Short Interest in Trevi Therapeutics, Inc. (NASDAQ:TRVI) Decreases By 17.0%

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) was the recipient of a large drop in short interest in December. As of December 31st, there was short interest totalling 3,870,000 shares, a drop of 17.0% from the December 15th total of 4,660,000 shares. Based on an average daily volume of 1,690,000 shares, the days-to-cover ratio is currently 2.3 days.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TRVI shares. Needham & Company LLC restated a "buy" rating and issued a $8.00 target price on shares of Trevi Therapeutics in a report on Thursday, December 12th. B. Riley reissued a "buy" rating and issued a $6.00 price objective on shares of Trevi Therapeutics in a research note on Monday, October 7th. D. Boral Capital reaffirmed a "buy" rating and set a $21.00 target price on shares of Trevi Therapeutics in a research note on Wednesday, January 8th. Finally, HC Wainwright upped their target price on Trevi Therapeutics from $6.00 to $7.50 and gave the company a "buy" rating in a report on Thursday, December 12th. Eight investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $9.31.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC grew its stake in shares of Trevi Therapeutics by 14.5% in the fourth quarter. SG Americas Securities LLC now owns 26,792 shares of the company's stock worth $110,000 after acquiring an additional 3,387 shares during the last quarter. BNP Paribas Financial Markets grew its position in Trevi Therapeutics by 130.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,930 shares of the company's stock worth $40,000 after purchasing an additional 6,764 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Trevi Therapeutics by 17.1% during the 2nd 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 during the period. MAI Capital Management raised its position in shares of Trevi Therapeutics by 0.7% during the third quarter. MAI Capital Management now owns 1,327,285 shares of the company's stock valued at $4,433,000 after buying an additional 8,789 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of 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 buying an additional 11,450 shares during the period. 95.76% of the stock is owned by institutional investors.

Trevi Therapeutics Price Performance

NASDAQ:TRVI traded down $0.02 during midday trading on Friday, reaching $3.76. The stock had a trading volume of 258,536 shares, compared to its average volume of 564,393. The stock has a market capitalization of $289.02 million, a P/E ratio of -8.55 and a beta of 0.87. Trevi Therapeutics has a 1-year low of $1.27 and a 1-year high of $4.68. The firm's fifty day simple moving average is $3.50 and its 200-day simple moving average is $3.18.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). During the same quarter in the prior year, the business earned ($0.08) earnings per share. On average, equities research analysts anticipate that Trevi Therapeutics will post -0.49 earnings per share for the current fiscal year.

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.