Farrell Simon Sells 81,313 Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) Stock

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) insider Farrell Simon sold 81,313 shares of the company'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 transaction, the insider now directly owns 76,900 shares of the company's stock, valued at $519,075. This trade represents a 51.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Trevi Therapeutics Stock Performance

Shares of TRVI stock remained flat at $6.30 during midday trading on Wednesday. The company's stock had a trading volume of 1,757,685 shares, compared to its average volume of 2,038,486. The firm has a market capitalization of $484.26 million, a PE ratio of -14.32 and a beta of 0.90. The stock has a 50-day simple moving average of $4.22 and a 200 day simple moving average of $3.56. Trevi Therapeutics, Inc. has a one year low of $2.30 and a one year high of $7.39.

Wall Street Analyst Weigh In

TRVI has been the subject of several recent analyst reports. Raymond James upgraded shares of Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the stock from $9.00 to $29.00 in a research report on Monday. Needham & Company LLC upped their price objective on shares of Trevi Therapeutics from $8.00 to $25.00 and gave the company a "buy" rating in a research note on Monday. HC Wainwright raised their price objective on Trevi Therapeutics from $7.50 to $12.50 and gave the stock a "buy" rating in a report on Monday. Oppenheimer boosted their target price on Trevi Therapeutics from $12.00 to $20.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, D. Boral Capital reaffirmed a "buy" rating and set a $21.00 price target on shares of Trevi Therapeutics in a research report on Friday, March 7th. Seven investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $15.94.

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Hedge Funds Weigh In On Trevi Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Summit Investment Advisors Inc. boosted its holdings in shares of Trevi Therapeutics by 84.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company's stock valued at $26,000 after acquiring an additional 2,894 shares in the last quarter. BNP Paribas Financial Markets lifted its position 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 purchasing an additional 6,764 shares during the period. Raymond James Financial Inc. purchased a new stake in Trevi Therapeutics in the 4th quarter valued at approximately $49,000. Squarepoint Ops LLC acquired a new position in Trevi Therapeutics during the 4th quarter worth approximately $58,000. Finally, Intech Investment Management LLC acquired a new position in Trevi Therapeutics during the 3rd quarter worth approximately $63,000. 95.76% of the stock is currently owned by hedge funds and other institutional investors.

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.

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