shares of Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Finally, D. Boral Capital restated a “buy” rating and issued a $21.00 target price on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Seven research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $17.56.

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.