Investors Buy High Volume of Trevi Therapeutics Call Options (NASDAQ:TRVI)

Trevi Therapeutics, Inc. (NASDAQ:TRVI) saw unusually large options trading on Wednesday. Investors acquired 13,996 call options on the company. This represents an increase of approximately 1,258% compared to the typical daily volume of 1,031 call options.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Morgan Stanley restated an “overweight” rating and issued a $20.00 price target on shares of Trevi Therapeutics in a research note on Wednesday, May 6th. JonesTrading dropped their target price on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, March 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Monday, April 20th. D. Boral Capital reaffirmed a “buy” rating and set a $19.00 price target on shares of Trevi Therapeutics in a research report on Friday, April 17th. Finally, HC Wainwright restated a “buy” rating and set a $21.00 price objective on shares of Trevi Therapeutics in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Trevi Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $22.67.

Trevi Therapeutics Trading Up 1.3%

Shares of TRVI stock opened at $18.15 on Thursday. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of -56.72 and a beta of 1.00. The business’s 50-day moving average price is $15.69 and its 200-day moving average price is $13.25. Trevi Therapeutics has a 12 month low of $6.55 and a 12 month high of $20.15.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02). On average, sell-side analysts predict that Trevi Therapeutics will post -0.47 earnings per share for the current fiscal year.

Institutional Trading of Trevi Therapeutics

Several institutional investors have recently modified their holdings of TRVI. KBC Group NV bought a new position in shares of Trevi Therapeutics during the first quarter worth about $29,000. Hilton Head Capital Partners LLC bought a new stake in shares of Trevi Therapeutics in the 4th quarter valued at $40,000. Caitong International Asset Management Co. Ltd bought a new stake in Trevi Therapeutics in the fourth quarter valued at $50,000. Russell Investments Group Ltd. increased its position in Trevi Therapeutics by 194.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock valued at $25,000 after buying an additional 2,996 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Trevi Therapeutics by 32.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,231 shares of the company’s stock worth $78,000 after buying an additional 1,523 shares during the period. Institutional investors own 95.76% of the company’s stock.

Trevi Therapeutics Company Profile

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel non-opioid therapies for the management of chronic and acute pain. The company leverages proprietary drug delivery platforms and targeted molecular approaches to address high unmet needs in cancer-related pain, chemotherapy-induced neuropathy and other severe pain conditions.

Its lead product candidate is a proprietary formulation of tetrodotoxin (TTX), a sodium-channel blocking agent being evaluated in early-stage clinical trials for moderate-to-severe pain associated with advanced cancer and peripheral neuropathy.