Short Interest in Trevi Therapeutics, Inc. (NASDAQ:TRVI) Rises By 23.5%

Trevi Therapeutics, Inc. (NASDAQ:TRVI) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 4,680,000 shares, an increase of 23.5% from the February 28th total of 3,790,000 shares. Based on an average daily trading volume, of 1,840,000 shares, the short-interest ratio is currently 2.5 days. Approximately 8.1% of the shares of the company are short sold.

Wall Street Analyst Weigh In

TRVI has been the topic of a number of analyst reports. B. Riley reiterated a “buy” rating and issued a $20.00 price target (up from $11.00) on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Needham & Company LLC dropped their target price on shares of Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. D. Boral Capital reissued a “buy” rating and set a $21.00 price target on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Raymond James raised shares of Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $9.00 to $29.00 in a research note on Monday, March 10th. Finally, Oppenheimer lifted their target price on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, March 11th. Seven analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Trevi Therapeutics has an average rating of “Buy” and a consensus target price of $17.56.

Trevi Therapeutics Price Performance

Shares of Trevi Therapeutics stock opened at $6.29 on Tuesday. The firm has a 50 day simple moving average of $4.92 and a 200 day simple moving average of $3.90. Trevi Therapeutics has a fifty-two week low of $2.30 and a fifty-two week high of $7.39. The firm has a market cap of $608.13 million, a P/E ratio of -14.30 and a beta of 0.90.

Trevi Therapeutics (NASDAQ:TRVI) last released its earnings results on Tuesday, March 18th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.01. On average, sell-side analysts expect that Trevi Therapeutics will post -0.49 EPS for the current year.

Insider Buying and Selling

In related news, insider Farrell Simon sold 81,313 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $6.75, for a total value of $548,862.75. Following the completion of the transaction, the insider now owns 76,900 shares of the company’s stock, valued at $519,075. This represents a 51.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jennifer L. Good sold 5,263 shares of Trevi Therapeutics stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $6.58, for a total value of $34,630.54. Following the sale, the chief executive officer now directly owns 213,313 shares in the company, valued at $1,403,599.54. The trade was a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.37% of the stock is owned by company insiders.

Institutional Trading of Trevi Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. grew its position in shares of Trevi Therapeutics by 84.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company’s stock worth $26,000 after buying an additional 2,894 shares during the period. BNP Paribas Financial Markets boosted its stake in Trevi Therapeutics by 130.9% in the third quarter. BNP Paribas Financial Markets now owns 11,930 shares of the company’s stock valued at $40,000 after acquiring an additional 6,764 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Trevi Therapeutics during the 4th quarter worth $49,000. Squarepoint Ops LLC bought a new stake in shares of Trevi Therapeutics during the 4th quarter valued at $58,000. Finally, Intech Investment Management LLC acquired a new position in shares of Trevi Therapeutics in the 3rd quarter valued at $63,000. 95.76% of the stock is owned by institutional investors.

Trevi Therapeutics Company Profile

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.