Trevi Therapeutics, Inc. (NASDAQ:TRVI) Sees Large Increase in Short Interest

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) saw a significant increase in short interest in December. As of December 15th, there was short interest totalling 4,660,000 shares, an increase of 230.5% from the November 30th total of 1,410,000 shares. Based on an average daily trading volume, of 1,660,000 shares, the short-interest ratio is currently 2.8 days.

Trevi Therapeutics Price Performance

Trevi Therapeutics stock traded up $0.21 during mid-day trading on Thursday, hitting $4.21. 543,463 shares of the company's stock traded hands, compared to its average volume of 617,360. Trevi Therapeutics has a fifty-two week low of $1.27 and a fifty-two week high of $4.68. The stock has a market cap of $323.61 million, a price-to-earnings ratio of -9.57 and a beta of 0.96. The firm has a 50 day simple moving average of $3.16 and a two-hundred day simple moving average of $3.02.

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

Institutional Trading of Trevi Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its position 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 buying an additional 6,764 shares in the last quarter. Intech Investment Management LLC acquired a new position in Trevi Therapeutics in the 3rd quarter worth about $63,000. Hsbc Holdings PLC bought a new position in Trevi Therapeutics in the 2nd quarter valued at approximately $61,000. SG Americas Securities LLC bought a new position in shares of Trevi Therapeutics during the third quarter valued at $78,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Trevi Therapeutics by 87.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,524 shares of the company's stock worth $73,000 after buying an additional 11,450 shares during the period. 95.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TRVI has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $8.00 target price on shares of Trevi Therapeutics in a research note on Thursday, December 12th. Raymond James initiated coverage on Trevi Therapeutics in a research report on Friday, August 30th. They issued an "outperform" rating and a $9.00 target price on the stock. HC Wainwright increased their price objective on shares of Trevi Therapeutics from $6.00 to $7.50 and gave the stock a "buy" rating in a research note on Thursday, December 12th. D. Boral Capital reaffirmed a "buy" rating and set a $21.00 price target on shares of Trevi Therapeutics in a research report on Thursday, December 12th. Finally, Leerink Partnrs upgraded Trevi Therapeutics to a "strong-buy" rating in a research note on Monday, September 9th. Eight analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Trevi Therapeutics has an average rating of "Buy" and an average target price of $9.31.

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.