Trevi Therapeutics (NASDAQ:TRVI) Shares Gap Down – Here’s What Happened

Trevi Therapeutics, Inc. (NASDAQ:TRVI) shares gapped down prior to trading on Tuesday . The stock had previously closed at $6.29, but opened at $6.13. Trevi Therapeutics shares last traded at $5.67, with a volume of 610,946 shares trading hands.

Wall Street Analyst Weigh In

TRVI has been the topic of several analyst reports. D. Boral Capital restated a “buy” rating and set a $21.00 price objective on shares of Trevi Therapeutics in a report on Wednesday, March 19th. 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, March 10th. B. Riley restated a “buy” rating and issued a $20.00 price target (up previously from $11.00) on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Oppenheimer increased their price objective on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. Finally, Needham & Company LLC decreased their target price on shares of Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. Seven investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $17.56.

Trevi Therapeutics Price Performance

The business’s 50-day simple moving average is $4.92 and its two-hundred day simple moving average is $3.90. The stock has a market capitalization of $590.92 million, a price-to-earnings ratio of -13.88 and a beta of 0.90.

Trevi Therapeutics (NASDAQ:TRVI) last posted its earnings results on Tuesday, March 18th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.01. As a group, sell-side analysts expect that Trevi Therapeutics, Inc. will post -0.49 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jennifer L. Good sold 5,263 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $6.58, for a total transaction of $34,630.54. Following the completion of the sale, the chief executive officer now directly owns 213,313 shares in the company, valued at $1,403,599.54. This trade represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Farrell Simon sold 81,313 shares of the firm’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 value of $548,862.75. Following the sale, the insider now owns 76,900 shares of the company’s stock, valued at approximately $519,075. This trade represents a 51.39 % decrease in their position. The disclosure for this sale can be found here. 24.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trevi Therapeutics

Hedge funds have recently bought and sold shares of the company. Frazier Life Sciences Management L.P. raised its stake in Trevi Therapeutics by 44.5% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company’s stock valued at $43,939,000 after buying an additional 3,283,684 shares in the last quarter. Woodline Partners LP raised its position in shares of Trevi Therapeutics by 429.9% during the 4th quarter. Woodline Partners LP now owns 3,212,597 shares of the company’s stock valued at $13,236,000 after acquiring an additional 2,606,370 shares in the last quarter. Squarepoint Ops LLC bought a new position in Trevi Therapeutics during the fourth quarter worth $58,000. Two Sigma Advisers LP bought a new position in Trevi Therapeutics during the fourth quarter worth $66,000. Finally, Two Sigma Investments LP acquired a new position in Trevi Therapeutics in the fourth quarter worth $560,000. 95.76% of the stock is currently 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.