Short Interest in Trevi Therapeutics, Inc. (NASDAQ:TRVI) Rises By 23.5%

Trevi Therapeutics, Inc. (NASDAQ:TRVI) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 4,680,000 shares, a growth of 23.5% from the February 28th total of 3,790,000 shares. Based on an average daily trading volume, of 1,840,000 shares, the days-to-cover ratio is presently 2.5 days. Approximately 8.1% of the company’s shares are short sold.

Analyst Ratings Changes

TRVI has been the subject of several recent analyst reports. 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 report on Wednesday, March 19th. D. Boral Capital reissued a “buy” rating and set a $21.00 target price on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. B. Riley reaffirmed a “buy” rating and issued a $20.00 price target (up previously from $11.00) on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Oppenheimer increased their price objective 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. Finally, Raymond James raised shares of Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $9.00 to $29.00 in a research note 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $17.56.

Insider Transactions at Trevi Therapeutics

In related news, insider Farrell Simon sold 81,313 shares of the business’s 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 in the company, valued at approximately $519,075. The trade was a 51.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jennifer L. Good sold 5,263 shares of the company’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 transaction of $34,630.54. Following the completion of the sale, the chief executive officer now directly 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. Corporate insiders own 24.37% of the company’s stock.

Institutional Trading of Trevi Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. grew its position in shares of Trevi Therapeutics by 84.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company’s stock valued at $26,000 after acquiring an additional 2,894 shares during the period. BNP Paribas Financial Markets grew its holdings 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 purchasing an additional 6,764 shares during the period. Raymond James Financial Inc. bought a new position in Trevi Therapeutics during the fourth quarter worth about $49,000. Squarepoint Ops LLC acquired a new position in Trevi Therapeutics during the fourth quarter worth approximately $58,000. Finally, Intech Investment Management LLC bought a new stake in Trevi Therapeutics in the third quarter valued at approximately $63,000. 95.76% of the stock is owned by institutional investors.

Trevi Therapeutics Price Performance

Trevi Therapeutics stock opened at $6.29 on Tuesday. The firm has a 50-day moving average of $4.92 and a 200-day moving average of $3.90. The company has a market cap of $608.13 million, a price-to-earnings ratio of -14.30 and a beta of 0.90. Trevi Therapeutics has a one year low of $2.30 and a one year high of $7.39.

Trevi Therapeutics (NASDAQ:TRVI) 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. As a group, sell-side analysts expect that Trevi Therapeutics will post -0.49 earnings per share for the current year.

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.