Trevi Therapeutics (NASDAQ:TRVI) Shares Down 4.6% - Should You Sell?

Key Points

• Trevi Therapeutics shares fell 4.6% to $9.30 during mid-day trading, with a significant drop in trading volume, down 81% from average levels.
• Analysts are generally optimistic, with a consensus rating of "Buy" and a target price average of $21.75, despite recent price declines.
• The company, specializing in therapies for chronic cough, recently reported earnings exceeding expectations, with an EPS of ($0.09), beating the analysts' estimates.

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) shares dropped 4.6% during mid-day trading on Friday . The company traded as low as $9.35 and last traded at $9.30. Approximately 359,305 shares were traded during trading, a decline of 81% from the average daily volume of 1,939,079 shares. The stock had previously closed at $9.75.

Wall Street Analysts Forecast Growth

TRVI has been the subject of a number of recent research reports. Cantor Fitzgerald initiated coverage on shares of Trevi Therapeutics in a research report on Tuesday, July 1st. They set an "overweight" rating and a $25.00 price target for the company. HC Wainwright began coverage on shares of Trevi Therapeutics in a report on Wednesday, May 28th. They set a "buy" rating and a $21.00 target price for the company. Oppenheimer reissued an "outperform" rating on shares of Trevi Therapeutics in a research report on Monday, June 2nd. Morgan Stanley started coverage on Trevi Therapeutics in a research report on Thursday, August 21st. They issued an "overweight" rating and a $18.00 price objective for the company. Finally, Needham & Company LLC decreased their target price on shares of Trevi Therapeutics from $24.00 to $22.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to MarketBeat.com, Trevi Therapeutics has a consensus rating of "Buy" and a consensus target price of $21.75.

Trevi Therapeutics Price Performance

The company has a 50-day simple moving average of $7.31 and a 200-day simple moving average of $6.49. The stock has a market cap of $1.08 billion, a PE ratio of -21.20 and a beta of 0.71.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.01. On average, equities analysts expect that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal year.

Institutional Trading of Trevi Therapeutics

Institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in shares of Trevi Therapeutics by 194.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company's stock worth $25,000 after purchasing an additional 2,996 shares during the period. Farther Finance Advisors LLC lifted its position in Trevi Therapeutics by 15,969.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 8,838 shares of the company's stock worth $48,000 after acquiring an additional 8,783 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Trevi Therapeutics in the 4th quarter valued at approximately $49,000. Strs Ohio acquired a new position in shares of Trevi Therapeutics in the 1st quarter valued at approximately $52,000. Finally, Catalyst Funds Management Pty Ltd acquired a new position in shares of Trevi Therapeutics in the 2nd quarter valued at about $56,000. Hedge funds and other institutional investors 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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