Trevi Therapeutics (NASDAQ:TRVI) Shares Gap Down – Time to Sell?

Trevi Therapeutics, Inc. (NASDAQ:TRVI)’s share price gapped down before the market opened 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 traded.

Analyst Ratings Changes

TRVI has been the topic of several analyst reports. Oppenheimer lifted their target price on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. Needham & Company LLC lowered their price objective on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. B. Riley reiterated a “buy” rating and set a $20.00 target price (up previously from $11.00) on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. HC Wainwright reissued a “buy” rating and issued a $12.50 price target on shares of Trevi Therapeutics in a report on Wednesday, March 19th. 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 report on Monday, March 10th. Seven analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $17.56.

Trevi Therapeutics Price Performance

The firm has a market cap of $607.16 million, a PE ratio of -14.27 and a beta of 0.90. The business has a 50-day moving average price of $5.02 and a two-hundred day moving average price of $3.94.

Trevi Therapeutics (NASDAQ:TRVI) last announced its earnings results on Tuesday, March 18th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. Equities analysts expect that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current fiscal year.

Insider Activity at Trevi Therapeutics

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TRVI. Summit Investment Advisors Inc. grew its position in shares of Trevi Therapeutics by 84.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company’s stock valued at $26,000 after purchasing an additional 2,894 shares during the period. BNP Paribas Financial Markets boosted 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 worth $40,000 after buying an additional 6,764 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Trevi Therapeutics in the 4th quarter valued at about $49,000. Squarepoint Ops LLC acquired a new position in shares of Trevi Therapeutics during the 4th quarter valued at about $58,000. Finally, Two Sigma Advisers LP purchased a new position in shares of Trevi Therapeutics during the 4th quarter worth about $66,000. 95.76% of the stock is currently owned by institutional investors and hedge funds.

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.