Trevi Therapeutics Sees Unusually High Options Volume (NASDAQ:TRVI)

Trevi Therapeutics, Inc. (NASDAQ:TRVI) saw some unusual options trading on Tuesday. Investors purchased 5,103 call options on the company. This is an increase of approximately 802% compared to the typical daily volume of 566 call options.

Institutional Trading of Trevi Therapeutics

Institutional investors have recently modified their holdings of the business. GSA Capital Partners LLP acquired a new stake in shares of Trevi Therapeutics in the third quarter valued at about $409,000. Oppenheimer & Co. Inc. lifted its position in shares of Trevi Therapeutics by 34.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 81,947 shares of the company’s stock valued at $274,000 after acquiring an additional 21,128 shares during the period. MAI Capital Management boosted its stake in shares of Trevi Therapeutics by 0.7% during the 3rd quarter. MAI Capital Management now owns 1,327,285 shares of the company’s stock worth $4,433,000 after acquiring an additional 8,789 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Trevi Therapeutics in the 3rd quarter worth approximately $63,000. Finally, BNP Paribas Financial Markets increased its stake in Trevi Therapeutics by 130.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,930 shares of the company’s stock valued at $40,000 after purchasing an additional 6,764 shares in the last quarter. 95.76% of the stock is currently owned by hedge funds and other institutional investors.

Trevi Therapeutics Stock Performance

NASDAQ:TRVI traded up $0.03 during mid-day trading on Tuesday, reaching $6.10. The stock had a trading volume of 1,062,088 shares, compared to its average volume of 1,970,479. Trevi Therapeutics has a twelve month low of $2.30 and a twelve month high of $7.39. The business has a 50 day simple moving average of $4.18 and a 200 day simple moving average of $3.54. The firm has a market capitalization of $468.88 million, a price-to-earnings ratio of -13.78 and a beta of 0.90.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TRVI shares. HC Wainwright boosted their price objective on Trevi Therapeutics from $7.50 to $12.50 and gave the company a “buy” rating in a report on Monday. Needham & Company LLC boosted their price target on shares of Trevi Therapeutics from $8.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday. Raymond James raised Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $9.00 to $29.00 in a research report on Monday. D. Boral Capital restated a “buy” rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a research note on Friday. Finally, Oppenheimer lifted their target price on Trevi Therapeutics from $12.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday. Seven equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $15.94.

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.