Trevi Therapeutics (NASDAQ:TRVI) Trading Down 3.3% – Here’s What Happened

Trevi Therapeutics, Inc. (NASDAQ:TRVI) shares traded down 3.3% during trading on Monday . The stock traded as low as $6.38 and last traded at $6.52. 988,511 shares traded hands during trading, a decline of 51% from the average session volume of 2,002,676 shares. The stock had previously closed at $6.75.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Oppenheimer increased 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 increased 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 reissued a “buy” rating and set a $21.00 price objective on shares of Trevi Therapeutics in a report on Friday, March 7th. HC Wainwright increased 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. Finally, Raymond James upgraded shares of Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $9.00 to $29.00 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 company’s stock. According to data from MarketBeat, Trevi Therapeutics has a consensus rating of “Buy” and a consensus target price of $15.94.

Trevi Therapeutics Stock Down 2.5 %

The stock’s 50 day moving average price is $4.35 and its 200-day moving average price is $3.63. The stock has a market capitalization of $506.01 million, a P/E ratio of -14.99 and a beta of 0.90.

Insider Activity

In other Trevi Therapeutics news, insider Farrell Simon sold 81,313 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 76,900 shares in the company, valued at $519,075. This trade represents a 51.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 24.37% of the company’s stock.

Institutional Investors Weigh In On Trevi Therapeutics

Several institutional investors have recently bought and sold shares of the company. Frazier Life Sciences Management L.P. boosted its stake in Trevi Therapeutics by 44.5% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company’s stock valued at $43,939,000 after acquiring an additional 3,283,684 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Trevi Therapeutics in the fourth quarter valued at approximately $17,099,000. Vivo Capital LLC boosted its stake in Trevi Therapeutics by 116.3% in the fourth quarter. Vivo Capital LLC now owns 3,487,903 shares of the company’s stock valued at $14,370,000 after acquiring an additional 1,875,000 shares in the last quarter. Woodline Partners LP lifted its stake 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 period. Finally, MPM Bioimpact LLC lifted its stake in shares of Trevi Therapeutics by 101.2% during the fourth quarter. MPM Bioimpact LLC now owns 3,094,896 shares of the company’s stock worth $12,751,000 after buying an additional 1,556,379 shares during the period. 95.76% of the stock is currently 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.