TRVINasdaqPharmaceutical PreparationsFiscal year ends December 31
Trevi Therapeutics, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$11.90+0.02 (+0.17%)
Close on Oct 19, 2026
- Market cap
- $1.86B
- P/E (TTM)
- –
- Dividend yield
- –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
100.0%
151M of 142M shares
Institutional holders
218
43 new, 20 sold out
Net institutional buying
16M
In Q2 2026
Insider trades, 12 months
0 buys · 4 sales
Net sold $595.81K
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Ott David C. | 9,190,486 | 8.70% | 13G (passive) amendment | Mar 31, 2025 |
| Rubric Capital Management LP | 8,531,860 | 7.12% | 13G (passive) | Jun 30, 2025 |
| Fhmlsp, L.L.C. | 8,508,021 | 7.00% | 13G (passive) amendment | Sep 30, 2025 |
| BlackRock, Inc. | 6,804,338 | 5.60% | 13G (passive) | Sep 30, 2025 |
| Mohamad H. Makhzoumi | 15,074,080 | 11.60% | 13D (active) amendment | Aug 7, 2025 |
| Ali Behbahani | 15,074,080 | 10.50% | 13D (active) amendment | May 5, 2026 |
| Abigail P. Johnson | 12,562,839 | 8.80% | 13G (passive) amendment | Jun 30, 2026 |
| Patrick J. Heron | 10,259,409 | 10.60% | 13G (passive) amendment | Mar 31, 2025 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of TRVI | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| NEA Management Company, LLC | 13,222,228 | 9.28% | $246.59M | – | 15.53% |
| FMR LLC | 12,562,839 | 8.82% | $234.30M | +4,524,778 | 0.01% |
| BlackRock, Inc. | 11,155,026 | 7.83% | $208.04M | +914,840 | 0.00% |
| Frazier Life Sciences Management, L.P. | 9,939,447 | 6.98% | $185.37M | −100 | 4.04% |
| Wellington Management Group Llp | 5,684,592 | 3.99% | $106.02M | +495,504 | 0.02% |
| Vanguard Capital Management LLC | 5,530,675 | 3.88% | $103.15M | +552,108 | 0.00% |
| Vivo Capital, LLC | 5,094,668 | 3.58% | $95.02M | – | 8.68% |
| Woodline Partners LP | 4,081,333 | 2.86% | $76.12M | +3,080,551 | 0.24% |
| Vestal Point Capital, LP | 3,100,000 | 2.18% | $57.82M | +933,496 | 1.35% |
| Mpm Bioimpact LLC | 3,073,577 | 2.16% | $57.32M | −224,853 | 3.50% |
| Frontier Capital Management Co LLC | 3,070,740 | 2.16% | $57.27M | +1,076,448 | 0.53% |
| Assenagon Asset Management S.A. | 3,050,628 | 2.14% | $56.89M | New | 0.04% |
| State Street Corp | 3,027,315 | 2.12% | $56.46M | +362,002 | 0.00% |
| Geode Capital Management, LLC | 2,928,068 | 2.06% | $54.62M | +149,837 | 0.00% |
| Marshall Wace, Llp | 2,674,137 | 1.88% | $49.87M | −1,291,882 | 0.04% |
| Eventide Asset Management, LLC | 2,660,000 | 1.87% | $49.61M | +37,694 | 0.66% |
| Rubric Capital Management LP | 2,504,513 | 1.76% | $46.71M | −1,207,860 | 0.43% |
| Alliancebernstein L.P. | 2,355,453 | 1.65% | $28.10M | −490,019 | 0.01% |
| Artia Global Partners LP | 2,210,852 | 1.55% | $41.23M | +197,250 | 7.61% |
| Acorn Capital Advisors, LLC | 2,144,844 | 1.51% | $40.00M | – | 10.92% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 218 | 151M | 100.0% | 43 / 89 | 60 / 20 | 28M | 13M |
| Q1 2026 | 198 | 135M | 94.7% | 41 / 65 | 62 / 25 | 22M | 10M |
| Q4 2025 | 184 | 130M | 91.5% | 34 / 74 | 49 / 14 | 19M | 18M |
| Q3 2025 | 164 | 129M | 90.8% | 35 / 65 | 42 / 23 | 30M | 17M |
| Q2 2025 | 153 | 115M | 81.1% | 39 / 64 | 32 / 23 | 40M | 13M |
| Q1 2025 | 137 | 88M | 61.9% | 42 / 54 | 31 / 14 | 23M | 14M |
| Q4 2024 | 110 | 79M | 55.8% | 26 / 47 | 24 / 7 | 27M | 6M |
| Q3 2024 | 93 | 58M | 40.9% | 19 / 31 | 19 / 2 | 8M | 5M |
| Q2 2024 | 77 | 59M | 41.2% | 6 / 36 | 16 / 9 | 8M | 1M |
| Q1 2024 | 80 | 52M | 36.3% | 22 / 16 | 27 / 5 | 5M | 6M |
| Q4 2023 | 63 | 52M | 36.8% | 12 / 27 | 13 / 4 | 9M | 6M |
| Q3 2023 | 55 | 49M | 34.2% | 6 / 13 | 17 / 4 | 0M | 0M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of TRVI | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Total Stock Market Index Fund | 4,047,125 | 2.84% | $75.48M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 2,750,819 | 1.93% | $51.30M | 0.06% | Jun 30, 2026 |
| Eventide Healthcare & Life Sciences Fund | 2,660,000 | 1.87% | $49.61M | 2.77% | Jun 30, 2026 |
| Select Biotechnology Portfolio | 2,374,785 | 1.67% | $33.58M | 0.64% | May 31, 2026 |
| Fidelity Small Cap Growth Fund | 1,950,341 | 1.37% | $35.59M | 0.40% | Jul 31, 2026 |
| Vanguard Extended Market Index Fund | 1,353,312 | 0.95% | $25.24M | 0.03% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 1,172,697 | 0.82% | $21.40M | 0.06% | Jul 31, 2026 |
| Fidelity Growth Company Fund | 1,040,299 | 0.73% | $14.71M | 0.01% | May 31, 2026 |
| AB Small Cap Growth Portfolio | 1,034,886 | 0.73% | $19.30M | 0.62% | Jun 30, 2026 |
| Select Health Care Portfolio | 1,000,000 | 0.70% | $14.14M | 0.24% | May 31, 2026 |
| Fidelity Small Cap Growth K6 Fund | 990,061 | 0.69% | $18.07M | 0.39% | Jul 31, 2026 |
| iShares Russell 2000 Growth ETF | 989,279 | 0.69% | $18.45M | 0.12% | Jun 30, 2026 |
| SmallCap Growth Fund I | 776,604 | 0.55% | $14.17M | 0.57% | Jul 31, 2026 |
| VIP Mid Cap Portfolio | 764,700 | 0.54% | $14.26M | 0.15% | Jun 30, 2026 |
| iShares Biotechnology ETF | 658,159 | 0.46% | $12.27M | 0.14% | Jun 30, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Jennifer L. Good | President & CEO, Director | 213,313 | 0.15% | Feb 20, 2026 |
| Farrell Simon | Chief Commercial Officer | 81,250 | 0.06% | Feb 20, 2026 |
| Christopher Galletta | See Remarks | 26,095 | 0.02% | Feb 20, 2026 |
| Thomas Sciascia | Chief Scientific Officer | 224,004 | 0.16% | Feb 20, 2026 |
| James V. Cassella | Chief Development Officer | – | – | Feb 20, 2026 |
| David C. Hastings | Chief Financial Officer | – | – | Jan 12, 2026 |
| Lisa Delfini | Chief Financial Officer | 64,660 | 0.05% | Jun 3, 2025 |
| Michael Thomas Heffernan | Director | 6,351 | 0.00% | Sep 17, 2026 |
| Anne Vanlent | Director | 20,983 | 0.01% | Jun 4, 2026 |
| Dominick Colangelo | Director | – | – | Jun 4, 2026 |
| Edward T. Mathers | Director | 948,948 | 0.67% | Jun 4, 2026 |
| David P. Meeker | Director | 1,021,696 | 0.72% | Jun 4, 2026 |
| Carmen Chang | 10% owner | 13,222,228 | 9.28% | Feb 13, 2026 |
| Paul Edward Walker | 10% owner | 13,222,228 | 9.28% | Feb 13, 2026 |
| Scott D. Sandell | 10% owner | 13,222,228 | 9.28% | Feb 13, 2026 |
| Mohamad Makhzoumi | 10% owner | 13,222,228 | 9.28% | Feb 13, 2026 |
| Anthony A. Florence Jr. | 10% owner | 13,222,228 | 9.28% | Feb 13, 2026 |
| Ali Behbahani | 10% owner | 13,222,228 | 9.28% | Feb 13, 2026 |
| Forest Baskett | 10% owner | 12,273,280 | 8.61% | Feb 13, 2026 |
| New Enterprise Associates 16, L.P. | 10% owner | 5,938,562 | 4.17% | Feb 13, 2026 |
| NEA Partners 16, L.P. | 10% owner | 12,273,280 | 8.61% | Feb 13, 2026 |
| Nea 16 Gp, Llc | 10% owner | 10,421,428 | 7.31% | Feb 13, 2026 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Michael Thomas Heffernan Director | Sep 15, 2026 | Sale(10b5-1 plan) | −100 | $15.88 | $1.59K | 6,351 |
| Michael Thomas Heffernan Director | Sep 15, 2026 | Sale(10b5-1 plan) | −20,952 | $15.09 | $316.17K | 6,451 |
| Michael Thomas Heffernan Director | Sep 15, 2026 | Option exercise | +21,052 | $3.33 | $70.10K | 27,403 |
| Michael Thomas Heffernan Director | Sep 15, 2026 | Sale(10b5-1 plan) | −100 | $15.88 | $1.59K | 6,351 |
| Michael Thomas Heffernan Director | Sep 15, 2026 | Sale(10b5-1 plan) | −18,321 | $15.09 | $276.46K | 6,451 |
| Michael Thomas Heffernan Director | Sep 15, 2026 | Option exercise | +18,421 | $3.04 | $56.00K | 24,772 |
| Christopher Galletta See Remarks | Dec 2, 2025 | Option exercise | +4,225 | $0.51 | $2.15K | 26,095 |
| Ali Behbahani 10% owner | Apr 17, 2025 | Option exercise | +1,851,852 | $1.37 | $2.54M | 12,273,280 |
| Anthony A. Florence Jr. 10% owner | Apr 17, 2025 | Option exercise | +1,851,852 | $1.37 | $2.54M | 12,273,280 |
| Paul Edward Walker 10% owner | Apr 17, 2025 | Option exercise | +1,851,852 | $1.37 | $2.54M | 12,273,280 |
| NEA Partners 16, L.P. 10% owner | Apr 17, 2025 | Option exercise | +1,851,852 | $1.37 | $2.54M | 12,273,280 |
| Mohamad Makhzoumi 10% owner | Apr 17, 2025 | Option exercise | +1,851,852 | $1.37 | $2.54M | 12,273,280 |
| Carmen Chang 10% owner | Apr 17, 2025 | Option exercise | +1,851,852 | $1.37 | $2.54M | 12,273,280 |
| Forest Baskett 10% owner | Apr 17, 2025 | Option exercise | +1,851,852 | $1.37 | $2.54M | 12,273,280 |
| Scott D. Sandell 10% owner | Apr 17, 2025 | Option exercise | +1,851,852 | $1.37 | $2.54M | 12,273,280 |
| Thomas Sciascia Chief Scientific Officer | Mar 25, 2025 | Option exercise | +2,631 | $1.43 | $3.76K | 224,004 |
| Thomas Sciascia Chief Scientific Officer | Mar 25, 2025 | Sale | −2,631 | $6.60 | $17.36K | 221,373 |
| Jennifer L. Good President & CEO, Director | Mar 21, 2025 | Sale | −5,263 | $6.58 | $34.63K | 213,313 |
| Jennifer L. Good President & CEO, Director | Mar 21, 2025 | Option exercise | +5,263 | $1.43 | $7.53K | 218,576 |
| Farrell Simon Chief Commercial Officer | Mar 10, 2025 | Sale(10b5-1 plan) | −76,963 | $6.73 | $517.96K | 81,250 |
| Farrell Simon Chief Commercial Officer | Mar 10, 2025 | Option exercise | +17,500 | $3.21 | $56.18K | 63,150 |
| Farrell Simon Chief Commercial Officer | Mar 10, 2025 | Option exercise | +63,813 | $3.91 | $249.51K | 126,963 |
| Farrell Simon Chief Commercial Officer | Mar 10, 2025 | Option exercise | +31,250 | $0.51 | $15.94K | 158,213 |
| Farrell Simon Chief Commercial Officer | Mar 10, 2025 | Sale(10b5-1 plan) | −4,350 | $7.15 | $31.10K | 76,900 |
| Lisa Delfini Chief Financial Officer | Jan 8, 2025 | Option exercise | +5,000 | $0.51 | $2.55K | 64,660 |
| Lisa Delfini Chief Financial Officer | Jan 7, 2025 | Option exercise | +1,000 | $0.51 | $510 | 59,660 |
| Christopher Galletta See Remarks | Dec 13, 2024 | Option exercise | +15,000 | $0.51 | $7.65K | 19,935 |
| Jennifer L. Good President & CEO, Director | Sep 9, 2024 | Sale | −1,840 | $3.04 | $5.59K | 213,313 |
| Jennifer L. Good President & CEO, Director | Sep 9, 2024 | Option exercise | +1,840 | $1.43 | $2.63K | 215,153 |
| Jennifer L. Good President & CEO, Director | Sep 6, 2024 | Sale | −4,219 | $3.03 | $12.78K | 213,313 |
| Jennifer L. Good President & CEO, Director | Sep 6, 2024 | Option exercise | +4,219 | $1.43 | $6.03K | 217,532 |
| Jennifer L. Good President & CEO, Director | Sep 5, 2024 | Option exercise | +40,277 | $1.43 | $57.60K | 253,590 |
| Jennifer L. Good President & CEO, Director | Sep 5, 2024 | Sale | −40,277 | $3.11 | $125.26K | 213,313 |
| Jennifer L. Good President & CEO, Director | Sep 4, 2024 | Option exercise | +10,981 | $1.43 | $15.70K | 224,294 |
| Jennifer L. Good President & CEO, Director | Sep 4, 2024 | Sale | −10,981 | $3.02 | $33.16K | 213,313 |
| Jennifer L. Good President & CEO, Director | Sep 3, 2024 | Option exercise | +3,863 | $1.43 | $5.52K | 217,176 |
| Jennifer L. Good President & CEO, Director | Sep 3, 2024 | Sale | −3,863 | $3.02 | $11.67K | 213,313 |
| David P. Meeker Director | Aug 27, 2024 | Sale | −4,555 | $2.93 | $13.35K | 352,489 |
| David P. Meeker Director | Aug 27, 2024 | Option exercise | +4,555 | $1.43 | $6.51K | 357,044 |
| Thomas Sciascia Chief Scientific Officer | Aug 19, 2024 | Sale | −16,496 | $2.96 | $48.83K | 220,315 |
| Thomas Sciascia Chief Scientific Officer | Aug 19, 2024 | Option exercise | +16,496 | $1.43 | $23.59K | 236,811 |
| Thomas Sciascia Chief Scientific Officer | Aug 16, 2024 | Sale | −18,660 | $2.76 | $51.50K | 220,315 |
| Thomas Sciascia Chief Scientific Officer | Aug 16, 2024 | Option exercise | +18,660 | $1.43 | $26.68K | 238,975 |
| Thomas Sciascia Chief Scientific Officer | Aug 15, 2024 | Sale | −12,745 | $2.79 | $35.56K | 220,315 |
| Thomas Sciascia Chief Scientific Officer | Aug 15, 2024 | Option exercise | +12,745 | $1.43 | $18.23K | 233,060 |
| Thomas Sciascia Chief Scientific Officer | Aug 14, 2024 | Option exercise | +100 | $1.43 | $143 | 220,415 |
| Thomas Sciascia Chief Scientific Officer | Aug 14, 2024 | Sale | −100 | $2.75 | $275 | 220,315 |
| Thomas Sciascia Chief Scientific Officer | May 29, 2024 | Option exercise | +59,354 | $2.19 | $129.99K | 267,801 |
| Thomas Sciascia Chief Scientific Officer | May 29, 2024 | Sale | −53,368 | $2.55 | $136.09K | 214,433 |
| Lisa Delfini Chief Financial Officer | May 22, 2024 | Sale | −4,350 | $2.64 | $11.48K | 53,279 |
| Lisa Delfini Chief Financial Officer | May 22, 2024 | Option exercise | +16,043 | $0.51 | $8.18K | 57,629 |
| Jennifer L. Good President & CEO, Director | May 20, 2024 | Sale | −25,037 | $2.86 | $71.61K | 213,313 |
| Jennifer L. Good President & CEO, Director | May 20, 2024 | Option exercise | +25,037 | $2.19 | $54.83K | 238,350 |
| Jennifer L. Good President & CEO, Director | May 10, 2024 | Option exercise | +4,578 | $2.19 | $10.03K | 217,891 |
| Jennifer L. Good President & CEO, Director | May 10, 2024 | Sale | −4,578 | $2.90 | $13.28K | 213,313 |
| Lisa Delfini Chief Financial Officer | Oct 11, 2023 | Option exercise | +2,292 | $0.51 | $1.17K | 36,686 |
| Lisa Delfini Chief Financial Officer | Oct 11, 2023 | Sale(10b5-1 plan) | −785 | $2.02 | $1.59K | 35,901 |
| Lisa Delfini Chief Financial Officer | Sep 11, 2023 | Sale(10b5-1 plan) | −711 | $2.20 | $1.56K | 34,394 |
| Lisa Delfini Chief Financial Officer | Sep 11, 2023 | Option exercise | +2,291 | $0.51 | $1.17K | 35,105 |
| Lisa Delfini Chief Financial Officer | Aug 11, 2023 | Sale(10b5-1 plan) | −682 | $2.36 | $1.61K | 32,814 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Heffernan Michael Director | Sep 15, 2026 | 39,473 | $627.23K | Sep 15, 2026 | Exercise of Stock Options |
| Lisa Delfini Officer | Oct 7, 2025 | 108,650 | $1.03M | Oct 7, 2025 | Option Exercise |
| Lisa Delfini Officer | Oct 3, 2025 | 40,000 | $386.72K | Oct 3, 2025 | Option Exercise |
| Lisa Delfini Officer | Aug 27, 2025 | 312,855 | $2.53M | Aug 27, 2025 | Restricted Stock Units |
| Jennifer L. Good Officer | Mar 21, 2025 | 5,263 | $34.63K | Mar 21, 2025 | Options Exercise |
| Farrell Simon Officer | Mar 10, 2025 | 81,313 | $548.88K | Mar 10, 2025 | Options Exercise |
| Jennifer L. Good Officer | Sep 3, 2024 | 61,180 | $193.33K | Sep 3, 2024 | Option Exercise |
| David P. Meeker Officer | Aug 27, 2024 | 4,555 | $13.57K | Aug 27, 2024 | Option Exercise |
| Thomas Sciascia Officer | Aug 15, 2024 | 48,001 | $125.28K | Aug 15, 2024 | Options |
| Thomas Sciascia Officer | Aug 15, 2024 | 48,001 | $125.28K | Aug 15, 2024 | Options |
| Thomas Sciascia Officer | May 29, 2024 | 53,368 | $136.62K | May 29, 2024 | Options |
| Lisa Delfini Officer | Sep 11, 2023 | 1,600 | $3.46K | Sep 11, 2023 | Options Exercise |
| Lisa Delfini Officer | Jun 12, 2023 | 1,615 | $4.15K | Jun 12, 2023 | Options Exercise |
| Lisa Delfini Officer | Apr 11, 2023 | 1,900 | $3.50K | Apr 11, 2023 | Options Exercise |