Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) shares traded up 4.4% during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $6.80 and last traded at $6.83. 486,472 shares traded hands during trading, a decline of 49% from the average session volume of 961,566 shares. The stock had previously closed at $6.54.
The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.12) by $0.01.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. Needham & Company LLC lowered their price target on Trevi Therapeutics from $25.00 to $24.00 and set a "buy" rating for the company in a research report on Wednesday. D. Boral Capital reiterated a "buy" rating and issued a $21.00 target price on shares of Trevi Therapeutics in a report on Wednesday. HC Wainwright restated a "buy" rating and set a $12.50 price target on shares of Trevi Therapeutics in a report on Wednesday. B. Riley reiterated a "buy" rating and issued a $20.00 price objective (up previously from $11.00) on shares of Trevi Therapeutics in a research note on Wednesday. Finally, Oppenheimer lifted their target price on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 11th. Seven equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $17.56.
View Our Latest Analysis on Trevi Therapeutics
Insider Buying and Selling at Trevi Therapeutics
In related news, insider Farrell Simon sold 81,313 shares of the stock in a transaction 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 transaction, the insider now owns 76,900 shares of the company's stock, valued at approximately $519,075. This trade represents a 51.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 24.37% of the company's stock.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the stock. Frazier Life Sciences Management L.P. boosted its holdings in 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 valued at $43,939,000 after acquiring an additional 3,283,684 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Trevi Therapeutics during the fourth quarter valued at approximately $17,099,000. Vivo Capital LLC grew its holdings in shares of Trevi Therapeutics by 116.3% in 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 last quarter. Woodline Partners LP increased its stake 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 worth $13,236,000 after buying an additional 2,606,370 shares during the period. Finally, MPM Bioimpact LLC raised its holdings in Trevi Therapeutics by 101.2% during the 4th quarter. MPM Bioimpact LLC now owns 3,094,896 shares of the company's stock valued at $12,751,000 after buying an additional 1,556,379 shares during the last quarter. Hedge funds and other institutional investors own 95.76% of the company's stock.
Trevi Therapeutics Trading Down 2.1 %
The company has a market capitalization of $497.32 million, a P/E ratio of -14.70 and a beta of 0.90. The stock's fifty day moving average is $4.60 and its 200 day moving average is $3.75.
About Trevi Therapeutics
(
Get Free Report)
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.
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