Trevi Therapeutics (NASDAQ:TRVI) Shares Down 0.1% - Time to Sell?

Key Points

• Trevi Therapeutics saw its stock price decrease by 0.1%, closing at $7.41 with a volume decline of 36% compared to average session trading.
• Several analysts have revised their ratings, with Oppenheimer maintaining an "outperform" rating, while Wall Street Zen downgraded the stock from "hold" to "sell."
• The company reported a quarterly EPS of ($0.09), exceeding analysts' expectations and has an average target price of $20.88 based on multiple analyst evaluations.

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) fell 0.1% on Thursday . The company traded as low as $7.32 and last traded at $7.41. 1,133,670 shares were traded during mid-day trading, a decline of 36% from the average session volume of 1,767,804 shares. The stock had previously closed at $7.42.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TRVI. Wall Street Zen cut Trevi Therapeutics from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Needham & Company LLC reiterated a "buy" rating and set a $24.00 target price on shares of Trevi Therapeutics in a research report on Tuesday, May 20th. Oppenheimer restated an "outperform" rating on shares of Trevi Therapeutics in a research report on Monday, June 2nd. Cantor Fitzgerald initiated coverage on Trevi Therapeutics in a research note on Tuesday, July 1st. They issued an "overweight" rating and a $25.00 price target for the company. Finally, D. Boral Capital reiterated a "buy" rating and set a $21.00 price objective on shares of Trevi Therapeutics in a research note on Monday, June 2nd. One analyst has rated the stock with a sell rating, seven have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $20.88.

Trevi Therapeutics Stock Performance

The company has a market cap of $859.74 million, a price-to-earnings ratio of -16.29 and a beta of 0.58. The business has a fifty day moving average price of $6.45 and a 200 day moving average price of $5.76.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.04. As a group, equities analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 EPS for the current year.

Hedge Funds Weigh In On Trevi Therapeutics

A number of institutional investors have recently added to or reduced their stakes in TRVI. Point72 Asset Management L.P. bought a new stake in shares of Trevi Therapeutics during the fourth quarter worth $17,099,000. Octagon Capital Advisors LP acquired a new stake in shares of Trevi Therapeutics during the 1st quarter valued at $20,895,000. Frazier Life Sciences Management L.P. grew its position in Trevi Therapeutics by 44.5% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company's stock worth $43,939,000 after acquiring an additional 3,283,684 shares during the last quarter. Armistice Capital LLC acquired a new position in Trevi Therapeutics in the 1st quarter worth about $18,795,000. Finally, Woodline Partners LP raised its position in Trevi Therapeutics by 429.9% in the fourth quarter. Woodline Partners LP now owns 3,212,597 shares of the company's stock valued at $13,236,000 after purchasing an additional 2,606,370 shares during the last quarter. 95.76% of the stock is currently owned by institutional investors and hedge funds.

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.