Trevi Therapeutics (NASDAQ:TRVI) Sees Unusually-High Trading Volume – Here’s Why

Trevi Therapeutics, Inc. (NASDAQ:TRVI) shares saw unusually-strong trading volume on Friday . Approximately 3,070,627 shares traded hands during 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.

Analysts Set New Price Targets

TRVI has been the topic of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and set a $12.50 target price on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Needham & Company LLC reissued a “buy” rating and issued a $24.00 price objective on shares of Trevi Therapeutics in a research note on Tuesday, April 8th. Raymond James upgraded shares of Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $9.00 to $29.00 in a research report on Monday, March 10th. D. Boral Capital reiterated a “buy” rating and issued a $21.00 price target on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Finally, Oppenheimer lifted their price objective on Trevi Therapeutics from $12.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 11th. Seven research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $17.56.

Trevi Therapeutics Price Performance

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

Trevi Therapeutics (NASDAQ:TRVI) last posted its quarterly earnings data on Tuesday, March 18th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.01. Analysts predict that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal year.

Insider Buying and Selling at Trevi Therapeutics

In related news, CEO Jennifer L. Good sold 5,263 shares of the firm’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 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. This trade represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the insider now owns 76,900 shares of the company’s stock, valued at approximately $519,075. The trade was a 51.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Frazier Life Sciences Management L.P. increased its stake in Trevi Therapeutics by 44.5% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company’s stock worth $43,939,000 after acquiring an additional 3,283,684 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Trevi Therapeutics during the 4th quarter worth approximately $17,099,000. Vivo Capital LLC raised its holdings in Trevi Therapeutics by 116.3% in the fourth quarter. Vivo Capital LLC now owns 3,487,903 shares of the company’s stock valued at $14,370,000 after buying an additional 1,875,000 shares during the period. Woodline Partners LP lifted its position in Trevi Therapeutics by 429.9% during the fourth quarter. Woodline Partners LP now owns 3,212,597 shares of the company’s stock valued at $13,236,000 after buying an additional 2,606,370 shares in the last quarter. Finally, MPM Bioimpact LLC grew its stake in Trevi Therapeutics by 101.2% during the fourth quarter. MPM Bioimpact LLC now owns 3,094,896 shares of the company’s stock worth $12,751,000 after buying an additional 1,556,379 shares during the period. 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.