Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $5.95, but opened at $6.20. Trevi Therapeutics shares last traded at $6.09, with a volume of 2,624,623 shares traded.
Analyst Upgrades and Downgrades
Several research firms have commented on TRVI. B. Riley reissued a "buy" rating and set a $20.00 target price (up previously from $11.00) on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Needham & Company LLC reissued a "buy" rating and set a $24.00 target price on shares of Trevi Therapeutics in a research note on Tuesday, May 20th. Oppenheimer reissued an "outperform" rating on shares of Trevi Therapeutics in a research report on Monday, June 2nd. Raymond James upgraded Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and boosted their target price for the company from $9.00 to $29.00 in a research note on Monday, March 10th. Finally, Wall Street Zen lowered shares of Trevi Therapeutics from a "hold" rating to a "sell" rating in a research note on Friday. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $18.63.
Get Our Latest Analysis on TRVI
Trevi Therapeutics Price Performance
The business has a fifty day moving average price of $6.26 and a 200 day moving average price of $4.99. The company has a market capitalization of $705.24 million, a price-to-earnings ratio of -16.05 and a beta of 0.59.
Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.04. As a group, sell-side analysts predict that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current fiscal year.
Insider Activity at Trevi Therapeutics
In other Trevi Therapeutics news, CEO Jennifer L. Good sold 5,263 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $6.58, for a total transaction of $34,630.54. Following the sale, the chief executive officer now directly owns 213,313 shares of the company's stock, valued at approximately $1,403,599.54. This represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Farrell Simon sold 81,313 shares of Trevi Therapeutics stock in a transaction 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 transaction, the insider now owns 76,900 shares of the company's stock, valued at approximately $519,075. The trade was a 51.39% decrease in their position. The disclosure for this sale can be found here. 18.30% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Trevi Therapeutics
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Summit Investment Advisors Inc. grew its holdings in Trevi Therapeutics by 84.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company's stock worth $26,000 after acquiring an additional 2,894 shares during the period. Strs Ohio bought a new stake in Trevi Therapeutics in the 1st quarter valued at $52,000. Raymond James Financial Inc. acquired a new position in shares of Trevi Therapeutics during the fourth quarter worth about $49,000. Squarepoint Ops LLC bought a new position in shares of Trevi Therapeutics during the 4th quarter worth approximately $58,000. Finally, Diversified Trust Co acquired a new stake in Trevi Therapeutics in the 1st quarter valued at $94,000. Institutional investors 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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