Trevi Therapeutics (NASDAQ:TRVI) Stock Price Down 0.1% - Here's Why

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) shares traded down 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 trading, a decline of 36% from the average session volume of 1,767,804 shares. The stock had previously closed at $7.42.

Wall Street Analyst Weigh In

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

Trevi Therapeutics Price Performance

The firm has a market capitalization of $852.13 million, a PE ratio of -16.14 and a beta of 0.58. The stock's 50-day moving average price is $6.47 and its 200 day moving average price is $5.82.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.04. Equities research analysts forecast that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trevi Therapeutics

Several institutional investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. boosted its stake in Trevi Therapeutics by 10.0% in the first quarter. China Universal Asset Management Co. Ltd. now owns 17,925 shares of the company's stock valued at $113,000 after acquiring an additional 1,627 shares in the last quarter. American Century Companies Inc. boosted its stake in Trevi Therapeutics by 2.1% in the first quarter. American Century Companies Inc. now owns 79,796 shares of the company's stock valued at $502,000 after acquiring an additional 1,653 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in Trevi Therapeutics by 84.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company's stock valued at $26,000 after acquiring an additional 2,894 shares in the last quarter. Diversified Trust Co boosted its stake in Trevi Therapeutics by 22.0% in the second quarter. Diversified Trust Co now owns 18,309 shares of the company's stock valued at $100,000 after acquiring an additional 3,307 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Trevi Therapeutics by 21.2% in the fourth quarter. Invesco Ltd. now owns 23,621 shares of the company's stock valued at $97,000 after acquiring an additional 4,133 shares in 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.