Trevi Therapeutics, Inc. (NASDAQ:TRVI) Short Interest Update

Key Points

• Trevi Therapeutics, Inc. (NASDAQ: TRVI) witnessed a striking increase in short interest of 6,352.7% in July, reaching 9,950,000 shares as of July 15th.
• Analysts maintain a consensus "Buy" rating for Trevi Therapeutics, with price targets ranging from $20.88 to $24.00, while one analyst has issued a "sell" rating.
• A significant majority of Trevi's shares, approximately 95.76%, are currently owned by hedge funds and institutional investors, indicating strong institutional confidence.

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) was the recipient of a large increase in short interest in July. As of July 15th, there was short interest totaling 9,950,000 shares, anincreaseof6,352.7% from the June 30th total of 154,200 shares. Based on an average trading volume of 1,840,000 shares, the short-interest ratio is presently 5.4 days. Based on an average trading volume of 1,840,000 shares, the short-interest ratio is presently 5.4 days.

Institutional Investors Weigh In On Trevi Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Trevi Therapeutics by 10.0% during the first quarter. China Universal Asset Management Co. Ltd. now owns 17,925 shares of the company's stock valued at $113,000 after purchasing an additional 1,627 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Trevi Therapeutics by 2.1% during the first quarter. American Century Companies Inc. now owns 79,796 shares of the company's stock valued at $502,000 after purchasing an additional 1,653 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Trevi Therapeutics by 84.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company's stock valued at $26,000 after purchasing an additional 2,894 shares in the last quarter. Diversified Trust Co lifted its holdings in shares of Trevi Therapeutics by 22.0% during the second quarter. Diversified Trust Co now owns 18,309 shares of the company's stock valued at $100,000 after purchasing an additional 3,307 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Trevi Therapeutics by 21.2% during the fourth quarter. Invesco Ltd. now owns 23,621 shares of the company's stock valued at $97,000 after purchasing an additional 4,133 shares in the last quarter. 95.76% of the stock is owned by institutional investors.

Trevi Therapeutics Trading Down 1.1%

Trevi Therapeutics stock traded down $0.08 during mid-day trading on Tuesday, hitting $7.41. The company had a trading volume of 369,593 shares, compared to its average volume of 1,843,530. The stock's 50 day moving average price is $6.50 and its two-hundred day moving average price is $5.84. Trevi Therapeutics has a 12 month low of $2.36 and a 12 month high of $8.11. The company has a market capitalization of $868.88 million, a PE ratio of -16.50 and a beta of 0.58.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.04. Equities research analysts anticipate that Trevi Therapeutics will post -0.49 EPS for the current year.

Wall Street Analysts Forecast Growth

TRVI has been the topic of several recent analyst reports. Oppenheimer reaffirmed an "outperform" rating on shares of Trevi Therapeutics in a report on Monday, June 2nd. HC Wainwright began coverage on Trevi Therapeutics in a report on Wednesday, May 28th. They set a "buy" rating and a $21.00 price objective on the stock. D. Boral Capital reaffirmed a "buy" rating and issued a $21.00 price target on shares of Trevi Therapeutics in a research note on Monday, June 2nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $24.00 price target on shares of Trevi Therapeutics in a research note on Tuesday, May 20th. Finally, Wall Street Zen cut Trevi Therapeutics from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $20.88.

About Trevi Therapeutics

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.