Checkpoint Capital L.P. Decreases Stock Holdings in Trevi Therapeutics, Inc. (NASDAQ:TRVI)

Checkpoint Capital L.P. cut its stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 50.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 250,000 shares of the company’s stock after selling 250,089 shares during the period. Trevi Therapeutics makes up approximately 0.4% of Checkpoint Capital L.P.’s holdings, making the stock its 15th largest holding. Checkpoint Capital L.P. owned about 0.33% of Trevi Therapeutics worth $835,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TRVI. Logos Global Management LP increased its stake in Trevi Therapeutics by 27.3% in the 2nd quarter. Logos Global Management LP now owns 2,800,000 shares of the company’s stock valued at $8,344,000 after purchasing an additional 600,000 shares in the last quarter. Vanguard Group Inc. increased 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 valued at $7,948,000 after buying an additional 60,249 shares in the last quarter. Ally Bridge Group NY LLC purchased a new position in shares of Trevi Therapeutics in the second quarter valued at $4,395,000. Rosalind Advisors Inc. raised its stake in shares of Trevi Therapeutics by 50.3% during the 2nd quarter. Rosalind Advisors Inc. now owns 1,391,577 shares of the company’s stock worth $4,147,000 after buying an additional 465,561 shares during the last quarter. Finally, MAI Capital Management grew its stake in Trevi Therapeutics by 0.7% in the 3rd quarter. MAI Capital Management now owns 1,327,285 shares of the company’s stock valued at $4,433,000 after acquiring an additional 8,789 shares during the last quarter. 95.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TRVI has been the topic of several recent research reports. EF Hutton Acquisition Co. I raised shares of Trevi Therapeutics to a “strong-buy” rating in a report on Monday, August 19th. HC Wainwright reissued a “buy” rating and set a $6.00 price target on shares of Trevi Therapeutics in a research report on Tuesday, October 22nd. Needham & Company LLC restated a “buy” rating and issued a $8.00 price objective on shares of Trevi Therapeutics in a research report on Friday, November 8th. Raymond James assumed coverage on Trevi Therapeutics in a research report on Friday, August 30th. They set an “outperform” rating and a $9.00 price objective for the company. Finally, Leerink Partnrs upgraded shares of Trevi Therapeutics to a “strong-buy” rating in a report on Monday, September 9th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $7.43.

Trevi Therapeutics Trading Up 2.1 %

Shares of NASDAQ:TRVI opened at $2.88 on Monday. The firm has a market cap of $221.37 million, a price-to-earnings ratio of -6.55 and a beta of 1.01. The stock’s 50-day moving average price is $3.04 and its two-hundred day moving average price is $2.91. Trevi Therapeutics, Inc. has a 12-month low of $1.00 and a 12-month high of $4.00.

Trevi Therapeutics (NASDAQ:TRVI) last released its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). During the same quarter in the previous year, the firm posted ($0.08) EPS. As a group, research analysts forecast that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jennifer L. Good sold 10,981 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 213,313 shares of the company’s stock, valued at approximately $644,205.26. This trade represents a 4.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 17,040 shares of company stock valued at $51,540 in the last ninety days. Company insiders own 24.37% of the company’s stock.

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.