Trevi Therapeutics (NASDAQ:TRVI) Sees Strong Trading Volume – Should You Buy?

Trevi Therapeutics, Inc. (NASDAQ:TRVI) shares saw an uptick in trading volume on Friday . 3,070,627 shares were traded during mid-day trading, an increase of 186% from the previous session’s volume of 1,072,749 shares.The stock last traded at $5.37 and had previously closed at $5.28.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $12.50 price objective on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Oppenheimer upped their price target on Trevi Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. D. Boral Capital reissued a “buy” rating and set a $21.00 price objective on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Needham & Company LLC restated a “buy” rating and issued a $24.00 target price on shares of Trevi Therapeutics in a report on Tuesday, April 8th. Finally, Raymond James raised shares of Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $9.00 to $29.00 in a research report on Monday, March 10th. Seven equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $17.56.

Trevi Therapeutics Price Performance

The company has a market capitalization of $537.55 million, a price-to-earnings ratio of -12.64 and a beta of 0.41. The business’s 50 day simple moving average is $5.30 and its 200 day simple moving average is $4.07.

Trevi Therapeutics (NASDAQ:TRVI) last issued 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, analysts expect that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal year.

Insider Buying and Selling

In other Trevi Therapeutics news, insider Farrell Simon sold 81,313 shares of the company’s stock in a transaction 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. This represents a 51.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jennifer L. Good sold 5,263 shares of Trevi Therapeutics stock in a transaction dated 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 in the company, 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. Corporate insiders own 24.37% of the company’s stock.

Hedge Funds Weigh In On Trevi Therapeutics

A number of large investors have recently modified their holdings of the business. Summit Investment Advisors Inc. raised its position in Trevi Therapeutics by 84.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company’s stock worth $26,000 after acquiring an additional 2,894 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Trevi Therapeutics by 2.1% during the 4th quarter. Bank of New York Mellon Corp now owns 140,219 shares of the company’s stock worth $578,000 after purchasing an additional 2,935 shares during the period. SG Americas Securities LLC increased its holdings in shares of Trevi Therapeutics by 14.5% in the 4th quarter. SG Americas Securities LLC now owns 26,792 shares of the company’s stock valued at $110,000 after purchasing an additional 3,387 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Trevi Therapeutics by 21.2% in the fourth quarter. Invesco Ltd. now owns 23,621 shares of the company’s stock valued at $97,000 after purchasing an additional 4,133 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Trevi Therapeutics by 32.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,166 shares of the company’s stock worth $104,000 after buying an additional 6,119 shares in the last quarter. 95.76% of the stock is owned by hedge funds and other institutional investors.

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.