Trevi Therapeutics (NASDAQ:TRVI) Shares Gap Up – Time to Buy?

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) gapped up prior to trading on Friday . The stock had previously closed at $6.60, but opened at $7.13. Trevi Therapeutics shares last traded at $6.68, with a volume of 216,484 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TRVI shares. Oppenheimer lifted their price target on Trevi Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. Needham & Company LLC reiterated a “buy” rating and set a $24.00 price target on shares of Trevi Therapeutics in a research note on Tuesday, April 8th. Raymond James raised Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $9.00 to $29.00 in a research note on Monday, March 10th. D. Boral Capital reaffirmed a “buy” rating and set a $21.00 target price on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Finally, B. Riley reissued a “buy” rating and issued a $20.00 price target (up previously from $11.00) on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Seven equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $17.56.

Trevi Therapeutics Stock Performance

The company’s 50 day moving average is $6.15 and its 200 day moving average is $4.53. The stock has a market capitalization of $659.29 million, a price-to-earnings ratio of -15.00 and a beta of 0.62.

Trevi Therapeutics (NASDAQ:TRVI) last released its earnings results on Tuesday, May 6th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. On average, equities research analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Trevi Therapeutics

In other Trevi Therapeutics news, CEO Jennifer L. Good sold 5,263 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $6.58, for a total value of $34,630.54. Following the transaction, the chief executive officer now directly owns 213,313 shares in the company, valued at $1,403,599.54. The trade was a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Farrell Simon sold 81,313 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $6.75, for a total transaction of $548,862.75. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 24.37% of the company’s stock.

Institutional Investors Weigh In On Trevi Therapeutics

Large investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. boosted its stake in Trevi Therapeutics by 10.0% in the first quarter. China Universal Asset Management Co. Ltd. now owns 17,925 shares of the company’s stock worth $113,000 after purchasing an additional 1,627 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Trevi Therapeutics by 84.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company’s stock valued at $26,000 after purchasing an additional 2,894 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Trevi Therapeutics by 2.1% in the fourth quarter. Bank of New York Mellon Corp now owns 140,219 shares of the company’s stock valued at $578,000 after purchasing an additional 2,935 shares in the last quarter. SG Americas Securities LLC raised its position in Trevi Therapeutics by 14.5% in the 4th quarter. SG Americas Securities LLC now owns 26,792 shares of the company’s stock worth $110,000 after purchasing an additional 3,387 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Trevi Therapeutics by 21.2% during the 4th quarter. Invesco Ltd. now owns 23,621 shares of the company’s stock worth $97,000 after buying an additional 4,133 shares in the last quarter. 95.76% of the stock is currently owned by institutional investors.

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.