Stock Traders Purchase High Volume of Trevi Therapeutics Call Options (NASDAQ:TRVI)

Key Points

• Trevi Therapeutics saw unusually heavy bullish options activity, with traders purchasing 6,030 call options—about 343% above the average volume.
• Institutional ownership remains high at 95.76%, with Wellington Management and UBS Asset Management increasing their stakes and several funds initiating new positions.
• Analysts maintain a broadly positive outlook: the stock has a consensus “Buy” rating and a $27.08 target price, compared with its recent price of $18.40.

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) was the target of unusually large options trading activity on Friday. Traders purchased 6,030 call options on the stock. This represents an increase of approximately 343% compared to the average volume of 1,362 call options.

Institutional Investors Weigh In On Trevi Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Trevi Therapeutics by 18.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 183,225 shares of the company's stock worth $3,417,000 after purchasing an additional 29,057 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Trevi Therapeutics by 9.5% during the 2nd quarter. Wellington Management Group LLP now owns 5,684,592 shares of the company's stock worth $106,018,000 after buying an additional 495,504 shares in the last quarter. Kingsview Wealth Management LLC bought a new position in shares of Trevi Therapeutics during the 2nd quarter worth approximately $296,000. Seven Fleet Capital Management LP acquired a new stake in shares of Trevi Therapeutics during the 2nd quarter worth approximately $833,430,000. Finally, Artia Global Partners LP acquired a new stake in shares of Trevi Therapeutics during the 2nd quarter worth approximately $41,232,000. Institutional investors own 95.76% of the company's stock.

Trevi Therapeutics Stock Performance

Shares of Trevi Therapeutics stock traded up $0.15 during midday trading on Friday, hitting $18.40. 131,726 shares of the company traded hands, compared to its average volume of 1,717,026. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of -54.12 and a beta of 1.03. The firm's fifty day moving average price is $17.81 and its 200-day moving average price is $14.52. Trevi Therapeutics has a 12 month low of $6.93 and a 12 month high of $20.22.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). Equities research analysts forecast that Trevi Therapeutics will post -0.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on TRVI. Needham & Company LLC restated a "buy" rating and set a $23.00 price objective on shares of Trevi Therapeutics in a research report on Wednesday, May 20th. JonesTrading raised their target price on Trevi Therapeutics from $24.00 to $28.00 and gave the company a "buy" rating in a report on Friday, August 14th. Cantor Fitzgerald lifted their price target on Trevi Therapeutics from $25.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Morgan Stanley reissued an "overweight" rating and set a $23.00 price target on shares of Trevi Therapeutics in a report on Friday, August 7th. Finally, Oppenheimer boosted their price target on Trevi Therapeutics from $24.00 to $25.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $27.08.

Trevi Therapeutics Company Profile

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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