Farrell Simon Sells 81,313 Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) Stock

Trevi Therapeutics, Inc. (NASDAQ:TRVI) insider Farrell Simon sold 81,313 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $6.75, for a total value of $548,862.75. Following the transaction, the insider now owns 76,900 shares in the company, valued at $519,075. This trade represents a 51.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Trevi Therapeutics Stock Performance

Shares of NASDAQ:TRVI opened at $6.30 on Thursday. The company has a market cap of $484.26 million, a P/E ratio of -14.32 and a beta of 0.90. Trevi Therapeutics, Inc. has a one year low of $2.30 and a one year high of $7.39. The business’s 50-day simple moving average is $4.26 and its 200 day simple moving average is $3.58.

Institutional Investors Weigh In On Trevi Therapeutics

Hedge funds have recently modified their holdings of the stock. Summit Investment Advisors Inc. raised its holdings in shares of Trevi Therapeutics by 84.2% during the 4th 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 period. BNP Paribas Financial Markets grew its stake in Trevi Therapeutics by 130.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,930 shares of the company’s stock valued at $40,000 after purchasing an additional 6,764 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Trevi Therapeutics during the 4th quarter valued at approximately $49,000. Squarepoint Ops LLC acquired a new stake in Trevi Therapeutics during the 4th quarter valued at approximately $58,000. Finally, Intech Investment Management LLC acquired a new stake in Trevi Therapeutics during the 3rd quarter valued at approximately $63,000. 95.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TRVI has been the topic of several recent analyst reports. Needham & Company LLC increased their target price on Trevi Therapeutics from $8.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday. HC Wainwright increased their target price on Trevi Therapeutics from $7.50 to $12.50 and gave the stock a “buy” rating in a research report on Monday. D. Boral Capital reiterated a “buy” rating and set a $21.00 target price on shares of Trevi Therapeutics in a research report on Friday, March 7th. Raymond James upgraded Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $9.00 to $29.00 in a research report on Monday. Finally, Oppenheimer increased their target price on Trevi Therapeutics from $12.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday. Seven analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $15.94.

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.