Trevi Therapeutics (NASDAQ:TRVI) Trading Up 7.2% – Here’s What Happened

Trevi Therapeutics, Inc. (NASDAQ:TRVI)’s share price rose 7.2% during trading on Monday . The company traded as high as $12.72 and last traded at $12.7950. Approximately 547,879 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 1,377,992 shares. The stock had previously closed at $11.94.

Analyst Ratings Changes

TRVI has been the subject of a number of analyst reports. Morgan Stanley dropped their price objective on Trevi Therapeutics from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, March 18th. JonesTrading lowered their price target on shares of Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, March 19th. D. Boral Capital reissued a “buy” rating and set a $19.00 price target on shares of Trevi Therapeutics in a research report on Wednesday, March 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Wednesday, January 21st. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Trevi Therapeutics in a research note on Monday, March 9th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $21.60.

Trevi Therapeutics Price Performance

The stock has a market capitalization of $1.64 billion, a PE ratio of -40.07 and a beta of 0.99. The company has a 50 day moving average price of $11.27 and a 200-day moving average price of $11.23.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly earnings results on Tuesday, March 17th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.04. As a group, equities analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current year.

Hedge Funds Weigh In On Trevi Therapeutics

A number of institutional investors have recently bought and sold shares of TRVI. Russell Investments Group Ltd. boosted its position 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 purchased a new position in shares of Trevi Therapeutics in the 4th quarter valued at approximately $40,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Trevi Therapeutics in the 4th quarter valued at approximately $50,000. Strs Ohio bought a new stake in shares of Trevi Therapeutics during the first quarter valued at approximately $52,000. Finally, Rafferty Asset Management LLC purchased a new stake in Trevi Therapeutics in the second quarter worth $60,000. 95.76% of the stock is owned by institutional investors.

About Trevi Therapeutics

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.