Trevi Therapeutics (NASDAQ:TRVI) Shares Down 4.8% – What’s Next?

Trevi Therapeutics, Inc. (NASDAQ:TRVI)’s stock price dropped 4.8% during mid-day trading on Monday . The company traded as low as $6.71 and last traded at $6.72. Approximately 256,819 shares changed hands during trading, a decline of 81% from the average daily volume of 1,323,244 shares. The stock had previously closed at $7.06.

Wall Street Analyst Weigh In

Several brokerages have commented on TRVI. HC Wainwright started coverage on Trevi Therapeutics in a research note on Wednesday, May 28th. They issued a “buy” rating and a $21.00 target price for the company. B. Riley reaffirmed a “buy” rating and set a $20.00 target price (up previously from $11.00) on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $24.00 price target on shares of Trevi Therapeutics in a report on Tuesday, May 20th. Oppenheimer restated an “outperform” rating on shares of Trevi Therapeutics in a research report on Monday, June 2nd. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $21.00 target price on shares of Trevi Therapeutics in a research note on Monday, June 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $18.63.

Trevi Therapeutics Trading Up 1.6%

The stock has a fifty day moving average of $6.27 and a two-hundred day moving average of $5.05. The company has a market capitalization of $650.30 million, a PE ratio of -14.80 and a beta of 0.59.

Trevi Therapeutics (NASDAQ:TRVI) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. Equities analysts forecast that Trevi Therapeutics, Inc. will post -0.49 EPS for the current year.

Insider Activity at Trevi Therapeutics

In other Trevi Therapeutics news, CEO Jennifer L. Good sold 5,263 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $6.58, for a total transaction of $34,630.54. Following the completion of the sale, the chief executive officer now directly owns 213,313 shares in the company, valued at $1,403,599.54. This represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 18.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Trevi Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Summit Investment Advisors Inc. increased its stake in Trevi Therapeutics by 84.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company’s stock worth $26,000 after purchasing an additional 2,894 shares during the period. Raymond James Financial Inc. bought a new position in shares of Trevi Therapeutics in the fourth quarter worth approximately $49,000. Strs Ohio bought a new position in shares of Trevi Therapeutics in the first quarter worth approximately $52,000. Squarepoint Ops LLC purchased a new position in shares of Trevi Therapeutics in the fourth quarter worth $58,000. Finally, Two Sigma Advisers LP bought a new stake in Trevi Therapeutics during the 4th quarter valued at $66,000. Institutional investors own 95.76% of the company’s stock.

About Trevi Therapeutics

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.