Trevi Therapeutics (NASDAQ:TRVI) Trading Up 5.8% – What’s Next?

Trevi Therapeutics, Inc. (NASDAQ:TRVI) was up 5.8% during mid-day trading on Friday . The stock traded as high as $6.54 and last traded at $6.55. Approximately 332,769 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 1,175,859 shares. The stock had previously closed at $6.19.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TRVI shares. Raymond James raised shares of Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $9.00 to $29.00 in a research report on Monday, March 10th. Oppenheimer boosted their price target on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday, March 11th. 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. D. Boral Capital reaffirmed a “buy” rating and set a $21.00 price objective on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $24.00 price objective on shares of Trevi Therapeutics in a research note on Tuesday, April 8th. Seven research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $17.56.

Trevi Therapeutics Price Performance

The firm’s 50 day moving average is $6.29 and its 200 day moving average is $4.64. The company has a market cap of $649.30 million, a PE ratio of -14.77 and a beta of 0.62.

Trevi Therapeutics (NASDAQ:TRVI) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.04. As a group, analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 EPS for the current year.

Insiders Place Their Bets

In other Trevi Therapeutics news, CEO Jennifer L. Good sold 5,263 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $6.58, for a total value of $34,630.54. Following the completion of the transaction, the chief executive officer now owns 213,313 shares of the company’s stock, valued at $1,403,599.54. The trade was a 2.41% decrease in their position. 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 business’s 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 completion of the transaction, the insider now directly owns 76,900 shares of the company’s stock, valued at approximately $519,075. This represents a 51.39% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.30% of the company’s stock.

Hedge Funds Weigh In On Trevi Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. grew its stake in Trevi Therapeutics by 10.0% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 17,925 shares of the company’s stock worth $113,000 after buying an additional 1,627 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Trevi Therapeutics by 2.1% in the 1st quarter. American Century Companies Inc. now owns 79,796 shares of the company’s stock worth $502,000 after acquiring an additional 1,653 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Trevi Therapeutics by 84.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company’s stock worth $26,000 after acquiring an additional 2,894 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Trevi Therapeutics by 2.1% in the 4th quarter. Bank of New York Mellon Corp now owns 140,219 shares of the company’s stock worth $578,000 after acquiring an additional 2,935 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of 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 acquiring an additional 3,387 shares during the last quarter. Hedge funds and other institutional investors own 95.76% of the company’s stock.

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.