Trevi Therapeutics, Inc. (NASDAQ:TRVI) Sees Significant Growth in Short Interest

Trevi Therapeutics, Inc. (NASDAQ:TRVI) was the recipient of a large 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 trading volume of 1,840,000 shares, the short-interest ratio is presently 2.5 days. Currently, 8.1% of the shares of the company are short sold.

Insider Activity

In other Trevi Therapeutics news, CEO Jennifer L. Good sold 5,263 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 213,313 shares in the company, valued at $1,403,599.54. This represents a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Farrell Simon sold 81,313 shares of Trevi Therapeutics 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 completion of the sale, the insider now owns 76,900 shares in the company, valued at approximately $519,075. This represents a 51.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 24.37% of the company’s stock.

Institutional Trading of Trevi Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of TRVI. Summit Investment Advisors Inc. grew its stake in 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 last quarter. BNP Paribas Financial Markets boosted its holdings in shares of 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 period. Raymond James Financial Inc. acquired a new stake in shares of Trevi Therapeutics in the fourth quarter valued at approximately $49,000. Squarepoint Ops LLC purchased a new position in shares of Trevi Therapeutics during the fourth quarter worth approximately $58,000. Finally, Intech Investment Management LLC purchased a new stake in Trevi Therapeutics in the 3rd quarter valued at $63,000. 95.76% of the stock is currently owned by institutional investors and hedge funds.

Trevi Therapeutics Stock Up 4.5 %

NASDAQ:TRVI opened at $6.28 on Thursday. Trevi Therapeutics has a 52 week low of $2.30 and a 52 week high of $7.39. The stock’s fifty day moving average is $5.02 and its two-hundred day moving average is $3.94. The company has a market capitalization of $607.16 million, a P/E ratio of -14.27 and a beta of 0.90.

Trevi Therapeutics (NASDAQ:TRVI) last announced its earnings results on Tuesday, March 18th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. Sell-side analysts anticipate that Trevi Therapeutics will post -0.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TRVI has been the subject of a number of research analyst reports. Needham & Company LLC decreased their price target on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. B. Riley reiterated a “buy” rating and set a $20.00 target price (up from $11.00) on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Raymond James raised shares of Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $9.00 to $29.00 in a research note on Monday, March 10th. Oppenheimer lifted 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. Finally, HC Wainwright reissued a “buy” rating and issued a $12.50 price objective on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Seven investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $17.56.

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.