Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $6.16, but opened at $6.33. Trevi Therapeutics shares last traded at $6.19, with a volume of 130,283 shares traded.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on TRVI. B. Riley reaffirmed 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. HC Wainwright assumed coverage on Trevi Therapeutics in a research note on Wednesday. They set a "buy" rating and a $21.00 price target for the company. D. Boral Capital reissued a "buy" rating and set a $21.00 price target on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Raymond James raised Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and increased their price target for the company from $9.00 to $29.00 in a research note on Monday, March 10th. Finally, Needham & Company LLC reissued a "buy" rating and set a $24.00 price target on shares of Trevi Therapeutics in a research note on Tuesday, May 20th. Seven equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $18.63.
View Our Latest Report on TRVI
Trevi Therapeutics Trading Up 2.2%
The stock has a 50 day moving average of $6.24 and a 200-day moving average of $4.87. The stock has a market capitalization of $649.30 million, a P/E ratio of -14.77 and a beta of 0.62.
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, topping the consensus estimate of ($0.13) by $0.04. Research analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 EPS for the current year.
Insider Buying and Selling
In other news, CEO Jennifer L. Good sold 5,263 shares of the company's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $6.58, for a total value of $34,630.54. Following the completion of the sale, the chief executive officer now directly owns 213,313 shares in the company, valued at $1,403,599.54. This represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Farrell Simon sold 81,313 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $6.75, for a total value of $548,862.75. Following the completion of the sale, the insider now owns 76,900 shares of the company's stock, valued at $519,075. This trade represents a 51.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.30% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Trevi Therapeutics
Several hedge funds have recently bought and sold shares of TRVI. Rhumbline Advisers raised its position in Trevi Therapeutics by 13.3% in the 1st quarter. Rhumbline Advisers now owns 90,482 shares of the company's stock valued at $569,000 after purchasing an additional 10,608 shares in the last quarter. Strs Ohio acquired a new stake in Trevi Therapeutics in the 1st quarter valued at about $52,000. Acorn Capital Advisors LLC raised its position in Trevi Therapeutics by 7.2% in the 1st quarter. Acorn Capital Advisors LLC now owns 2,144,844 shares of the company's stock valued at $13,491,000 after purchasing an additional 143,796 shares in the last quarter. Exome Asset Management LLC acquired a new stake in Trevi Therapeutics in the 1st quarter valued at about $1,030,000. Finally, Octagon Capital Advisors LP acquired a new stake in Trevi Therapeutics in the 1st quarter valued at about $20,895,000. Institutional investors and hedge funds own 95.76% of the company's stock.
About Trevi Therapeutics
(
Get Free Report)
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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