Vivo Capital LLC Acquires 1,875,000 Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI)

Vivo Capital LLC grew its position in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 116.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,487,903 shares of the company's stock after purchasing an additional 1,875,000 shares during the quarter. Trevi Therapeutics makes up 1.6% of Vivo Capital LLC's investment portfolio, making the stock its 12th largest position. Vivo Capital LLC owned approximately 4.54% of Trevi Therapeutics worth $14,370,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Summit Investment Advisors Inc. raised its stake in Trevi Therapeutics by 84.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company's stock valued at $26,000 after buying an additional 2,894 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Trevi Therapeutics by 2.1% during the 4th quarter. Bank of New York Mellon Corp now owns 140,219 shares of the company's stock worth $578,000 after acquiring an additional 2,935 shares in the last quarter. SG Americas Securities LLC lifted its stake in Trevi Therapeutics by 14.5% during the fourth quarter. SG Americas Securities LLC now owns 26,792 shares of the company's stock worth $110,000 after purchasing an additional 3,387 shares during the last quarter. Invesco Ltd. boosted its holdings in Trevi Therapeutics by 21.2% in the fourth quarter. Invesco Ltd. now owns 23,621 shares of the company's stock valued at $97,000 after purchasing an additional 4,133 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Trevi Therapeutics by 40.7% in the fourth quarter. Wells Fargo & Company MN now owns 33,050 shares of the company's stock valued at $136,000 after purchasing an additional 9,562 shares during the last quarter. 95.76% of the stock is owned by hedge funds and other institutional investors.

Trevi Therapeutics Trading Up 1.9 %

NASDAQ:TRVI traded up $0.12 during mid-day trading on Friday, hitting $6.47. The company had a trading volume of 1,149,945 shares, compared to its average volume of 1,110,844. The business has a fifty day simple moving average of $5.71 and a 200-day simple moving average of $4.27. The firm has a market capitalization of $625.53 million, a price-to-earnings ratio of -14.70 and a beta of 0.41. Trevi Therapeutics, Inc. has a 1 year low of $2.30 and a 1 year high of $7.39.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last issued its quarterly earnings results on Tuesday, March 18th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.12) by $0.01. As a group, research analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current year.

Insider Transactions at Trevi Therapeutics

In other news, CEO Jennifer L. Good sold 5,263 shares of the firm's stock in a transaction on Friday, March 21st. The stock was 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 directly owns 213,313 shares of the company's stock, valued at $1,403,599.54. This trade represents a 2.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Farrell Simon sold 81,313 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $6.75, for a total value of $548,862.75. Following the completion of the transaction, the insider now owns 76,900 shares of the company's stock, valued at $519,075. This trade represents a 51.39 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 24.37% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Needham & Company LLC restated a "buy" rating and issued a $24.00 target price on shares of Trevi Therapeutics in a report on Tuesday, April 8th. D. Boral Capital restated a "buy" rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. B. Riley reaffirmed a "buy" rating and set a $20.00 price objective (up previously from $11.00) on shares of Trevi Therapeutics in a report on Wednesday, March 19th. HC Wainwright reissued a "buy" rating and issued a $12.50 target price on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Finally, Oppenheimer raised their price target on Trevi Therapeutics from $12.00 to $20.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 11th. Seven analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $17.56.

About Trevi Therapeutics

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.