Trevi Therapeutics (NASDAQ:TRVI) Shares Gap Down - Here's What Happened

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $6.29, but opened at $6.13. Trevi Therapeutics shares last traded at $5.67, with a volume of 610,946 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TRVI shares. Oppenheimer boosted their target price on Trevi Therapeutics from $12.00 to $20.00 and gave the stock an "outperform" rating in a report on Tuesday, March 11th. Raymond James upgraded Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and upped their target price for the company from $9.00 to $29.00 in a report on Monday, March 10th. Needham & Company LLC cut their target price on Trevi Therapeutics from $25.00 to $24.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th. D. Boral Capital reissued a "buy" rating and set a $21.00 price target on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Finally, HC Wainwright restated a "buy" rating and set a $12.50 price objective on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Seven investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, Trevi Therapeutics presently has an average rating of "Buy" and an average price target of $17.56.

Trevi Therapeutics Trading Down 2.7 %

The stock has a market capitalization of $584.93 million, a PE ratio of -13.75 and a beta of 0.41. The firm's fifty day moving average is $5.10 and its 200-day moving average is $3.97.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last posted its earnings results on Tuesday, March 18th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.01. As a group, equities analysts predict that Trevi Therapeutics, Inc. will post -0.49 EPS for the current year.

Insider Activity at Trevi Therapeutics

In other news, CEO Jennifer L. Good sold 5,263 shares of the firm's stock in a transaction that occurred 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 trade represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Farrell Simon sold 81,313 shares of Trevi Therapeutics stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $6.75, for a total transaction of $548,862.75. Following the completion of the transaction, the insider now owns 76,900 shares of the company's stock, valued at $519,075. This trade represents a 51.39 % decrease in their position. The disclosure for this sale can be found here. 24.37% of the stock is currently owned by company insiders.

Institutional Trading of Trevi Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Trevi Therapeutics by 220.6% during the third quarter. JPMorgan Chase & Co. now owns 100,517 shares of the company's stock worth $336,000 after purchasing an additional 69,167 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Trevi Therapeutics by 10.2% in the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Trevi Therapeutics by 14.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 173,063 shares of the company's stock valued at $713,000 after buying an additional 22,145 shares during the last quarter. Barclays PLC raised its stake 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 acquiring an additional 61,317 shares in the last quarter. Finally, State Street Corp boosted its stake in Trevi Therapeutics by 5.9% in the third quarter. State Street Corp now owns 952,912 shares of the company's stock valued at $3,183,000 after acquiring an additional 53,051 shares in the last quarter. Institutional investors and hedge funds own 95.76% of the company's stock.

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.