Trevi Therapeutics (NASDAQ:TRVI) Stock Price Breaks Above 50-Day Moving Average - Here's Why

Key Points

• Trevi shares rose 11.9% and moved above their 50-day moving average, trading at $14.33 versus the average of $14.27.
• Analysts have a “Moderate Buy” consensus and an average price target of $27.08, though ratings range from Strong Buy to Sell; recent targets include $24 from HC Wainwright and $30 from Cantor Fitzgerald.
• Director Michael Heffernan sold 39,473 shares for about $596,000, cutting his stake by 86.14%; insiders own 15.39% of the stock.

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) shares passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $14.27 and traded as high as $14.36. Trevi Therapeutics shares last traded at $14.33, with a volume of 2,539,464 shares trading hands.

Analysts Set New Price Targets

TRVI has been the subject of several analyst reports. HC Wainwright boosted their target price on Trevi Therapeutics from $21.00 to $24.00 and gave the stock a "buy" rating in a report on Monday, July 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Trevi Therapeutics in a research report on Thursday, October 15th. Oppenheimer reaffirmed an "outperform" rating on shares of Trevi Therapeutics in a research report on Friday, September 25th. Cantor Fitzgerald boosted their price target on Trevi Therapeutics from $25.00 to $30.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Trevi Therapeutics in a research report on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $27.08.

Trevi Therapeutics Stock Up 11.9%

The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -42.15 and a beta of 1.15. The business has a 50-day simple moving average of $14.27 and a two-hundred day simple moving average of $14.39.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last released its 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). On average, analysts forecast that Trevi Therapeutics, Inc. will post -0.48 EPS for the current year.

Insider Transactions at Trevi Therapeutics

In other news, Director Michael Heffernan sold 39,473 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $15.09, for a total value of $595,647.57. Following the transaction, the director owned 6,351 shares in the company, valued at $95,836.59. This represents a 86.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 15.39% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRVI. Diversified Trust Co increased its position in shares of Trevi Therapeutics by 21.5% in the 3rd quarter. Diversified Trust Co now owns 28,549 shares of the company's stock valued at $409,000 after purchasing an additional 5,053 shares during the last quarter. Nan Fung Trinity HK Ltd. increased its holdings in Trevi Therapeutics by 943.5% during the 3rd quarter. Nan Fung Trinity HK Ltd. now owns 1,082,890 shares of the company's stock worth $15,507,000 after purchasing an additional 979,115 shares during the last quarter. Candriam S.C.A. raised its position in shares of Trevi Therapeutics by 35.4% during the 3rd quarter. Candriam S.C.A. now owns 1,308,104 shares of the company's stock worth $18,800,000 after purchasing an additional 341,885 shares during the period. AlphaCentric Advisors LLC grew its holdings in shares of Trevi Therapeutics by 4.3% in the 3rd quarter. AlphaCentric Advisors LLC now owns 25,370 shares of the company's stock worth $363,000 after acquiring an additional 1,053 shares during the last quarter. Finally, CenterBook Partners LP acquired a new position in Trevi Therapeutics during the third quarter worth $280,000. Hedge funds and other institutional investors own 95.76% of the company's stock.

About Trevi Therapeutics

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for chronic conditions that have limited therapeutic options. The company's lead product candidate is Haduvio, an oral extended-release formulation of nalbuphine, an opioid receptor modulator designed to combine kappa-opioid receptor agonism with mu-opioid receptor antagonism.

Trevi is evaluating Haduvio in conditions involving chronic cough and severe itching. Its clinical development programs have included studies in chronic cough associated with idiopathic pulmonary fibrosis, a progressive lung disease, and chronic pruritus associated with systemic sclerosis, an autoimmune connective-tissue disorder.

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