Trevi Therapeutics (NASDAQ:TRVI) Stock Price Up 4.4% – Here’s Why

Trevi Therapeutics, Inc. (NASDAQ:TRVI)’s share price was up 4.4% during mid-day trading on Tuesday . The company traded as high as $6.80 and last traded at $6.83. Approximately 486,472 shares were traded during trading, a decline of 49% from the average daily volume of 961,566 shares. The stock had previously closed at $6.54.

Analyst Ratings Changes

Several analysts have recently commented on TRVI shares. HC Wainwright upped their price objective on shares of Trevi Therapeutics from $7.50 to $12.50 and gave the company a “buy” rating in a report on Monday, March 10th. Oppenheimer upped their price objective on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. Needham & Company LLC upped their price objective on shares of Trevi Therapeutics from $8.00 to $25.00 and gave the company a “buy” rating in a report on Monday, March 10th. D. Boral Capital reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a report on Friday, March 7th. Finally, Raymond James raised shares of Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $9.00 to $29.00 in a report on Monday, March 10th. Seven research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Trevi Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $15.94.

Trevi Therapeutics Price Performance

The stock’s fifty day moving average is $4.39 and its 200-day moving average is $3.66. The stock has a market capitalization of $540.98 million, a PE ratio of -16.03 and a beta of 0.90.

Insider Buying and Selling

In related news, insider Farrell Simon sold 81,313 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $6.75, for a total transaction of $548,862.75. Following the sale, the insider now directly owns 76,900 shares of the company’s stock, valued at approximately $519,075. This represents a 51.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 24.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Trevi Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. lifted its holdings in Trevi Therapeutics by 84.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company’s stock valued at $26,000 after purchasing an additional 2,894 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Trevi Therapeutics by 130.9% during the third quarter. BNP Paribas Financial Markets now owns 11,930 shares of the company’s stock valued at $40,000 after purchasing an additional 6,764 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Trevi Therapeutics during the fourth quarter valued at $49,000. Squarepoint Ops LLC purchased a new position in Trevi Therapeutics during the fourth quarter valued at $58,000. Finally, Intech Investment Management LLC purchased a new position in Trevi Therapeutics during the third quarter valued at $63,000. 95.76% of the stock is owned by hedge funds and other institutional investors.

About Trevi Therapeutics

Trevi Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapy Haduvio for the treatment of chronic cough in idiopathic pulmonary fibrosis (IPF) and refractory chronic cough (RCC) conditions targeting the central and peripheral nervous systems.