Trevi Therapeutics (NASDAQ:TRVI) Shares Down 3.7% - Time to Sell?

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) shares were down 3.7% during mid-day trading on Thursday . The stock traded as low as $5.78 and last traded at $5.76. Approximately 204,200 shares changed hands during trading, a decline of 86% from the average daily volume of 1,412,319 shares. The stock had previously closed at $5.98.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Oppenheimer reaffirmed an "outperform" rating on shares of Trevi Therapeutics in a research note on Monday, June 2nd. Cantor Fitzgerald began coverage on shares of Trevi Therapeutics in a research report on Tuesday. They set an "overweight" rating and a $25.00 price target on the stock. B. Riley reissued a "buy" rating and issued a $20.00 price target (up from $11.00) on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Needham & Company LLC reaffirmed a "buy" rating and set a $24.00 price objective on shares of Trevi Therapeutics in a research report on Tuesday, May 20th. Finally, HC Wainwright began coverage on Trevi Therapeutics in a research report on Wednesday, May 28th. They issued a "buy" rating and a $21.00 target price for the company. 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.com, Trevi Therapeutics currently has an average rating of "Buy" and a consensus target price of $20.88.

Trevi Therapeutics Stock Down 1.4%

The firm has a fifty day moving average price of $6.29 and a two-hundred day moving average price of $5.38. The stock has a market capitalization of $691.54 million, a P/E ratio of -13.10 and a beta of 0.46.

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 for the quarter, beating analysts' consensus estimates of ($0.13) by $0.04. Sell-side analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current fiscal year.

Institutional Trading of Trevi Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP bought a new position in shares of Trevi Therapeutics during the fourth quarter valued at $560,000. Ameriprise Financial Inc. lifted its stake in Trevi Therapeutics by 187.0% during the 4th quarter. Ameriprise Financial Inc. now owns 96,784 shares of the company's stock valued at $399,000 after acquiring an additional 63,067 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Trevi Therapeutics by 14.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 173,063 shares of the company's stock valued at $713,000 after acquiring an additional 22,145 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Trevi Therapeutics by 42.0% in the fourth quarter. Renaissance Technologies LLC now owns 100,400 shares of the company's stock worth $414,000 after acquiring an additional 29,700 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of Trevi Therapeutics by 44.7% during the fourth quarter. American Century Companies Inc. now owns 78,143 shares of the company's stock valued at $322,000 after purchasing an additional 24,153 shares during the last quarter. 95.76% of the stock is currently owned by hedge funds and other institutional investors.

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.