Trevi Therapeutics, Inc. (NASDAQ:TRVI) Short Interest Up 23.5% in March

Trevi Therapeutics, Inc. (NASDAQ:TRVI) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 4,680,000 shares, a growth of 23.5% from the February 28th total of 3,790,000 shares. Based on an average trading volume of 1,840,000 shares, the days-to-cover ratio is presently 2.5 days. Currently, 8.1% of the shares of the stock are short sold.

Insider Buying and Selling at Trevi Therapeutics

In other Trevi Therapeutics news, CEO Jennifer L. Good sold 5,263 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $6.58, for a total value of $34,630.54. Following the transaction, the chief executive officer now directly owns 213,313 shares in the company, valued at approximately $1,403,599.54. This trade represents a 2.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Farrell Simon sold 81,313 shares of the business’s stock in a transaction on Monday, March 10th. The stock was 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. The trade was a 51.39 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 24.37% of the company’s stock.

Institutional Trading of Trevi Therapeutics

A number of hedge funds have recently modified their holdings of TRVI. Summit Investment Advisors Inc. lifted its position in Trevi Therapeutics by 84.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company’s stock worth $26,000 after acquiring an additional 2,894 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Trevi Therapeutics by 2.1% in the 4th quarter. Bank of New York Mellon Corp now owns 140,219 shares of the company’s stock valued at $578,000 after buying an additional 2,935 shares in the last quarter. SG Americas Securities LLC increased its position in Trevi Therapeutics by 14.5% during the 4th quarter. SG Americas Securities LLC now owns 26,792 shares of the company’s stock worth $110,000 after buying an additional 3,387 shares during the period. Invesco Ltd. boosted its position in shares of Trevi Therapeutics by 21.2% in the fourth quarter. Invesco Ltd. now owns 23,621 shares of the company’s stock valued at $97,000 after acquiring an additional 4,133 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Trevi Therapeutics by 32.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,166 shares of the company’s stock worth $104,000 after purchasing an additional 6,119 shares in the last quarter. Institutional investors and hedge funds own 95.76% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Oppenheimer upped their target price on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday, March 11th. Raymond James upgraded shares of Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $9.00 to $29.00 in a report on Monday, March 10th. HC Wainwright reaffirmed a “buy” rating and set a $12.50 target price on shares of Trevi Therapeutics in a report on Wednesday, March 19th. B. Riley reissued a “buy” rating and issued a $20.00 price target (up previously from $11.00) on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $21.00 price objective on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Seven equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $17.56.

Trevi Therapeutics Stock Up 4.3 %

Shares of NASDAQ TRVI traded up $0.26 during trading hours on Wednesday, hitting $6.27. The company had a trading volume of 422,119 shares, compared to its average volume of 1,024,643. The stock has a market capitalization of $606.00 million, a P/E ratio of -14.24 and a beta of 0.90. The firm’s 50 day moving average is $4.97 and its 200-day moving average is $3.92. Trevi Therapeutics has a 1-year low of $2.30 and a 1-year high of $7.39.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings results on Tuesday, March 18th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. On average, sell-side analysts predict that Trevi Therapeutics will post -0.49 earnings per share for the current year.

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.