Michael Thomas Heffernan Sells 39,473 Shares of Trevi Therapeutics (NASDAQ:TRVI) Stock

Trevi Therapeutics, Inc. (NASDAQ:TRVI) Director Michael Thomas Heffernan sold 39,473 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $15.09, for a total value of $595,647.57. Following the completion of the transaction, the director directly owned 6,351 shares of the company’s stock, valued at $95,836.59. The trade was a 86.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Trevi Therapeutics Stock Up 1.5%

Shares of NASDAQ:TRVI traded up $0.22 during midday trading on Thursday, reaching $15.23. 1,498,737 shares of the company traded hands, compared to its average volume of 1,702,766. Trevi Therapeutics, Inc. has a 12 month low of $8.03 and a 12 month high of $20.22. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of -44.79 and a beta of 1.04. The firm’s fifty day moving average price is $17.60 and its two-hundred day moving average price is $15.30.

Trevi Therapeutics (NASDAQ:TRVI) last issued its earnings results on Thursday, August 6th. The company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). Analysts forecast that Trevi Therapeutics, Inc. will post -0.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TRVI. Needham & Company LLC restated a “buy” rating and issued a $23.00 price objective on shares of Trevi Therapeutics in a research report on Wednesday, May 20th. BMO Capital Markets assumed coverage on shares of Trevi Therapeutics in a report on Monday, July 20th. They set an “outperform” rating and a $36.00 target price on the stock. JonesTrading increased their target price on shares of Trevi Therapeutics from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Trevi Therapeutics in a report on Friday, July 17th. Finally, Cantor Fitzgerald boosted their price target on shares of Trevi Therapeutics from $25.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $27.08.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Trevi Therapeutics in the 2nd quarter worth approximately $208,041,000. Wellington Management Group LLP increased its stake in Trevi Therapeutics by 9.5% in the second quarter. Wellington Management Group LLP now owns 5,684,592 shares of the company’s stock valued at $106,018,000 after acquiring an additional 495,504 shares during the last quarter. Artia Global Partners LP purchased a new stake in Trevi Therapeutics during the second quarter valued at about $41,232,000. First Light Asset Management LLC bought a new stake in Trevi Therapeutics during the second quarter worth about $39,113,000. Finally, Eventide Asset Management LLC boosted its holdings in shares of Trevi Therapeutics by 89.8% in the 4th quarter. Eventide Asset Management LLC now owns 2,622,306 shares of the company’s stock worth $32,831,000 after purchasing an additional 1,240,982 shares in the last quarter. Hedge funds and other institutional investors own 95.76% of the company’s stock.

About Trevi Therapeutics

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for chronic cough and other conditions involving dysregulated sensory nerve activity. The company’s lead product candidate is Haduvio, an oral extended-release formulation of nalbuphine designed to reduce chronic cough through activity at opioid receptors.

Trevi is studying Haduvio for chronic cough associated with idiopathic pulmonary fibrosis, a progressive lung disease, as well as refractory chronic cough, a condition in which coughing persists despite treatment of underlying causes.