Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report)'s stock price gapped up before the market opened 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 changing hands.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on TRVI shares. Needham & Company LLC reaffirmed a "buy" rating and set a $24.00 target price on shares of Trevi Therapeutics in a research report on Tuesday, May 20th. Raymond James raised Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and lifted their target price for the company from $9.00 to $29.00 in a research report on Monday, March 10th. Oppenheimer lifted their price target on Trevi Therapeutics from $12.00 to $20.00 and gave the stock an "outperform" rating in a report on Tuesday, March 11th. HC Wainwright started coverage on Trevi Therapeutics in a report on Wednesday. They set a "buy" rating and a $21.00 price target on the stock. Finally, B. Riley reiterated a "buy" rating and set a $20.00 price target (up from $11.00) on shares of Trevi Therapeutics in a report on Wednesday, March 19th. 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.com, the stock presently has an average rating of "Buy" and an average price target of $18.63.
Read Our Latest Stock Analysis on Trevi Therapeutics
Trevi Therapeutics Price Performance
The stock has a fifty day moving average of $6.25 and a 200 day moving average of $4.80. The firm has a market capitalization of $620.83 million, a P/E ratio of -14.15 and a beta of 0.62.
Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.04. Equities analysts forecast that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal year.
Insider Buying and Selling at Trevi Therapeutics
In other Trevi Therapeutics news, insider Farrell Simon sold 81,313 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $6.75, for a total value of $548,862.75. Following the sale, the insider now directly owns 76,900 shares in the company, valued at $519,075. The trade was a 51.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jennifer L. Good sold 5,263 shares of the business's stock in a transaction on Friday, March 21st. The shares were 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 owns 213,313 shares in the company, valued at approximately $1,403,599.54. The trade was a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.30% of the company's stock.
Institutional Trading of Trevi Therapeutics
A number of hedge funds and other institutional investors have recently made changes to their positions in TRVI. JPMorgan Chase & Co. grew its position in Trevi Therapeutics by 220.6% during the third quarter. JPMorgan Chase & Co. now owns 100,517 shares of the company's stock worth $336,000 after buying an additional 69,167 shares in the last quarter. SG Americas Securities LLC grew its position in Trevi Therapeutics by 14.5% during the fourth quarter. SG Americas Securities LLC now owns 26,792 shares of the company's stock worth $110,000 after buying an additional 3,387 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in Trevi Therapeutics during the fourth quarter worth about $67,000. Bank of New York Mellon Corp grew its position in Trevi Therapeutics by 2.1% during the fourth quarter. Bank of New York Mellon Corp now owns 140,219 shares of the company's stock worth $578,000 after buying an additional 2,935 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Trevi Therapeutics by 14.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 173,063 shares of the company's stock worth $713,000 after buying an additional 22,145 shares in the last quarter. 95.76% of the stock is currently owned by institutional investors.
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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