Bank of New York Mellon Corp Increases Holdings in Trevi Therapeutics, Inc. (NASDAQ:TRVI)

Bank of New York Mellon Corp increased its stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 38.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 178,511 shares of the company’s stock after purchasing an additional 49,884 shares during the period. Bank of New York Mellon Corp’s holdings in Trevi Therapeutics were worth $532,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in TRVI. Rosalind Advisors Inc. increased its position in shares of Trevi Therapeutics by 50.3% during the second quarter. Rosalind Advisors Inc. now owns 1,391,577 shares of the company’s stock valued at $4,147,000 after buying an additional 465,561 shares during the period. Opaleye Management Inc. grew its stake in Trevi Therapeutics by 4.3% during the first quarter. Opaleye Management Inc. now owns 2,645,000 shares of the company’s stock valued at $9,125,000 after acquiring an additional 110,000 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in Trevi Therapeutics during the 1st quarter worth approximately $47,000. Propel Bio Management LLC purchased a new stake in Trevi Therapeutics in the 1st quarter worth approximately $897,000. Finally, Vanguard Group Inc. boosted its holdings in Trevi Therapeutics by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 2,303,648 shares of the company’s stock valued at $7,948,000 after purchasing an additional 60,249 shares during the period. Institutional investors own 95.76% of the company’s stock.

Trevi Therapeutics Trading Down 4.1 %

TRVI opened at $3.30 on Tuesday. The stock has a market capitalization of $232.44 million, a P/E ratio of -9.71 and a beta of 0.96. The stock has a 50-day moving average price of $3.00 and a 200-day moving average price of $2.91. Trevi Therapeutics, Inc. has a 12-month low of $0.97 and a 12-month high of $4.00.

Trevi Therapeutics (NASDAQ:TRVI) last released its earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). During the same period in the prior year, the company posted ($0.07) earnings per share. On average, equities research analysts predict that Trevi Therapeutics, Inc. will post -0.47 EPS for the current year.

Insider Transactions at Trevi Therapeutics

In other Trevi Therapeutics news, CEO Jennifer L. Good sold 10,981 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $3.02, for a total value of $33,162.62. Following the completion of the sale, the chief executive officer now directly owns 213,313 shares of the company’s stock, valued at $644,205.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Jennifer L. Good sold 10,981 shares of Trevi Therapeutics stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $3.02, for a total value of $33,162.62. Following the transaction, the chief executive officer now owns 213,313 shares in the company, valued at $644,205.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Thomas Sciascia sold 18,660 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $2.76, for a total value of $51,501.60. Following the completion of the sale, the insider now directly owns 220,315 shares of the company’s stock, valued at approximately $608,069.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,355 shares of company stock worth $116,663. 24.37% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TRVI has been the topic of several research analyst reports. HC Wainwright assumed coverage on shares of Trevi Therapeutics in a report on Friday, August 30th. They issued a “buy” rating and a $6.00 price target on the stock. Leerink Partners started coverage on Trevi Therapeutics in a research note on Monday, September 9th. They issued an “outperform” rating and a $7.00 target price on the stock. EF Hutton Acquisition Co. I upgraded Trevi Therapeutics to a “strong-buy” rating in a research report on Monday, August 19th. Raymond James began coverage on shares of Trevi Therapeutics in a research report on Friday, August 30th. They issued an “outperform” rating and a $9.00 price objective on the stock. Finally, Rodman & Renshaw started coverage on shares of Trevi Therapeutics in a research report on Thursday, June 13th. They set a “buy” rating and a $7.00 target price for the company. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Trevi Therapeutics currently has an average rating of “Buy” and a consensus target price of $7.67.

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.