Trevi Therapeutics (NASDAQ:TRVI) Shares Down 6% - Should You Sell?

Key Points

• Trevi Therapeutics shares fell about 6% to roughly $14.94 in mid-day trading, with trading volume well below its average. The company has a $2.14 billion market capitalization and remains unprofitable.
• Analysts remain broadly bullish, with a consensus “Buy” rating and average price target of $27.08. Recent targets range from $23 to $36, substantially above the current share price.
• Institutional ownership is high at 95.76%, with major investors including BlackRock and Wellington Management. Trevi is developing Haduvio, an investigational treatment for chronic cough associated with idiopathic pulmonary fibrosis and refractory chronic cough.

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) shares fell 6% during mid-day trading on Tuesday . The company traded as low as $14.97 and last traded at $14.9420. Approximately 312,210 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 1,687,127 shares. The stock had previously closed at $15.89.

Analyst Ratings Changes

A number of analysts have recently weighed in on TRVI shares. Cantor Fitzgerald upped their price target on shares of Trevi Therapeutics from $25.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. JonesTrading boosted their target price on Trevi Therapeutics from $24.00 to $28.00 and gave the stock a "buy" rating in a report on Friday, August 14th. Morgan Stanley restated an "overweight" rating and issued a $23.00 target price on shares of Trevi Therapeutics in a research report on Friday, August 7th. HC Wainwright increased their price target on Trevi Therapeutics from $21.00 to $24.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Finally, BMO Capital Markets assumed coverage on Trevi Therapeutics in a research report on Monday, July 20th. They set an "outperform" rating and a $36.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $27.08.

Trevi Therapeutics Trading Down 5.3%

The firm has a market capitalization of $2.14 billion, a P/E ratio of -44.37 and a beta of 1.04. The business's fifty day moving average is $17.76 and its 200 day moving average is $15.25.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). As a group, sell-side analysts predict that Trevi Therapeutics, Inc. will post -0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trevi Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Trevi Therapeutics during the 2nd quarter worth about $208,041,000. Wellington Management Group LLP increased its holdings in shares of Trevi Therapeutics by 9.5% in the 2nd quarter. Wellington Management Group LLP now owns 5,684,592 shares of the company's stock valued at $106,018,000 after purchasing an additional 495,504 shares during the period. Eventide Asset Management LLC increased its holdings in shares of Trevi Therapeutics by 89.8% in the 4th quarter. Eventide Asset Management LLC now owns 2,622,306 shares of the company's stock valued at $32,831,000 after purchasing an additional 1,240,982 shares during the period. Artia Global Partners LP purchased a new stake in shares of Trevi Therapeutics in the second quarter worth approximately $41,232,000. Finally, First Light Asset Management LLC purchased a new stake in shares of Trevi Therapeutics in the second quarter worth approximately $39,113,000. 95.76% of the stock is owned by institutional investors and hedge funds.

Trevi Therapeutics Company Profile

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for chronic cough and other conditions involving dysregulated sensory nerve activity. The company's lead product candidate is Haduvio, an oral extended-release formulation of nalbuphine designed to reduce chronic cough through activity at opioid receptors.

Trevi is studying Haduvio for chronic cough associated with idiopathic pulmonary fibrosis, a progressive lung disease, as well as refractory chronic cough, a condition in which coughing persists despite treatment of underlying causes.

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