Michael Thomas Heffernan Sells 39,473 Shares of Trevi Therapeutics (NASDAQ:TRVI) Stock

Trevi Therapeutics, Inc. (NASDAQ:TRVI) Director Michael Heffernan sold 39,473 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $15.09, for a total transaction of $595,647.57. Following the completion of the transaction, the director owned 6,351 shares in the company, valued at approximately $95,836.59. This trade represents a 86.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Trevi Therapeutics Price Performance

Trevi Therapeutics stock opened at $14.95 on Friday. The stock has a market capitalization of $2.13 billion, a P/E ratio of -43.97 and a beta of 1.04. Trevi Therapeutics, Inc. has a 12-month low of $8.04 and a 12-month high of $20.22. The firm’s 50-day moving average is $17.48 and its two-hundred day moving average is $15.32.

Trevi Therapeutics (NASDAQ:TRVI) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). As a group, analysts forecast that Trevi Therapeutics, Inc. will post -0.48 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TRVI shares. Oppenheimer increased their price target on Trevi Therapeutics from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. B. Riley Financial lifted their price objective on Trevi Therapeutics from $21.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, July 20th. HC Wainwright upped their target price on Trevi Therapeutics from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Wall Street Zen downgraded Trevi Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, Cantor Fitzgerald raised their price target on Trevi Therapeutics from $25.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Trevi Therapeutics currently has an average rating of “Buy” and a consensus target price of $27.08.

Hedge Funds Weigh In On Trevi Therapeutics

A number of large investors have recently bought and sold shares of TRVI. First Light Asset Management LLC acquired a new stake in shares of Trevi Therapeutics during the 2nd quarter worth $39,113,000. WINTON GROUP Ltd purchased a new stake in Trevi Therapeutics during the second quarter valued at about $1,993,000. Arizona State Retirement System grew its position in Trevi Therapeutics by 12.9% during the second quarter. Arizona State Retirement System now owns 26,434 shares of the company’s stock valued at $493,000 after acquiring an additional 3,019 shares during the period. Amundi acquired a new stake in Trevi Therapeutics during the second quarter worth about $192,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Trevi Therapeutics by 18.8% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 183,225 shares of the company’s stock worth $3,417,000 after purchasing an additional 29,057 shares during the period. Hedge funds and other institutional investors own 95.76% of the company’s stock.

Trevi Therapeutics Company Profile

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for chronic cough and other conditions involving dysregulated sensory nerve activity. The company’s lead product candidate is Haduvio, an oral extended-release formulation of nalbuphine designed to reduce chronic cough through activity at opioid receptors.

Trevi is studying Haduvio for chronic cough associated with idiopathic pulmonary fibrosis, a progressive lung disease, as well as refractory chronic cough, a condition in which coughing persists despite treatment of underlying causes.