Trust Co. of Toledo Raises Stake in Trevi Therapeutics

Trust Co. of Toledo NA OH has increased its stake in Trevi Therapeutics, Inc. by 50.4% during the second quarter. The firm now owns 124,857 shares of the company’s stock, up from 83,000 shares previously. This increase in stake is valued at $298,000.
Other institutional investors and hedge funds have also made changes to their positions in Trevi Therapeutics. Vanguard Group Inc. increased its stake by 7.6% in the first quarter, while State Street Corp and Virtu Financial LLC acquired new stakes during the same period. FMR LLC also acquired a stake in the second quarter. Northern Trust Corp also increased its stake by 305.6% in the second quarter. Overall, 76.31% of the company’s stock is now owned by institutional investors and hedge funds.
Analysts at Needham & Company LLC have reiterated a “buy” rating on Trevi Therapeutics and have set a price target of $8.00 per share.
Trevi Therapeutics, Inc., traded on NASDAQ under the ticker symbol TRVI, reached a year-high of $3.50 and a year-low of $1.43. The stock currently trades at $2.35. The company recently reported earnings of ($0.07) per share for the quarter, beating analysts’ estimates by $0.02. For the full fiscal year, analysts project the company to post earnings per share of -0.33.
Trevi Therapeutics is a clinical-stage biopharmaceutical company engaged in the development and commercialization of Haduvio, a drug for the treatment of serious cough conditions targeting the central and peripheral nervous systems. The drug is an oral extended-release formulation of nalbuphine and is currently in a phase 2b/3 clinical trial for the treatment of chronic pruritus and chronic cough in patients with idiopathic pulmonary fibrosis.
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