Trevi Therapeutics (NASDAQ:TRVI) Upgraded to "Strong-Buy" at EF Hutton Acquisition Co. I

EF Hutton Acquisition Co. I upgraded shares of Trevi Therapeutics (NASDAQ:TRVI - Free Report) to a strong-buy rating in a research report sent to investors on Monday morning, Zacks.com reports.

A number of other research firms have also issued reports on TRVI. Needham & Company LLC reiterated a buy rating and issued a $8.00 target price on shares of Trevi Therapeutics in a research note on Wednesday, May 8th. Rodman & Renshaw started coverage on Trevi Therapeutics in a research report on Thursday, June 13th. They issued a buy rating and a $7.00 price target on the stock.

Trevi Therapeutics Price Performance

Shares of NASDAQ:TRVI traded down $0.12 on Monday, reaching $2.85. The company had a trading volume of 72,147 shares, compared to its average volume of 156,367. The stock has a 50-day moving average price of $2.80 and a 200 day moving average price of $2.77. Trevi Therapeutics has a twelve month low of $0.97 and a twelve month high of $4.00.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.01). During the same period in the previous year, the business posted ($0.07) earnings per share. On average, equities research analysts predict that Trevi Therapeutics will post -0.46 EPS for the current fiscal year.

Insider Activity at Trevi Therapeutics

In related news, insider Thomas Sciascia sold 18,660 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $2.76, for a total value of $51,501.60. Following the completion of the sale, the insider now owns 220,315 shares in the company, valued at $608,069.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 76,478 shares of company stock worth $199,349 in the last ninety days. 24.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD bought a new stake in Trevi Therapeutics in the 1st quarter valued at $47,000. Hsbc Holdings PLC bought a new stake in Trevi Therapeutics in the second quarter valued at about $61,000. The Manufacturers Life Insurance Company increased its stake in Trevi Therapeutics by 87.6% in the second quarter. The Manufacturers Life Insurance Company now owns 24,524 shares of the company's stock valued at $73,000 after acquiring an additional 11,450 shares during the period. American Century Companies Inc. raised its position in Trevi Therapeutics by 17.1% in the second quarter. American Century Companies Inc. now owns 54,108 shares of the company's stock worth $161,000 after purchasing an additional 7,902 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in Trevi Therapeutics during the first quarter worth about $208,000. 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.