Trevi Therapeutics (NASDAQ:TRVI) Stock Price Up 5.7% – Here’s What Happened

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) rose 5.7% on Tuesday . The company traded as high as $6.78 and last traded at $6.77. Approximately 117,424 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 994,539 shares. The stock had previously closed at $6.40.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TRVI. B. Riley restated a “buy” rating and issued a $20.00 price target (up from $11.00) on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Raymond James raised Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $9.00 to $29.00 in a research note on Monday, March 10th. Needham & Company LLC reduced their price objective on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. Oppenheimer upped their target price on Trevi Therapeutics from $12.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. Finally, HC Wainwright restated a “buy” rating and issued a $12.50 price objective on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Seven investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $17.56.

Trevi Therapeutics Stock Up 4.2 %

The company’s 50 day simple moving average is $4.65 and its two-hundred day simple moving average is $3.78. The company has a market capitalization of $644.87 million, a price-to-earnings ratio of -15.16 and a beta of 0.90.

Trevi Therapeutics (NASDAQ:TRVI) last announced its earnings results on Tuesday, March 18th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.01. Analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 EPS for the current year.

Insider Activity

In other Trevi Therapeutics news, insider Farrell Simon sold 81,313 shares of the company’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 transaction of $548,862.75. Following the transaction, the insider now owns 76,900 shares in the company, valued at approximately $519,075. This represents a 51.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 24.37% of the company’s stock.

Hedge Funds Weigh In On Trevi Therapeutics

Hedge funds have recently made changes to their positions in the company. Summit Investment Advisors Inc. boosted its position in Trevi Therapeutics by 84.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company’s stock valued at $26,000 after buying an additional 2,894 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of 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 worth $578,000 after purchasing an additional 2,935 shares during the period. SG Americas Securities LLC raised its holdings in Trevi Therapeutics by 14.5% in the 4th quarter. SG Americas Securities LLC now owns 26,792 shares of the company’s stock worth $110,000 after purchasing an additional 3,387 shares during the period. Invesco Ltd. boosted its position in Trevi Therapeutics by 21.2% during the fourth quarter. Invesco Ltd. now owns 23,621 shares of the company’s stock worth $97,000 after purchasing an additional 4,133 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Trevi Therapeutics by 32.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,166 shares of the company’s stock valued at $104,000 after purchasing an additional 6,119 shares during the period. 95.76% of the stock is owned by institutional investors and hedge funds.

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.