Geode Capital Management LLC Increases Stock Position in Trevi Therapeutics, Inc. (NASDAQ:TRVI)

Geode Capital Management LLC grew its stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 10.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,264,166 shares of the company's stock after acquiring an additional 117,418 shares during the period. Geode Capital Management LLC owned 1.64% of Trevi Therapeutics worth $4,223,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets lifted its stake in Trevi Therapeutics by 130.9% in the third quarter. BNP Paribas Financial Markets now owns 11,930 shares of the company's stock worth $40,000 after acquiring an additional 6,764 shares during the period. Hsbc Holdings PLC bought a new stake in shares of Trevi Therapeutics in the 2nd quarter valued at about $61,000. Intech Investment Management LLC purchased a new stake in shares of Trevi Therapeutics in the 3rd quarter worth approximately $63,000. The Manufacturers Life Insurance Company boosted its stake in shares of Trevi Therapeutics by 87.6% during the second quarter. The Manufacturers Life Insurance Company now owns 24,524 shares of the company's stock valued at $73,000 after purchasing an additional 11,450 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Trevi Therapeutics during the third quarter valued at approximately $78,000. 95.76% of the stock is owned by hedge funds and other institutional investors.

Trevi Therapeutics Stock Performance

NASDAQ TRVI traded down $0.27 during trading hours on Monday, reaching $4.32. The stock had a trading volume of 537,814 shares, compared to its average volume of 817,071. Trevi Therapeutics, Inc. has a 52-week low of $1.27 and a 52-week high of $4.68. The stock has a fifty day moving average of $3.31 and a 200 day moving average of $3.10. The stock has a market cap of $332.06 million, a P/E ratio of -9.82 and a beta of 0.87.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). During the same period in the previous year, the firm earned ($0.08) EPS. On average, equities research analysts forecast that Trevi Therapeutics, Inc. will post -0.49 EPS for the current year.

Analysts Set New Price Targets

TRVI has been the subject of several recent research reports. D. Boral Capital reissued a "buy" rating and issued a $21.00 price target on shares of Trevi Therapeutics in a research report on Thursday, December 12th. Leerink Partnrs raised shares of Trevi Therapeutics to a "strong-buy" rating in a research report on Monday, September 9th. B. Riley reissued a "buy" rating and issued a $6.00 price objective on shares of Trevi Therapeutics in a research report on Monday, October 7th. Leerink Partners began coverage on Trevi Therapeutics in a research note on Monday, September 9th. They set an "outperform" rating and a $7.00 target price on the stock. Finally, Needham & Company LLC restated a "buy" rating and set a $8.00 price objective on shares of Trevi Therapeutics in a report on Thursday, December 12th. Eight research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Trevi Therapeutics currently has a consensus rating of "Buy" and a consensus price target 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.