Trevi Therapeutics (NASDAQ:TRVI) Director Michael Thomas Heffernan Sells 39,473 Shares of Stock

Trevi Therapeutics, Inc. (NASDAQ:TRVI) Director Michael Thomas Heffernan sold 39,473 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $15.09, for a total value of $595,647.57. Following the sale, the director owned 6,351 shares in the company, 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 link.

Trevi Therapeutics Price Performance

Trevi Therapeutics stock opened at $15.21 on Friday. The firm has a market capitalization of $2.17 billion, a P/E ratio of -44.74 and a beta of 1.04. Trevi Therapeutics, Inc. has a one year low of $8.03 and a one year high of $20.22. The business has a fifty day moving average price of $17.53 and a 200-day moving average price of $15.33.

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

Institutional Trading of Trevi Therapeutics

A number of large investors have recently modified their holdings of TRVI. BlackRock Inc. bought a new position in shares of Trevi Therapeutics in the 2nd quarter worth $208,041,000. Artia Global Partners LP bought a new stake in shares of Trevi Therapeutics during the 2nd quarter worth $41,232,000. First Light Asset Management LLC bought a new stake in shares of Trevi Therapeutics during the 2nd quarter worth $39,113,000. Bank of America Corp DE purchased a new position in Trevi Therapeutics in the second quarter worth $28,588,000. Finally, Assenagon Asset Management S.A. purchased a new position in Trevi Therapeutics in the second quarter worth $28,447,000. Institutional investors own 95.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TRVI shares. Oppenheimer increased their price target on shares of Trevi Therapeutics from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Cantor Fitzgerald boosted their price objective 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. B. Riley Financial upped their target price on shares of Trevi Therapeutics from $21.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, July 20th. JonesTrading increased their target price on shares of Trevi Therapeutics from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $23.00 price target on shares of Trevi Therapeutics in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $27.08.

Trevi Therapeutics Company Profile

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.