Trevi Therapeutics (NASDAQ:TRVI) Shares Gap Down – Time to Sell?

Trevi Therapeutics, Inc. (NASDAQ:TRVI) gapped down prior to trading on Tuesday. The stock had previously closed at $15.31, but opened at $14.12. Trevi Therapeutics shares last traded at $14.9010, with a volume of 293,435 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently commented on TRVI. Morgan Stanley restated an “overweight” rating and issued a $23.00 price objective on shares of Trevi Therapeutics in a report on Friday, August 7th. Cantor Fitzgerald lifted their target price on shares of Trevi Therapeutics from $25.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. HC Wainwright boosted their target price on shares of Trevi Therapeutics from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. BMO Capital Markets restated an “outperform” rating on shares of Trevi Therapeutics in a research note on Wednesday, October 7th. Finally, Wall Street Zen downgraded shares of Trevi Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $27.08.

Trevi Therapeutics Trading Down 0.7%

The stock has a fifty day moving average price of $14.17 and a 200 day moving average price of $14.46. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -37.97 and a beta of 1.15.

Trevi Therapeutics (NASDAQ:TRVI) last posted its earnings results on Monday, November 9th. The company reported ($0.13) earnings per share for the quarter, hitting the consensus estimate of ($0.13). On average, sell-side analysts forecast that Trevi Therapeutics, Inc. will post -0.48 EPS for the current year.

Insider Activity at Trevi Therapeutics

In related news, Director Michael Heffernan sold 39,473 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $15.09, for a total transaction of $595,647.57. Following the completion of the sale, the director directly owned 6,351 shares of the company’s stock, valued at approximately $95,836.59. This represents a 86.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.39% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. KBC Group NV bought a new stake in Trevi Therapeutics during the first quarter valued at about $29,000. Sterling Capital Management LLC increased its stake in shares of Trevi Therapeutics by 848.7% in the third quarter. Sterling Capital Management LLC now owns 3,567 shares of the company’s stock worth $51,000 after purchasing an additional 3,191 shares during the period. Avidity Partners Management LP bought a new position in shares of Trevi Therapeutics in the first quarter worth about $79,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Trevi Therapeutics in the third quarter worth about $104,000. Finally, Amundi acquired a new position in shares of Trevi Therapeutics during the 2nd quarter worth about $192,000. Institutional investors own 95.76% of the company’s stock.

Trevi Therapeutics Company Profile

Trevi Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing treatments for chronic cough and chronic itch. Its lead candidate, Haduvio (oral extended-release nalbuphine), is being studied for conditions including idiopathic pulmonary fibrosis, other interstitial lung diseases and chronic pruritus associated with prurigo nodularis. Nalbuphine acts on opioid receptors, and Trevi is evaluating its potential to reduce these symptoms. The company’s development programs are focused on clinical research; Haduvio is not an approved treatment.