Trevi Therapeutics (NASDAQ:TRVI) Stock Price Down 9.3% – Here’s What Happened

Trevi Therapeutics, Inc. (NASDAQ:TRVI) shares fell 9.3% during mid-day trading on Monday . The company traded as low as $5.52 and last traded at $5.49. 464,875 shares changed hands during trading, a decline of 76% from the average session volume of 1,923,600 shares. The stock had previously closed at $6.05.

Analysts Set New Price Targets

A number of research analysts have weighed in on TRVI shares. D. Boral Capital reaffirmed a “buy” rating and set a $21.00 price target on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. B. Riley reiterated a “buy” rating and set a $20.00 target price (up from $11.00) on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Oppenheimer increased their target price on Trevi Therapeutics from $12.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. Raymond James raised shares of Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $9.00 to $29.00 in a report on Monday, March 10th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $12.50 target price on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Seven investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $17.56.

Trevi Therapeutics Stock Performance

The stock has a 50 day moving average price of $5.25 and a 200 day moving average price of $4.04. The company has a market cap of $522.08 million, a P/E ratio of -12.27 and a beta of 0.41.

Trevi Therapeutics (NASDAQ:TRVI) last posted its quarterly earnings results on Tuesday, March 18th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.01. As a group, equities research analysts predict that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current year.

Insider Activity at Trevi Therapeutics

In other Trevi Therapeutics news, insider Farrell Simon sold 81,313 shares of the company’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 value of $548,862.75. Following the transaction, the insider now owns 76,900 shares in the company, valued at approximately $519,075. This represents a 51.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jennifer L. Good sold 5,263 shares of Trevi Therapeutics stock in a transaction on Friday, March 21st. The shares were 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 of the company’s stock, valued at approximately $1,403,599.54. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. 24.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Trevi Therapeutics

A number of large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets increased its holdings 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 valued at $40,000 after acquiring an additional 6,764 shares during the last quarter. State Street Corp grew its holdings in Trevi Therapeutics by 5.9% during the third quarter. State Street Corp now owns 952,912 shares of the company’s stock valued at $3,183,000 after purchasing an additional 53,051 shares during the last quarter. Barclays PLC raised its position in shares of Trevi Therapeutics by 180.8% in the third quarter. Barclays PLC now owns 95,232 shares of the company’s stock valued at $319,000 after purchasing an additional 61,317 shares during the period. Geode Capital Management LLC lifted its stake in shares of Trevi Therapeutics by 10.2% in the third quarter. Geode Capital Management LLC now owns 1,264,166 shares of the company’s stock worth $4,223,000 after buying an additional 117,418 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Trevi Therapeutics by 220.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 100,517 shares of the company’s stock worth $336,000 after buying an additional 69,167 shares during the period. 95.76% of the stock is currently owned by institutional investors.

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.