Trevi Therapeutics (NASDAQ:TRVI) Stock Price Down 5.1% – What’s Next?

Trevi Therapeutics, Inc. (NASDAQ:TRVI)’s share price fell 5.1% on Monday . The stock traded as low as $18.03 and last traded at $18.0940. Approximately 614,317 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 1,723,184 shares. The stock had previously closed at $19.07.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wall Street Zen upgraded Trevi Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. D. Boral Capital restated a “buy” rating and issued a $19.00 price objective on shares of Trevi Therapeutics in a research report on Friday, April 17th. Needham & Company LLC restated a “buy” rating and issued a $23.00 price objective on shares of Trevi Therapeutics in a research report on Wednesday, May 20th. HC Wainwright upped their target price on Trevi Therapeutics from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday. Finally, B. Riley Financial increased their target price on Trevi Therapeutics from $21.00 to $31.00 and gave the company a “buy” rating in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Trevi Therapeutics has a consensus rating of “Buy” and an average price target of $24.91.

Trevi Therapeutics Trading Up 8.4%

The business has a fifty day simple moving average of $15.96 and a two-hundred day simple moving average of $13.40. The company has a market cap of $2.58 billion, a PE ratio of -56.81 and a beta of 1.00.

Trevi Therapeutics (NASDAQ:TRVI) last released its earnings results on Tuesday, May 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). Equities analysts expect that Trevi Therapeutics, Inc. will post -0.47 EPS for the current year.

Institutional Trading of Trevi Therapeutics

Large investors have recently bought and sold shares of the business. KBC Group NV purchased a new position in Trevi Therapeutics in the 1st quarter worth approximately $29,000. Hilton Head Capital Partners LLC acquired a new position in shares of Trevi Therapeutics during the 4th quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Trevi Therapeutics in the fourth quarter valued at approximately $50,000. Russell Investments Group Ltd. grew its position in shares of Trevi Therapeutics by 194.5% in the second quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock valued at $25,000 after purchasing an additional 2,996 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Trevi Therapeutics by 32.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,231 shares of the company’s stock valued at $78,000 after purchasing an additional 1,523 shares during the last quarter. Hedge funds and other institutional investors own 95.76% of the company’s stock.

About Trevi Therapeutics

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel non-opioid therapies for the management of chronic and acute pain. The company leverages proprietary drug delivery platforms and targeted molecular approaches to address high unmet needs in cancer-related pain, chemotherapy-induced neuropathy and other severe pain conditions.

Its lead product candidate is a proprietary formulation of tetrodotoxin (TTX), a sodium-channel blocking agent being evaluated in early-stage clinical trials for moderate-to-severe pain associated with advanced cancer and peripheral neuropathy.