Renaissance Technologies LLC Trims Stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI)

Renaissance Technologies LLC reduced its stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 55.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 51,900 shares of the company’s stock after selling 64,942 shares during the quarter. Renaissance Technologies LLC’s holdings in Trevi Therapeutics were worth $155,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of TRVI. Oppenheimer & Co. Inc. purchased a new position in shares of Trevi Therapeutics during the 1st quarter valued at about $208,000. Vanguard Group Inc. boosted its position in shares of Trevi Therapeutics by 2.7% in the first quarter. Vanguard Group Inc. now owns 2,303,648 shares of the company’s stock worth $7,948,000 after purchasing an additional 60,249 shares during the period. Propel Bio Management LLC purchased a new stake in shares of Trevi Therapeutics in the first quarter worth $897,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Trevi Therapeutics during the 1st quarter valued at $47,000. Finally, Opaleye Management Inc. lifted its stake in shares of Trevi Therapeutics by 4.3% during the 1st quarter. Opaleye Management Inc. now owns 2,645,000 shares of the company’s stock valued at $9,125,000 after buying an additional 110,000 shares in the last quarter. 95.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Leerink Partnrs raised Trevi Therapeutics to a “strong-buy” rating in a report on Monday, September 9th. HC Wainwright initiated coverage on Trevi Therapeutics in a research note on Friday, August 30th. They set a “buy” rating and a $6.00 target price on the stock. Needham & Company LLC restated a “buy” rating and issued a $8.00 price target on shares of Trevi Therapeutics in a research note on Friday, October 4th. Leerink Partners initiated coverage on shares of Trevi Therapeutics in a research report on Monday, September 9th. They set an “outperform” rating and a $7.00 price objective on the stock. Finally, EF Hutton Acquisition Co. I upgraded shares of Trevi Therapeutics to a “strong-buy” rating in a research report on Monday, August 19th. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $7.43.

Insiders Place Their Bets

In other news, CEO Jennifer L. Good sold 10,981 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Thomas Sciascia sold 18,660 shares of Trevi Therapeutics stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $2.76, for a total transaction of $51,501.60. Following the completion of the transaction, the insider now directly owns 220,315 shares of the company’s stock, valued at approximately $608,069.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jennifer L. Good sold 10,981 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $3.02, for a total transaction of $33,162.62. Following the completion of the sale, the chief executive officer now directly owns 213,313 shares in the company, valued at $644,205.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,355 shares of company stock valued at $116,663 over the last ninety days. 24.37% of the stock is owned by insiders.

Trevi Therapeutics Stock Up 4.0 %

Trevi Therapeutics stock opened at $3.12 on Monday. Trevi Therapeutics, Inc. has a 52-week low of $0.97 and a 52-week high of $4.00. The firm’s fifty day moving average is $3.03 and its 200 day moving average is $2.89. The company has a market cap of $226.48 million, a price-to-earnings ratio of -8.00 and a beta of 0.97.

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

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.