Short Interest in Trevi Therapeutics, Inc. (NASDAQ:TRVI) Grows By 230.5%

Trevi Therapeutics, Inc. (NASDAQ:TRVI) was the target of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 4,660,000 shares, an increase of 230.5% from the November 30th total of 1,410,000 shares. Based on an average daily trading volume, of 1,660,000 shares, the days-to-cover ratio is currently 2.8 days.

Trevi Therapeutics Trading Up 3.1 %

Shares of TRVI traded up $0.13 during trading hours on Friday, reaching $4.34. 384,317 shares of the stock traded hands, compared to its average volume of 616,366. Trevi Therapeutics has a 52 week low of $1.27 and a 52 week high of $4.68. The company has a market cap of $333.60 million, a price-to-earnings ratio of -9.86 and a beta of 0.96. The stock has a fifty day simple moving average of $3.18 and a 200 day simple moving average of $3.03.

Trevi Therapeutics (NASDAQ:TRVI) last posted its earnings results on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01). During the same period in the previous year, the company earned ($0.08) EPS. Analysts predict that Trevi Therapeutics will post -0.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TRVI has been the subject of a number of research reports. HC Wainwright raised their price objective on Trevi Therapeutics from $6.00 to $7.50 and gave the company a “buy” rating in a research note on Thursday, December 12th. Needham & Company LLC reissued a “buy” rating and issued a $8.00 price target on shares of Trevi Therapeutics in a research report on Thursday, December 12th. B. Riley restated a “buy” rating and set a $6.00 price objective on shares of Trevi Therapeutics in a report on Monday, October 7th. Leerink Partners began coverage on shares of Trevi Therapeutics in a research note on Monday, September 9th. They issued an “outperform” rating and a $7.00 price objective on the stock. Finally, D. Boral Capital reissued a “buy” rating and set a $21.00 target price on shares of Trevi Therapeutics in a research report on Thursday, December 12th. Eight research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $9.31.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TRVI. BNP Paribas Financial Markets raised its stake in shares of Trevi Therapeutics by 130.9% during the 3rd 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. American Century Companies Inc. raised its position in Trevi Therapeutics by 17.1% in the second quarter. American Century Companies Inc. now owns 54,108 shares of the company’s stock worth $161,000 after acquiring an additional 7,902 shares during the period. MAI Capital Management raised its position in Trevi Therapeutics by 0.7% in the third 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 during the period. The Manufacturers Life Insurance Company boosted its stake in Trevi Therapeutics by 87.6% in the second quarter. The Manufacturers Life Insurance Company now owns 24,524 shares of the company’s stock valued at $73,000 after acquiring an additional 11,450 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Trevi Therapeutics during the 3rd quarter valued at approximately $63,000. Hedge funds and other 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.