Trevi Therapeutics, Inc. (NASDAQ:TRVI) Short Interest Up 6,352.7% in July

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 target of a significant increase in short interest during the month of 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 days-to-cover ratio is currently 5.4 days. Based on an average trading volume of 1,840,000 shares, the days-to-cover ratio is currently 5.4 days.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Trevi Therapeutics

Several large investors have recently made changes to their positions in TRVI. Raymond James Financial Inc. purchased a new position in shares of Trevi Therapeutics during the fourth quarter valued at approximately $49,000. American Century Companies Inc. raised its holdings in Trevi Therapeutics by 44.7% in the 4th quarter. American Century Companies Inc. now owns 78,143 shares of the company's stock worth $322,000 after acquiring an additional 24,153 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Trevi Therapeutics by 120.5% in the 4th quarter. JPMorgan Chase & Co. now owns 221,664 shares of the company's stock worth $913,000 after acquiring an additional 121,147 shares during the last quarter. Geode Capital Management LLC raised its holdings in Trevi Therapeutics by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 1,299,322 shares of the company's stock worth $5,354,000 after acquiring an additional 35,156 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Trevi Therapeutics by 40.7% in the 4th quarter. Wells Fargo & Company MN now owns 33,050 shares of the company's stock worth $136,000 after acquiring an additional 9,562 shares during the last quarter. 95.76% of the stock is currently owned by hedge funds and other institutional investors.

Trevi Therapeutics Stock Performance

Shares of NASDAQ TRVI traded down $0.08 during trading hours on Friday, hitting $7.33. The company's stock had a trading volume of 1,575,525 shares, compared to its average volume of 1,858,292. The business has a 50-day simple moving average of $6.45 and a 200-day simple moving average of $5.76. The stock has a market cap of $859.76 million, a price-to-earnings ratio of -16.29 and a beta of 0.46. Trevi Therapeutics has a 12 month low of $2.36 and a 12 month high of $8.11.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.04. On average, equities research analysts forecast that Trevi Therapeutics will post -0.49 EPS for the current year.

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.

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