Trevi Therapeutics (NASDAQ:TRVI) Stock Price Up 5.7% - What's Next?

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) shares shot up 5.7% during mid-day trading on Tuesday . The stock traded as high as $6.78 and last traded at $6.77. 117,424 shares were traded during mid-day trading, a decline of 88% from the average session volume of 994,539 shares. The stock had previously closed at $6.40.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $12.50 price target on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Needham & Company LLC cut their price objective on shares of Trevi Therapeutics from $25.00 to $24.00 and set a "buy" rating on the stock in a research report on Wednesday, March 19th. D. Boral Capital reiterated a "buy" rating and set a $21.00 target price on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Oppenheimer lifted their price target on Trevi Therapeutics from $12.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, March 11th. Finally, Raymond James raised Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and upped their price objective for the stock from $9.00 to $29.00 in a research report on Monday, March 10th. Seven research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Trevi Therapeutics currently has a consensus rating of "Buy" and a consensus price target of $17.56.

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Trevi Therapeutics Stock Performance

The company has a fifty day moving average price of $4.81 and a two-hundred day moving average price of $3.85. The company has a market cap of $628.43 million, a P/E ratio of -14.77 and a beta of 0.90.

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

Insider Buying and Selling

In related news, insider Farrell Simon sold 81,313 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $6.75, for a total value of $548,862.75. Following the completion of the sale, the insider now directly owns 76,900 shares in the company, valued at approximately $519,075. This trade represents a 51.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jennifer L. Good sold 5,263 shares of Trevi Therapeutics stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $6.58, for a total value of $34,630.54. Following the transaction, the chief executive officer now owns 213,313 shares of the company's stock, valued at $1,403,599.54. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. 24.37% of the stock is owned by corporate insiders.

Institutional Trading of Trevi Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Frazier Life Sciences Management L.P. increased its holdings in shares of Trevi Therapeutics by 44.5% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company's stock worth $43,939,000 after acquiring an additional 3,283,684 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Trevi Therapeutics during the fourth quarter worth $17,099,000. Vivo Capital LLC boosted its position in Trevi Therapeutics by 116.3% during the fourth quarter. Vivo Capital LLC now owns 3,487,903 shares of the company's stock worth $14,370,000 after purchasing an additional 1,875,000 shares during the period. Woodline Partners LP increased its holdings in shares of Trevi Therapeutics by 429.9% in the fourth quarter. Woodline Partners LP now owns 3,212,597 shares of the company's stock valued at $13,236,000 after purchasing an additional 2,606,370 shares during the last quarter. Finally, MPM Bioimpact LLC raised its position in shares of Trevi Therapeutics by 101.2% in the fourth quarter. MPM Bioimpact LLC now owns 3,094,896 shares of the company's stock valued at $12,751,000 after purchasing an additional 1,556,379 shares during the period. Institutional investors own 95.76% of the company's stock.

Trevi Therapeutics Company Profile

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.