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

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) fell 4% on Wednesday . The stock traded as low as $5.61 and last traded at $5.54. 21,597 shares traded hands 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

Several brokerages have recently weighed in on TRVI. D. Boral Capital reissued a "buy" rating and set a $21.00 target price on shares of Trevi Therapeutics in a research report on Monday, June 2nd. Oppenheimer reissued an "outperform" rating on shares of Trevi Therapeutics in a research report on Monday, June 2nd. HC Wainwright assumed coverage on shares of Trevi Therapeutics in a research report on Wednesday, May 28th. They issued a "buy" rating and a $21.00 price target for the company. Raymond James Financial upgraded shares of Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and upped their price objective for the company from $9.00 to $29.00 in a research note on Monday, March 10th. Finally, B. Riley restated a "buy" rating and issued a $20.00 price objective (up previously from $11.00) on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Trevi Therapeutics has a consensus rating of "Buy" and an average target price of $20.29.

Trevi Therapeutics Stock Down 0.7%

The stock has a fifty day moving average of $6.33 and a 200-day moving average of $5.32. The stock has a market cap of $659.17 million, a PE ratio of -12.49 and a beta of 0.59.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last announced its earnings results 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. Equities research analysts forecast that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Summit Investment Advisors Inc. grew its stake in shares of Trevi Therapeutics by 84.2% in the 4th 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 during the last quarter. Strs Ohio purchased a new position in shares of Trevi Therapeutics in the 1st quarter valued at approximately $52,000. Raymond James Financial Inc. purchased a new position in shares of Trevi Therapeutics in the 4th quarter valued at approximately $49,000. Squarepoint Ops LLC purchased a new position in shares of Trevi Therapeutics in the 4th quarter valued at approximately $58,000. Finally, Diversified Trust Co purchased a new stake in shares of Trevi Therapeutics in the first quarter valued at approximately $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.