Trevi Therapeutics, Inc. (NASDAQ:TRVI) Short Interest Up 230.5% in December

Trevi Therapeutics, Inc. (NASDAQ:TRVI) was the target of a large increase in short interest in December. As of December 15th, there was short interest totalling 4,660,000 shares, an increase of 230.5% from the November 30th total of 1,410,000 shares. Based on an average daily trading volume, of 1,660,000 shares, the short-interest ratio is currently 2.8 days.

Analyst Ratings Changes

Several equities analysts have issued reports on TRVI shares. Leerink Partners started coverage on Trevi Therapeutics in a report on Monday, September 9th. They set an “outperform” rating and a $7.00 price objective on the stock. Leerink Partnrs upgraded Trevi Therapeutics to a “strong-buy” rating in a research note on Monday, September 9th. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price objective on shares of Trevi Therapeutics in a research note on Thursday, December 12th. D. Boral Capital reissued a “buy” rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a report on Thursday, December 12th. Finally, Raymond James started coverage on shares of Trevi Therapeutics in a report on Friday, August 30th. They issued an “outperform” rating and a $9.00 target price on the stock. Eight equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $9.31.

Trevi Therapeutics Price Performance

Shares of NASDAQ:TRVI traded up $0.11 during trading on Thursday, reaching $4.11. The company had a trading volume of 121,338 shares, compared to its average volume of 615,593. The firm has a market capitalization of $315.92 million, a price-to-earnings ratio of -9.34 and a beta of 0.96. Trevi Therapeutics has a fifty-two week low of $1.27 and a fifty-two week high of $4.68. The stock’s fifty day moving average price is $3.16 and its 200 day moving average price is $3.02.

Trevi Therapeutics (NASDAQ:TRVI) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). During the same period in the previous year, the firm earned ($0.08) EPS. On average, equities analysts anticipate that Trevi Therapeutics will post -0.49 EPS for the current fiscal year.

Institutional Trading of Trevi Therapeutics

Several hedge funds have recently modified their holdings of the business. Barclays PLC raised its position in Trevi Therapeutics by 180.8% in the third quarter. Barclays PLC now owns 95,232 shares of the company’s stock worth $319,000 after acquiring an additional 61,317 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Trevi Therapeutics by 10.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,264,166 shares of the company’s stock valued at $4,223,000 after purchasing an additional 117,418 shares in the last quarter. State Street Corp lifted its stake in shares of Trevi Therapeutics by 5.9% in the third quarter. State Street Corp now owns 952,912 shares of the company’s stock valued at $3,183,000 after purchasing an additional 53,051 shares during the period. Fred Alger Management LLC purchased a new stake in Trevi Therapeutics during the third quarter worth about $256,000. Finally, Acuta Capital Partners LLC grew its position in Trevi Therapeutics by 11.7% during the third quarter. Acuta Capital Partners LLC now owns 290,500 shares of the company’s stock worth $970,000 after buying an additional 30,500 shares during the period. 95.76% of the stock is owned by institutional investors and hedge funds.

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.