Wall Street Zen Downgrades Trevi Therapeutics (NASDAQ:TRVI) to Sell

Wall Street Zen lowered shares of Trevi Therapeutics (NASDAQ:TRVI) from a hold rating to a sell rating in a report published on Friday.

TRVI has been the topic of several other research reports. Raymond James raised Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $9.00 to $29.00 in a report on Monday, March 10th. D. Boral Capital reaffirmed a “buy” rating and set a $21.00 price objective on shares of Trevi Therapeutics in a report on Monday, June 2nd. B. Riley reaffirmed a “buy” rating and set a $20.00 price objective (up previously from $11.00) on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $24.00 price objective on shares of Trevi Therapeutics in a report on Tuesday, May 20th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Trevi Therapeutics in a report on Monday. One analyst has rated the stock with a sell rating, seven have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Trevi Therapeutics has a consensus rating of “Buy” and a consensus price target of $18.63.

Trevi Therapeutics Price Performance

NASDAQ TRVI opened at $7.06 on Friday. The firm has a market cap of $705.24 million, a PE ratio of -16.05 and a beta of 0.59. Trevi Therapeutics has a one year low of $2.30 and a one year high of $7.48. The stock’s 50 day simple moving average is $6.26 and its 200 day simple moving average is $4.99.

Trevi Therapeutics (NASDAQ:TRVI) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.04. As a group, equities analysts expect that Trevi Therapeutics will post -0.49 earnings per share for the current year.

Insider Transactions at Trevi Therapeutics

In other news, insider Farrell Simon sold 81,313 shares of the firm’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 transaction, the insider now directly owns 76,900 shares in the company, valued at $519,075. This trade represents a 51.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jennifer L. Good sold 5,263 shares of Trevi Therapeutics stock in a transaction dated 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 owns 213,313 shares in the company, valued at approximately $1,403,599.54. This represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Frazier Life Sciences Management L.P. lifted its holdings 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 worth $43,939,000 after acquiring an additional 3,283,684 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Trevi Therapeutics during the fourth quarter worth about $17,099,000. Vanguard Group Inc. lifted its holdings in Trevi Therapeutics by 9.4% during the first quarter. Vanguard Group Inc. now owns 3,838,032 shares of the company’s stock worth $24,141,000 after acquiring an additional 328,819 shares in the last quarter. Vivo Capital LLC lifted its holdings in Trevi Therapeutics by 116.3% during the fourth quarter. Vivo Capital LLC now owns 3,487,903 shares of the company’s stock worth $14,370,000 after acquiring an additional 1,875,000 shares in the last quarter. Finally, MPM Bioimpact LLC lifted its holdings in Trevi Therapeutics by 10.8% during the first quarter. MPM Bioimpact LLC now owns 3,428,366 shares of the company’s stock worth $21,564,000 after acquiring an additional 333,470 shares in the last quarter. 95.76% of the stock is currently owned by 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.