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

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

Wall Street Analyst Weigh In

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

Trevi Therapeutics Price Performance

The stock has a market cap of $504.24 million, a P/E ratio of -14.91 and a beta of 0.90. The company has a fifty day moving average price of $4.44 and a 200 day moving average price of $3.68.

Trevi Therapeutics (NASDAQ:TRVI) last announced its earnings results on Tuesday, March 18th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.01. As a group, sell-side 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 Trevi Therapeutics stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $6.75, for a total transaction of $548,862.75. Following the transaction, the insider now owns 76,900 shares of the company’s stock, valued at $519,075. The trade was a 51.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 24.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Summit Investment Advisors Inc. boosted its position in Trevi Therapeutics by 84.2% in the fourth 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 last quarter. BNP Paribas Financial Markets boosted its position in Trevi Therapeutics by 130.9% in the third quarter. BNP Paribas Financial Markets now owns 11,930 shares of the company’s stock worth $40,000 after purchasing an additional 6,764 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Trevi Therapeutics in the fourth quarter worth $49,000. Squarepoint Ops LLC purchased a new position in Trevi Therapeutics in the fourth quarter worth $58,000. Finally, Intech Investment Management LLC purchased a new position in Trevi Therapeutics in the third quarter worth $63,000. Hedge funds and other 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.