Trevi Therapeutics (NASDAQ:TRVI) Shares Down 9.9% - Here's What Happened

Key Points

• Shares fell 9.9% on Monday to about $11.98 (intraday low $11.71) with ~832,369 shares traded, roughly 41% below the stock's average daily volume.
• Analysts remain broadly positive with an average rating of "Buy" and a consensus price target of $21.10, following multiple upgrades and raised targets (e.g., Oppenheimer $24, HC Wainwright $21).
• Trevi is a clinical-stage biopharma focused on non-opioid pain therapies—its lead candidate is a tetrodotoxin (TTX) formulation—and it has a market cap of $1.52 billion with about 95.8% institutional ownership.

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report)'s stock price was down 9.9% on Monday . The company traded as low as $11.71 and last traded at $11.98. Approximately 832,369 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 1,402,046 shares. The stock had previously closed at $13.30.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TRVI shares. HC Wainwright reaffirmed a "buy" rating and set a $21.00 target price on shares of Trevi Therapeutics in a research report on Monday. Leerink Partners increased their price target on Trevi Therapeutics from $13.00 to $16.00 and gave the company an "outperform" rating in a report on Wednesday, November 19th. D. Boral Capital restated a "buy" rating and set a $19.00 price objective on shares of Trevi Therapeutics in a research note on Thursday, January 8th. Oppenheimer lifted their price objective on Trevi Therapeutics from $23.00 to $24.00 and gave the stock an "outperform" rating in a report on Friday, November 14th. Finally, B. Riley Financial raised Trevi Therapeutics to a "strong-buy" rating in a research report on Monday, November 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $21.10.

Trevi Therapeutics Price Performance

The firm has a market cap of $1.52 billion, a P/E ratio of -32.03 and a beta of 0.94. The firm's 50-day moving average price is $11.26 and its 200 day moving average price is $10.73.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TRVI. China Universal Asset Management Co. Ltd. raised its holdings in shares of Trevi Therapeutics by 4.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 21,346 shares of the company's stock worth $195,000 after purchasing an additional 911 shares during the period. Ameritas Investment Partners Inc. lifted its position in shares of Trevi Therapeutics by 20.5% in the 3rd quarter. Ameritas Investment Partners Inc. now owns 7,632 shares of the company's stock worth $70,000 after buying an additional 1,300 shares during the last quarter. Kennedy Capital Management LLC boosted its holdings in shares of Trevi Therapeutics by 2.4% in the 4th quarter. Kennedy Capital Management LLC now owns 56,269 shares of the company's stock valued at $704,000 after buying an additional 1,336 shares during the period. Persistent Asset Partners Ltd boosted its holdings in shares of Trevi Therapeutics by 3.3% in the 2nd quarter. Persistent Asset Partners Ltd now owns 42,788 shares of the company's stock valued at $234,000 after buying an additional 1,384 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Trevi Therapeutics by 32.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,231 shares of the company's stock valued at $78,000 after buying an additional 1,523 shares during the last quarter. Institutional investors and hedge funds own 95.76% of the company's stock.

Trevi Therapeutics Company Profile

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel non-opioid therapies for the management of chronic and acute pain. The company leverages proprietary drug delivery platforms and targeted molecular approaches to address high unmet needs in cancer-related pain, chemotherapy-induced neuropathy and other severe pain conditions.

Its lead product candidate is a proprietary formulation of tetrodotoxin (TTX), a sodium-channel blocking agent being evaluated in early-stage clinical trials for moderate-to-severe pain associated with advanced cancer and peripheral neuropathy.

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