Trevi Therapeutics (NASDAQ:TRVI) Shares Down 9.9% – Here’s What Happened

Trevi Therapeutics, Inc. (NASDAQ:TRVI) shares traded down 9.9% on Monday . The stock traded as low as $11.71 and last traded at $11.98. 832,369 shares were traded during trading, a decline of 41% from the average session volume of 1,402,046 shares. The stock had previously closed at $13.30.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TRVI shares. HC Wainwright restated a “buy” rating and issued a $21.00 target price on shares of Trevi Therapeutics in a research note on Monday. Leerink Partners increased their price target on Trevi Therapeutics from $13.00 to $16.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. B. Riley Financial raised Trevi Therapeutics to a “strong-buy” rating in a report on Monday, November 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Wednesday, January 21st. Finally, D. Boral Capital restated a “buy” rating and set a $19.00 price objective on shares of Trevi Therapeutics in a research note on Thursday, January 8th. Two 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 presently has an average rating of “Buy” and a consensus target price of $21.10.

Trevi Therapeutics Stock Down 10.9%

The firm’s 50 day simple moving average is $11.26 and its 200 day simple moving average is $10.73. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -32.03 and a beta of 0.94.

Hedge Funds Weigh In On Trevi Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its stake in Trevi Therapeutics by 194.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock valued at $25,000 after acquiring an additional 2,996 shares in the last quarter. Hilton Head Capital Partners LLC bought a new position in shares of Trevi Therapeutics in the fourth quarter worth $40,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Trevi Therapeutics during the fourth quarter valued at $50,000. Strs Ohio acquired a new position in shares of Trevi Therapeutics during the first quarter valued at $52,000. Finally, Catalyst Funds Management Pty Ltd bought a new stake in shares of Trevi Therapeutics during the second quarter valued at about $56,000. 95.76% of the stock is owned by institutional investors.

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.