Trevi Therapeutics (NASDAQ:TRVI) Stock Price Down 3.3% – Here’s Why

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) were down 3.3% on Monday . The stock traded as low as $6.38 and last traded at $6.52. Approximately 988,511 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 2,002,676 shares. The stock had previously closed at $6.75.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TRVI shares. Raymond James raised Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $9.00 to $29.00 in a research report on Monday, March 10th. Oppenheimer upped their price target on Trevi Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday, March 11th. D. Boral Capital reaffirmed a “buy” rating and set a $21.00 price target on shares of Trevi Therapeutics in a research report on Wednesday. Needham & Company LLC dropped their price target on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $12.50 price target on shares of Trevi Therapeutics in a research report on Wednesday. Seven analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $15.81.

Trevi Therapeutics Trading Up 0.3 %

The stock has a market capitalization of $504.24 million, a P/E ratio of -14.91 and a beta of 0.90. The stock’s fifty day moving average price is $4.44 and its two-hundred day moving average price is $3.68.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings data on Tuesday, March 18th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. As a group, analysts expect that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current fiscal year.

Insider Activity at Trevi Therapeutics

In related news, insider Farrell Simon sold 81,313 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $6.75, for a total transaction of $548,862.75. Following the completion of the sale, the insider now directly owns 76,900 shares in the company, valued at $519,075. This represents a 51.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 24.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Trevi Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. raised its holdings in Trevi Therapeutics by 84.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company’s stock valued at $26,000 after buying an additional 2,894 shares during the last quarter. BNP Paribas Financial Markets increased its position in Trevi Therapeutics by 130.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,930 shares of the company’s stock valued at $40,000 after purchasing an additional 6,764 shares during the period. Raymond James Financial Inc. purchased a new position in Trevi Therapeutics during the 4th quarter valued at $49,000. Squarepoint Ops LLC purchased a new position in Trevi Therapeutics during the 4th quarter valued at $58,000. Finally, Two Sigma Advisers LP purchased a new position in Trevi Therapeutics during the 4th quarter valued at $66,000. 95.76% of the stock is currently owned by institutional investors.

Trevi Therapeutics Company Profile

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.