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

Key Points

• Trevi Therapeutics shares gapped down before market open, dropping from a close of $9.99 to an opening of $9.67, and recently traded at $9.48.
• Analysts have mixed ratings on Trevi Therapeutics, with one strong buy, several buy ratings, and one sell rating, while the average target price is $21.75.
• Institutional investors hold approximately 95.76% of Trevi Therapeutics' stock, with significant investments from Flputnam Investment Management Co. and other firms.

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $9.99, but opened at $9.67. Trevi Therapeutics shares last traded at $9.48, with a volume of 185,842 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TRVI shares. Cantor Fitzgerald started coverage on shares of Trevi Therapeutics in a report on Tuesday, July 1st. They issued an "overweight" rating and a $25.00 price objective for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Trevi Therapeutics in a report on Wednesday, October 8th. Needham & Company LLC reduced their price objective on shares of Trevi Therapeutics from $24.00 to $22.00 and set a "buy" rating for the company in a report on Friday, August 8th. Morgan Stanley started coverage on shares of Trevi Therapeutics in a report on Thursday, August 21st. They issued an "overweight" rating and a $18.00 price objective for the company. Finally, Raymond James Financial reduced their price objective on shares of Trevi Therapeutics from $29.00 to $27.00 and set a "strong-buy" rating for the company in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $21.75.

Trevi Therapeutics Stock Down 3.4%

The firm's 50-day simple moving average is $8.15 and its 200 day simple moving average is $6.98. The stock has a market capitalization of $1.18 billion, a P/E ratio of -22.83 and a beta of 0.74.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.01. As a group, equities analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal year.

Institutional Trading of Trevi Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Flputnam Investment Management Co. raised its holdings in Trevi Therapeutics by 1,105.4% during the 3rd quarter. Flputnam Investment Management Co. now owns 1,048,102 shares of the company's stock worth $9,590,000 after buying an additional 961,150 shares during the period. Harbour Capital Advisors LLC acquired a new stake in Trevi Therapeutics during the 3rd quarter worth about $263,000. Chapin Davis Inc. acquired a new stake in Trevi Therapeutics during the 3rd quarter worth about $321,000. China Universal Asset Management Co. Ltd. raised its holdings in Trevi Therapeutics by 14.0% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 20,435 shares of the company's stock worth $112,000 after buying an additional 2,510 shares during the period. Finally, Soleus Capital Management L.P. acquired a new stake in Trevi Therapeutics during the 2nd quarter worth about $3,829,000. 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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