Investors Buy Large Volume of Call Options on Trevi Therapeutics (NASDAQ:TRVI)

Trevi Therapeutics, Inc. (NASDAQ:TRVI) was the recipient of unusually large options trading activity on Tuesday. Stock investors bought 7,500 call options on the stock. This is an increase of approximately 488% compared to the average daily volume of 1,275 call options.

Insider Buying and Selling

In other Trevi Therapeutics news, Director Michael Heffernan sold 39,473 shares of the stock in a transaction that occurred 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 transaction, the director owned 6,351 shares of the company’s stock, valued at $95,836.59. This trade represents a 86.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 15.39% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV purchased a new stake in shares of Trevi Therapeutics in the first quarter worth about $29,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Trevi Therapeutics during the 4th quarter valued at about $40,000. Caitong International Asset Management Co. Ltd acquired a new position in Trevi Therapeutics during the 4th quarter worth approximately $50,000. Avidity Partners Management LP acquired a new position in Trevi Therapeutics during the 1st quarter worth approximately $79,000. Finally, Seven Fleet Capital Management LP purchased a new position in Trevi Therapeutics in the 4th quarter worth approximately $89,000. 95.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wall Street Zen cut shares of Trevi Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Morgan Stanley reaffirmed an “overweight” rating and issued a $23.00 target price on shares of Trevi Therapeutics in a research report on Friday, August 7th. Oppenheimer reiterated an “outperform” rating on shares of Trevi Therapeutics in a report on Friday, September 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Friday, July 17th. 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $27.08.

Trevi Therapeutics Stock Down 0.3%

Trevi Therapeutics stock opened at $13.14 on Thursday. Trevi Therapeutics has a 52-week low of $9.28 and a 52-week high of $20.22. The firm has a fifty day moving average of $16.56 and a 200-day moving average of $15.57. The firm has a market capitalization of $1.87 billion, a P/E ratio of -38.65 and a beta of 0.98.

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

Trevi Therapeutics Company Profile

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for conditions involving chronic cough and other debilitating symptoms for which available treatment options are limited. The company’s lead product candidate is Haduvio, an extended-release formulation of nalbuphine, an opioid receptor modulator being investigated as a potential treatment for chronic cough.

Trevi is evaluating Haduvio for chronic cough associated with idiopathic pulmonary fibrosis (IPF), a progressive lung disease, as well as refractory chronic cough, which persists despite treatment of underlying conditions.