Trevi Therapeutics Target of Unusually High Options Trading (NASDAQ:TRVI)

Trevi Therapeutics, Inc. (NASDAQ:TRVI) saw unusually large options trading activity on Thursday. Traders acquired 14,625 call options on the company. This is an increase of approximately 1,853% compared to the average volume of 749 call options.

Institutional Investors Weigh In On Trevi Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of TRVI. China Universal Asset Management Co. Ltd. grew its stake in shares of Trevi Therapeutics by 4.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 21,346 shares of the company’s stock worth $195,000 after acquiring an additional 911 shares during the period. Hilton Head Capital Partners LLC increased its stake in shares of Trevi Therapeutics by 32.6% during the first quarter. Hilton Head Capital Partners LLC now owns 4,250 shares of the company’s stock valued at $51,000 after buying an additional 1,044 shares during the period. Ameritas Investment Partners Inc. grew its stake in shares of Trevi Therapeutics by 20.5% in the third quarter. Ameritas Investment Partners Inc. now owns 7,632 shares of the company’s stock worth $70,000 after acquiring an additional 1,300 shares during the last quarter. AlphaCentric Advisors LLC boosted its position in shares of Trevi Therapeutics by 5.7% during the first quarter. AlphaCentric Advisors LLC now owns 23,970 shares of the company’s stock valued at $286,000 after buying an additional 1,303 shares during the last quarter. Finally, Kennedy Capital Management LLC raised its stake in shares of Trevi Therapeutics by 2.4% in the fourth quarter. Kennedy Capital Management LLC now owns 56,269 shares of the company’s stock worth $704,000 after buying an additional 1,336 shares during the period. 95.76% of the stock is owned by hedge funds and other institutional investors.

Trevi Therapeutics Stock Up 3.1%

Shares of Trevi Therapeutics stock traded up $0.51 during trading on Thursday, reaching $16.88. The company’s stock had a trading volume of 550,028 shares, compared to its average volume of 1,437,515. Trevi Therapeutics has a 52 week low of $5.41 and a 52 week high of $17.10. The business’s 50-day moving average price is $14.16 and its 200-day moving average price is $12.56. The firm has a market cap of $2.40 billion, a PE ratio of -52.50 and a beta of 1.04.

Trevi Therapeutics (NASDAQ:TRVI) last issued its earnings results on Tuesday, May 5th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). Equities analysts predict that Trevi Therapeutics will post -0.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

TRVI has been the subject of several research analyst reports. D. Boral Capital reissued a “buy” rating and issued a $19.00 target price on shares of Trevi Therapeutics in a research report on Friday, April 17th. Morgan Stanley restated an “overweight” rating and set a $20.00 price target on shares of Trevi Therapeutics in a report on Wednesday, May 6th. Needham & Company LLC reissued a “buy” rating and issued a $23.00 target price on shares of Trevi Therapeutics in a research report on Wednesday, May 20th. Stifel Nicolaus set a $30.00 price objective on shares of Trevi Therapeutics in a report on Friday, May 8th. Finally, Wall Street Zen cut shares of Trevi Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $22.90.

About Trevi Therapeutics

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel non-opioid therapies for the management of chronic and acute pain. The company leverages proprietary drug delivery platforms and targeted molecular approaches to address high unmet needs in cancer-related pain, chemotherapy-induced neuropathy and other severe pain conditions.

Its lead product candidate is a proprietary formulation of tetrodotoxin (TTX), a sodium-channel blocking agent being evaluated in early-stage clinical trials for moderate-to-severe pain associated with advanced cancer and peripheral neuropathy.