Trevi Therapeutics (NASDAQ:TRVI) Stock Price Down 3.7% - Here's What Happened

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report)'s share price fell 3.7% during trading on Thursday . The stock traded as low as $5.78 and last traded at $5.76. 204,200 shares were traded during trading, a decline of 86% from the average session volume of 1,412,319 shares. The stock had previously closed at $5.98.

Analyst Ratings Changes

Several equities analysts have commented 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 on the stock. B. Riley reaffirmed a "buy" rating and set a $20.00 price objective (up from $11.00) on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Raymond James Financial raised shares of Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and boosted their target price for the stock from $9.00 to $29.00 in a research report on Monday, March 10th. Needham & Company LLC reaffirmed a "buy" rating and set a $24.00 price objective on shares of Trevi Therapeutics in a report on Tuesday, May 20th. Finally, HC Wainwright initiated coverage on shares of Trevi Therapeutics in a research note on Wednesday, May 28th. They set a "buy" rating and a $21.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $20.88.

Trevi Therapeutics Price Performance

The firm has a 50-day simple moving average of $6.28 and a 200 day simple moving average of $5.41. The firm has a market cap of $691.54 million, a PE ratio of -13.10 and a beta of 0.46.

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

Institutional Trading of Trevi Therapeutics

Several institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its position in shares of Trevi Therapeutics by 2.1% in the fourth 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its stake 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 during the last quarter. Raymond James Financial Inc. acquired a new position in Trevi Therapeutics during the fourth quarter worth $49,000. Rosalind Advisors Inc. boosted its stake in Trevi Therapeutics by 41.7% during the fourth quarter. Rosalind Advisors Inc. now owns 1,062,500 shares of the company's stock worth $4,378,000 after buying an additional 312,500 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Trevi Therapeutics by 44.7% during the fourth quarter. American Century Companies Inc. now owns 78,143 shares of the company's stock worth $322,000 after buying an additional 24,153 shares during the last quarter. 95.76% of the stock is owned by institutional investors and hedge funds.

Trevi Therapeutics Company Profile

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.