Stock Traders Buy Large Volume of Trevi Therapeutics Call Options (NASDAQ:TRVI)

Trevi Therapeutics, Inc. (NASDAQ:TRVI) was the recipient of unusually large options trading activity on Wednesday. Stock investors acquired 13,996 call options on the stock. This is an increase of 1,258% compared to the average volume of 1,031 call options.

Wall Street Analysts Forecast Growth

TRVI has been the subject of a number of research analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $20.00 target price on shares of Trevi Therapeutics in a research note on Wednesday, May 6th. Stifel Nicolaus set a $30.00 price target on Trevi Therapeutics in a report on Friday, May 8th. HC Wainwright reiterated a “buy” rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a research report on Wednesday, May 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Trevi Therapeutics in a research note on Monday, April 20th. Finally, D. Boral Capital restated a “buy” rating and set a $19.00 target price on shares of Trevi Therapeutics in a report on Friday, April 17th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $22.67.

Trevi Therapeutics Price Performance

Shares of TRVI stock traded down $0.43 during trading hours on Wednesday, reaching $17.48. 469,979 shares of the company were exchanged, compared to its average volume of 1,662,224. Trevi Therapeutics has a fifty-two week low of $6.55 and a fifty-two week high of $20.15. The stock’s fifty day moving average is $15.61 and its two-hundred day moving average is $13.22. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -54.51 and a beta of 1.00.

Trevi Therapeutics (NASDAQ:TRVI) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). On average, research analysts anticipate that Trevi Therapeutics will post -0.47 earnings per share for the current year.

Hedge Funds Weigh In On Trevi Therapeutics

Several large investors have recently made changes to their positions in the company. Alliancebernstein L.P. increased its position in Trevi Therapeutics by 19,064.5% in the second quarter. Alliancebernstein L.P. now owns 4,281,355 shares of the company’s stock worth $23,419,000 after purchasing an additional 4,259,015 shares during the period. Rubric Capital Management LP lifted its position in Trevi Therapeutics by 88.0% during the 2nd quarter. Rubric Capital Management LP now owns 8,531,860 shares of the company’s stock valued at $46,669,000 after purchasing an additional 3,993,325 shares during the period. Viking Global Investors LP boosted its stake in shares of Trevi Therapeutics by 232.4% in the 3rd quarter. Viking Global Investors LP now owns 5,128,875 shares of the company’s stock valued at $46,929,000 after purchasing an additional 3,585,875 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Trevi Therapeutics by 1,792.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,253,888 shares of the company’s stock valued at $29,773,000 after purchasing an additional 3,081,906 shares during the last quarter. Finally, Marshall Wace LLP grew its position in shares of Trevi Therapeutics by 95.4% during the 3rd quarter. Marshall Wace LLP now owns 4,841,751 shares of the company’s stock worth $44,302,000 after buying an additional 2,363,835 shares during the period. Institutional investors and hedge funds 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.