Stock Traders Purchase Large Volume of Trevi Therapeutics Call Options (NASDAQ:TRVI)

Trevi Therapeutics, Inc. (NASDAQ:TRVI) was the recipient of some unusual options trading on Tuesday. Investors purchased 5,103 call options on the company. This is an increase of 802% compared to the typical volume of 566 call options.

Trevi Therapeutics Price Performance

Shares of TRVI stock opened at $6.30 on Thursday. The business’s fifty day moving average price is $4.26 and its 200 day moving average price is $3.58. Trevi Therapeutics has a 1-year low of $2.30 and a 1-year high of $7.39. The firm has a market capitalization of $484.26 million, a PE ratio of -14.32 and a beta of 0.90.

Insider Activity at Trevi Therapeutics

In other Trevi Therapeutics news, insider Farrell Simon sold 81,313 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $6.75, for a total value of $548,862.75. Following the completion of the sale, the insider now owns 76,900 shares in the company, valued at approximately $519,075. The trade was a 51.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 24.37% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TRVI. Summit Investment Advisors Inc. grew its holdings in 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 last quarter. BNP Paribas Financial Markets boosted its stake in shares of Trevi Therapeutics by 130.9% during the third 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. Raymond James Financial Inc. acquired a new stake in shares of Trevi Therapeutics during the fourth quarter valued at $49,000. Squarepoint Ops LLC acquired a new stake in shares of Trevi Therapeutics during the fourth quarter valued at $58,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Trevi Therapeutics during the third quarter valued at $63,000. Institutional investors and hedge funds own 95.76% of the company’s stock.

Analysts Set New Price Targets

TRVI has been the subject of a number of research reports. Oppenheimer boosted their price objective on Trevi Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday. Needham & Company LLC upped their price target on Trevi Therapeutics from $8.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday. HC Wainwright upped their price target on Trevi Therapeutics from $7.50 to $12.50 and gave the stock a “buy” rating in a research note on Monday. Raymond James upgraded Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $9.00 to $29.00 in a research note on Monday. Finally, D. Boral Capital restated a “buy” rating and set a $21.00 price target on shares of Trevi Therapeutics in a research note on Friday, March 7th. Seven investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Trevi Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $15.94.

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.