Trevi Therapeutics Sees Unusually Large Options Volume (NASDAQ:TRVI)

Trevi Therapeutics, Inc. (NASDAQ:TRVIGet Free Report) was the recipient of unusually large options trading activity on Thursday. Stock traders purchased 14,625 call options on the stock. This represents an increase of 1,853% compared to the average daily volume of 749 call options.

Trevi Therapeutics Stock Up 3.1%

NASDAQ:TRVI traded up $0.51 during trading hours on Thursday, hitting $16.88. 550,028 shares of the company’s stock traded hands, compared to its average volume of 1,437,515. The firm has a market cap of $2.40 billion, a P/E ratio of -52.50 and a beta of 1.04. Trevi Therapeutics has a 52 week low of $5.41 and a 52 week high of $17.10. The business’s fifty day simple moving average is $14.16 and its two-hundred day simple moving average is $12.56.

Trevi Therapeutics (NASDAQ:TRVIGet Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). On average, analysts expect that Trevi Therapeutics will post -0.47 EPS for the current year.

Institutional Investors Weigh In On Trevi Therapeutics

Several large investors have recently added to or reduced their stakes in TRVI. Russell Investments Group Ltd. lifted its holdings in Trevi Therapeutics by 194.5% during the second quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock worth $25,000 after buying an additional 2,996 shares during the period. KBC Group NV purchased a new position in Trevi Therapeutics in the 1st quarter worth approximately $29,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Trevi Therapeutics during the 4th quarter valued at approximately $40,000. Caitong International Asset Management Co. Ltd acquired a new stake in Trevi Therapeutics in the 4th quarter valued at approximately $50,000. Finally, Strs Ohio acquired a new position in shares of Trevi Therapeutics in the first quarter worth $52,000. 95.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $21.00 target price on shares of Trevi Therapeutics in a report on Wednesday, May 6th. JonesTrading dropped their price target on shares of Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, March 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Trevi Therapeutics in a research note on Monday, April 20th. D. Boral Capital reiterated a “buy” rating and set a $19.00 price target on shares of Trevi Therapeutics in a report on Friday, April 17th. Finally, Stifel Nicolaus set a $30.00 price target on Trevi Therapeutics in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $22.90.

Check Out Our Latest Analysis on TRVI

Trevi Therapeutics Company Profile

(Get Free Report)

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel non-opioid therapies for the management of chronic and acute pain. The company leverages proprietary drug delivery platforms and targeted molecular approaches to address high unmet needs in cancer-related pain, chemotherapy-induced neuropathy and other severe pain conditions.

Its lead product candidate is a proprietary formulation of tetrodotoxin (TTX), a sodium-channel blocking agent being evaluated in early-stage clinical trials for moderate-to-severe pain associated with advanced cancer and peripheral neuropathy.

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