Trevi Therapeutics Sees Unusually High Options Volume (NASDAQ:TRVI)

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) was the target of unusually large options trading on Wednesday. Investors bought 2,815 call options on the stock. This is an increase of approximately 240% compared to the typical daily volume of 828 call options.

Trevi Therapeutics Price Performance

NASDAQ:TRVI traded up $0.21 during mid-day trading on Monday, reaching $5.77. The company's stock had a trading volume of 439,987 shares, compared to its average volume of 1,080,167. Trevi Therapeutics has a twelve month low of $2.30 and a twelve month high of $7.39. The company's fifty day simple moving average is $5.30 and its two-hundred day simple moving average is $4.08. The stock has a market cap of $557.86 million, a P/E ratio of -13.11 and a beta of 0.41.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last released 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 expect that Trevi Therapeutics will post -0.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. B. Riley reiterated a "buy" rating and issued a $20.00 price target (up from $11.00) on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. HC Wainwright reissued a "buy" rating and set a $12.50 price target on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Needham & Company LLC reissued a "buy" rating and issued a $24.00 price target on shares of Trevi Therapeutics in a report on Tuesday, April 8th. 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 note on Monday, March 10th. Finally, Oppenheimer lifted their price objective on Trevi Therapeutics from $12.00 to $20.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 11th. Seven 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, the company has a consensus rating of "Buy" and an average target price of $17.56.

Insider Transactions at Trevi Therapeutics

In other Trevi Therapeutics news, insider Farrell Simon sold 81,313 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $6.75, for a total transaction of $548,862.75. Following the sale, the insider now directly owns 76,900 shares in the company, valued at approximately $519,075. The trade was a 51.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jennifer L. Good sold 5,263 shares of the firm's stock in a transaction on Friday, March 21st. The shares were 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 owns 213,313 shares of the company's stock, valued at approximately $1,403,599.54. This represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 24.37% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TRVI. BNP Paribas Financial Markets increased its stake in Trevi Therapeutics by 130.9% during the third quarter. BNP Paribas Financial Markets now owns 11,930 shares of the company's stock worth $40,000 after acquiring an additional 6,764 shares during the last quarter. State Street Corp grew its holdings in shares of Trevi Therapeutics by 5.9% during the 3rd quarter. State Street Corp now owns 952,912 shares of the company's stock worth $3,183,000 after purchasing an additional 53,051 shares during the period. Barclays PLC increased its position in Trevi Therapeutics by 180.8% during the 3rd quarter. Barclays PLC now owns 95,232 shares of the company's stock worth $319,000 after purchasing an additional 61,317 shares in the last quarter. Geode Capital Management LLC raised its holdings in Trevi Therapeutics by 10.2% in the third quarter. Geode Capital Management LLC now owns 1,264,166 shares of the company's stock valued at $4,223,000 after buying an additional 117,418 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Trevi Therapeutics by 220.6% during the third quarter. JPMorgan Chase & Co. now owns 100,517 shares of the company's stock valued at $336,000 after buying an additional 69,167 shares in the last quarter. 95.76% of the stock is 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.