Trevi Therapeutics (NASDAQ:TRVI) Shares Gap Down – Here’s What Happened

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) gapped down prior to trading on Tuesday . The stock had previously closed at $6.29, but opened at $6.13. Trevi Therapeutics shares last traded at $5.67, with a volume of 610,946 shares.

Analyst Ratings Changes

Several analysts recently weighed in on TRVI shares. 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 report on Tuesday, March 11th. D. Boral Capital reiterated a “buy” rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a report on Wednesday, March 19th. B. Riley reissued a “buy” rating and set a $20.00 target price (up previously from $11.00) on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Needham & Company LLC dropped their target price on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Finally, Raymond James upgraded shares of Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $9.00 to $29.00 in a research note on Monday, March 10th. Seven investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Trevi Therapeutics presently has an average rating of “Buy” and a consensus target price of $17.56.

Trevi Therapeutics Stock Up 4.5 %

The firm has a market capitalization of $607.16 million, a price-to-earnings ratio of -14.27 and a beta of 0.90. The stock has a 50-day moving average price of $5.02 and a 200 day moving average price of $3.94.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly earnings data on Tuesday, March 18th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.01. As a group, equities analysts forecast that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current fiscal year.

Insider Transactions at Trevi Therapeutics

In other news, CEO Jennifer L. Good sold 5,263 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $6.58, for a total value of $34,630.54. Following the completion of the sale, the chief executive officer now directly owns 213,313 shares of the company’s stock, valued at approximately $1,403,599.54. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Farrell Simon sold 81,313 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $6.75, for a total value of $548,862.75. Following the transaction, the insider now owns 76,900 shares in the company, valued at $519,075. This represents a 51.39 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 24.37% of the company’s stock.

Institutional Investors Weigh In On Trevi Therapeutics

Several large investors have recently modified their holdings of TRVI. Frazier Life Sciences Management L.P. raised its position in Trevi Therapeutics by 44.5% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company’s stock valued at $43,939,000 after purchasing an additional 3,283,684 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Trevi Therapeutics in the fourth quarter valued at about $17,099,000. Vivo Capital LLC boosted its stake in shares of Trevi Therapeutics by 116.3% during the fourth quarter. Vivo Capital LLC now owns 3,487,903 shares of the company’s stock worth $14,370,000 after buying an additional 1,875,000 shares during the period. Woodline Partners LP grew its holdings in shares of Trevi Therapeutics by 429.9% during the fourth quarter. Woodline Partners LP now owns 3,212,597 shares of the company’s stock worth $13,236,000 after buying an additional 2,606,370 shares during the last quarter. Finally, MPM Bioimpact LLC increased its position in Trevi Therapeutics by 101.2% in the 4th quarter. MPM Bioimpact LLC now owns 3,094,896 shares of the company’s stock valued at $12,751,000 after acquiring an additional 1,556,379 shares during the period. 95.76% of the stock is owned by institutional investors and hedge funds.

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.