Trevi Therapeutics (NASDAQ:TRVI) Trading Down 3.3% – Here’s What Happened

Trevi Therapeutics, Inc. (NASDAQ:TRVI)’s stock price traded down 3.3% during mid-day trading on Monday . The stock traded as low as $6.38 and last traded at $6.52. 988,511 shares were traded during trading, a decline of 51% from the average session volume of 2,002,676 shares. The stock had previously closed at $6.75.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Raymond James raised Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $9.00 to $29.00 in a research note on Monday, March 10th. HC Wainwright raised their price target on Trevi Therapeutics from $7.50 to $12.50 and gave the company a “buy” rating in a research report on Monday, March 10th. D. Boral Capital restated a “buy” rating and set a $21.00 price target on shares of Trevi Therapeutics in a research report on Friday, March 7th. Oppenheimer raised their price target on Trevi Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday, March 11th. Finally, Needham & Company LLC lifted their price objective on Trevi Therapeutics from $8.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Seven investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Trevi Therapeutics has an average rating of “Buy” and an average target price of $15.94.

Trevi Therapeutics Trading Down 2.5 %

The company has a market capitalization of $506.01 million, a PE ratio of -14.99 and a beta of 0.90. The business’s fifty day moving average is $4.35 and its two-hundred day moving average is $3.63.

Insider Buying and Selling

In other Trevi Therapeutics news, insider Farrell Simon sold 81,313 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 76,900 shares in the company, valued at approximately $519,075. The trade was a 51.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 24.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trevi Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Frazier Life Sciences Management L.P. increased its stake in shares of Trevi Therapeutics by 44.5% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company’s stock worth $43,939,000 after purchasing an additional 3,283,684 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Trevi Therapeutics in the 4th quarter worth $17,099,000. Vivo Capital LLC increased its stake in shares of Trevi Therapeutics by 116.3% in the 4th quarter. Vivo Capital LLC now owns 3,487,903 shares of the company’s stock worth $14,370,000 after purchasing an additional 1,875,000 shares in the last quarter. Woodline Partners LP increased its stake in shares of Trevi Therapeutics by 429.9% in the 4th quarter. Woodline Partners LP now owns 3,212,597 shares of the company’s stock worth $13,236,000 after purchasing an additional 2,606,370 shares in the last quarter. Finally, MPM Bioimpact LLC increased its stake in shares of Trevi Therapeutics by 101.2% in the 4th quarter. MPM Bioimpact LLC now owns 3,094,896 shares of the company’s stock worth $12,751,000 after purchasing an additional 1,556,379 shares in the last quarter. 95.76% of the stock is currently owned by hedge funds and other institutional investors.

Trevi Therapeutics Company Profile

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.