Trevi Therapeutics (NASDAQ:TRVI) Sees Unusually-High Trading Volume - Here's Why

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 964,876 shares traded hands during mid-day trading, a decline of 14% from the previous session's volume of 1,116,670 shares.The stock last traded at $6.71 and had previously closed at $6.59.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. HC Wainwright restated a "buy" rating and issued a $12.50 price target on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Needham & Company LLC restated a "buy" rating and issued a $24.00 target price on shares of Trevi Therapeutics in a research note on Tuesday, April 8th. Oppenheimer upped their price target on Trevi Therapeutics from $12.00 to $20.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 11th. B. Riley restated a "buy" rating and set a $20.00 target price (up from $11.00) on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Finally, Raymond James raised Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and raised their price target for the stock from $9.00 to $29.00 in a report on Monday, March 10th. Seven analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, Trevi Therapeutics has a consensus rating of "Buy" and an average price target of $17.56.

Trevi Therapeutics Price Performance

The business's 50 day moving average is $5.75 and its 200-day moving average is $4.32. The company has a market cap of $636.55 million, a PE ratio of -14.98 and a beta of 0.41.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.01. As a group, sell-side analysts predict that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal year.

Insider Activity

In related news, CEO Jennifer L. Good sold 5,263 shares of Trevi Therapeutics stock in a transaction on Friday, March 21st. The stock was sold at an average price of $6.58, for a total transaction of $34,630.54. Following the completion of the transaction, the chief executive officer now directly owns 213,313 shares of the company's stock, valued at approximately $1,403,599.54. The trade was a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Farrell Simon sold 81,313 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $6.75, for a total value of $548,862.75. Following the sale, the insider now owns 76,900 shares in the company, valued at approximately $519,075. The trade was a 51.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 24.37% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp increased its holdings in Trevi Therapeutics by 5.9% during the 3rd quarter. State Street Corp now owns 952,912 shares of the company's stock valued at $3,183,000 after acquiring an additional 53,051 shares in the last quarter. Barclays PLC grew its position in shares of Trevi Therapeutics by 180.8% in the third quarter. Barclays PLC now owns 95,232 shares of the company's stock valued at $319,000 after purchasing an additional 61,317 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Trevi Therapeutics by 10.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,264,166 shares of the company's stock worth $4,223,000 after purchasing an additional 117,418 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Trevi Therapeutics by 220.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 100,517 shares of the company's stock worth $336,000 after purchasing an additional 69,167 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in Trevi Therapeutics by 14.5% in the 4th quarter. SG Americas Securities LLC now owns 26,792 shares of the company's stock valued at $110,000 after buying an additional 3,387 shares in the last quarter. Institutional investors and hedge funds own 95.76% of the company's stock.

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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