Trevi Therapeutics Sees Unusually Large Options Volume (NASDAQ:TRVI)

Trevi Therapeutics, Inc. (NASDAQ:TRVI) was the target of unusually large options trading activity on Friday. Stock investors purchased 6,030 call options on the stock. This is an increase of 343% compared to the typical daily volume of 1,362 call options.

Trevi Therapeutics Trading Up 0.8%

Shares of TRVI traded up $0.15 during trading hours on Friday, reaching $18.40. The stock had a trading volume of 131,726 shares, compared to its average volume of 1,717,026. The firm has a 50-day simple moving average of $17.81 and a 200 day simple moving average of $14.52. Trevi Therapeutics has a 12 month low of $6.93 and a 12 month high of $20.22. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of -54.12 and a beta of 1.03.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). On average, equities analysts forecast that Trevi Therapeutics will post -0.48 EPS for the current year.

Institutional Trading of Trevi Therapeutics

Hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. grew its stake in shares of Trevi Therapeutics by 194.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock worth $25,000 after acquiring an additional 2,996 shares during the period. KBC Group NV purchased a new stake in Trevi Therapeutics during the first quarter valued at about $29,000. Hilton Head Capital Partners LLC purchased a new stake in Trevi Therapeutics during the fourth quarter valued at about $40,000. Caitong International Asset Management Co. Ltd bought a new position in Trevi Therapeutics during the fourth quarter worth about $50,000. Finally, Strs Ohio bought a new position in Trevi Therapeutics during the first quarter worth about $52,000. 95.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Trevi Therapeutics in a research note on Friday, July 17th. Oppenheimer increased their price objective on shares of Trevi Therapeutics from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Stifel Nicolaus set a $30.00 target price on Trevi Therapeutics in a research note on Friday, May 8th. Wall Street Zen lowered Trevi Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, B. Riley Financial upped their price target on Trevi Therapeutics from $21.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $27.08.

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.