Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) shares fell 7.1% during trading on Tuesday . The company traded as low as $5.38 and last traded at $5.87. Approximately 1,128,028 shares traded hands during trading, a decline of 10% from the average daily volume of 1,249,163 shares. The stock had previously closed at $6.32.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on TRVI. D. Boral Capital reiterated a "buy" rating and set a $21.00 price target on shares of Trevi Therapeutics in a report on Monday. B. Riley reiterated a "buy" rating and issued a $20.00 target price (up previously from $11.00) on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Raymond James raised shares of Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and raised their price target for the company from $9.00 to $29.00 in a research report on Monday, March 10th. HC Wainwright initiated coverage on shares of Trevi Therapeutics in a report on Wednesday, May 28th. They set a "buy" rating and a $21.00 price target on the stock. Finally, Oppenheimer upped their price objective on Trevi Therapeutics from $12.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, March 11th. Seven research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, Trevi Therapeutics currently has an average rating of "Buy" and an average price target of $18.63.
Read Our Latest Research Report on TRVI
Trevi Therapeutics Stock Up 10.6%
The company has a market cap of $657.30 million, a P/E ratio of -14.95 and a beta of 0.59. The firm's 50-day moving average price is $6.23 and its 200-day moving average price is $4.93.
Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.04. As a group, analysts forecast that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current year.
Insider Buying and Selling
In related news, insider Farrell Simon sold 81,313 shares of the firm'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 sale, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jennifer L. Good sold 5,263 shares of the company's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $6.58, for a total transaction of $34,630.54. Following the completion of the transaction, the chief executive officer now owns 213,313 shares of the company's stock, valued at $1,403,599.54. This trade represents a 2.41% 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
A number of large investors have recently modified their holdings of the company. 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 valued at $110,000 after acquiring an additional 3,387 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Trevi Therapeutics in the 4th quarter valued at $67,000. Bank of New York Mellon Corp boosted its holdings in Trevi Therapeutics by 2.1% during the 4th quarter. Bank of New York Mellon Corp now owns 140,219 shares of the company's stock valued at $578,000 after acquiring an additional 2,935 shares during the period. Charles Schwab Investment Management Inc. grew its position in Trevi Therapeutics by 14.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 173,063 shares of the company's stock worth $713,000 after acquiring an additional 22,145 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Trevi Therapeutics in the 4th quarter worth approximately $49,000. 95.76% of the stock is owned by hedge funds and other institutional investors.
Trevi Therapeutics Company Profile
(
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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