Trevi Therapeutics (NASDAQ:TRVI) Shares Down 4% - Time to Sell?

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) traded down 4% on Wednesday . The company traded as low as $5.61 and last traded at $5.54. 21,597 shares were traded during trading, a decline of 98% from the average session volume of 1,383,500 shares. The stock had previously closed at $5.77.

Analysts Set New Price Targets

TRVI has been the topic of several research analyst reports. Wall Street Zen lowered Trevi Therapeutics from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Needham & Company LLC reissued a "buy" rating and issued a $24.00 target price on shares of Trevi Therapeutics in a report on Tuesday, May 20th. Oppenheimer restated an "outperform" rating on shares of Trevi Therapeutics in a research report on Monday, June 2nd. D. Boral Capital reissued a "buy" rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a research note on Monday, June 2nd. Finally, B. Riley reaffirmed a "buy" rating and issued a $20.00 price target (up previously from $11.00) on shares of Trevi Therapeutics in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $20.29.

Trevi Therapeutics Price Performance

The stock has a market cap of $661.52 million, a price-to-earnings ratio of -12.48 and a beta of 0.59. The stock's 50-day moving average is $6.35 and its 200-day moving average is $5.28.

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 (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.04. Analysts predict that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Trevi Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Summit Investment Advisors Inc. lifted its holdings in Trevi Therapeutics by 84.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company's stock worth $26,000 after buying an additional 2,894 shares during the last quarter. Strs Ohio acquired a new stake in shares of Trevi Therapeutics during the 1st quarter worth approximately $52,000. Raymond James Financial Inc. bought a new stake in shares of Trevi Therapeutics in the 4th quarter worth approximately $49,000. Squarepoint Ops LLC acquired a new position in Trevi Therapeutics during the 4th quarter valued at approximately $58,000. Finally, Diversified Trust Co acquired a new stake in Trevi Therapeutics in the first quarter worth $94,000. 95.76% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.