Insider Selling: Trevi Therapeutics, Inc. (NASDAQ:TRVI) Insider Sells $548,862.75 in Stock

Trevi Therapeutics, Inc. (NASDAQ:TRVI) insider Farrell Simon sold 81,313 shares of the 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 completion of 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Trevi Therapeutics Trading Up 7.3 %

Shares of NASDAQ TRVI opened at $6.75 on Friday. The business has a fifty day simple moving average of $4.35 and a 200 day simple moving average of $3.62. The firm has a market capitalization of $518.85 million, a price-to-earnings ratio of -15.34 and a beta of 0.90. Trevi Therapeutics, Inc. has a one year low of $2.30 and a one year high of $7.39.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Frazier Life Sciences Management L.P. raised its stake in Trevi Therapeutics by 44.5% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company’s stock worth $43,939,000 after acquiring an additional 3,283,684 shares in the last quarter. Woodline Partners LP raised its stake in 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 acquiring an additional 2,606,370 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Trevi Therapeutics during the fourth quarter worth $58,000. Two Sigma Advisers LP acquired a new stake in shares of Trevi Therapeutics in the fourth quarter valued at $66,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Trevi Therapeutics in the fourth quarter valued at $560,000. 95.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TRVI has been the subject of a number of recent analyst reports. D. Boral Capital reaffirmed a “buy” rating and set a $21.00 target price on shares of Trevi Therapeutics in a research report on Friday, March 7th. Raymond James raised Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $9.00 to $29.00 in a research report on Monday, March 10th. Oppenheimer increased their price objective on Trevi Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday. Needham & Company LLC increased their price objective on Trevi Therapeutics from $8.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Finally, HC Wainwright increased their price objective on Trevi Therapeutics from $7.50 to $12.50 and gave the company a “buy” rating in a research report on Monday, March 10th. Seven research 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.com, Trevi Therapeutics currently has a consensus rating of “Buy” and an average target price of $15.94.

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.