Trevi Therapeutics (NASDAQ:TRVI) Shares Down 6% – Here’s What Happened

Trevi Therapeutics, Inc. (NASDAQ:TRVI) was down 6% on Tuesday . The company traded as low as $14.97 and last traded at $14.9420. 312,210 shares changed hands during trading, a decline of 81% from the average daily volume of 1,687,127 shares. The stock had previously closed at $15.89.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Friday, July 17th. Wall Street Zen cut shares of Trevi Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 target price on shares of Trevi Therapeutics in a report on Wednesday, May 20th. Raymond James Financial reiterated a “strong-buy” rating and issued a $40.00 target price on shares of Trevi Therapeutics in a research report on Friday, August 7th. Finally, Morgan Stanley restated an “overweight” rating and set a $23.00 price target on shares of Trevi Therapeutics in a research report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $27.08.

Trevi Therapeutics Stock Performance

The business has a 50-day simple moving average of $17.60 and a 200 day simple moving average of $15.30. The firm has a market cap of $2.14 billion, a P/E ratio of -44.15 and a beta of 1.04.

Trevi Therapeutics (NASDAQ:TRVI) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). On average, research analysts expect that Trevi Therapeutics, Inc. will post -0.48 EPS for the current year.

Institutional Trading of Trevi Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of TRVI. KBC Group NV bought a new position in shares of Trevi Therapeutics in the 1st quarter worth approximately $29,000. Hilton Head Capital Partners LLC purchased a new stake in Trevi Therapeutics in the fourth quarter worth $40,000. Caitong International Asset Management Co. Ltd purchased a new stake in Trevi Therapeutics in the fourth quarter worth $50,000. Avidity Partners Management LP bought a new position in Trevi Therapeutics in the first quarter worth $79,000. Finally, Seven Fleet Capital Management LP purchased a new position in Trevi Therapeutics during the fourth quarter valued at $89,000. 95.76% of the stock is currently owned by hedge funds and other institutional investors.

About Trevi Therapeutics

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for chronic cough and other conditions involving dysregulated sensory nerve activity. The company’s lead product candidate is Haduvio, an oral extended-release formulation of nalbuphine designed to reduce chronic cough through activity at opioid receptors.

Trevi is studying Haduvio for chronic cough associated with idiopathic pulmonary fibrosis, a progressive lung disease, as well as refractory chronic cough, a condition in which coughing persists despite treatment of underlying causes.