Trevi Therapeutics, Inc. (NASDAQ:TRVI) Sees Significant Growth in Short Interest

Trevi Therapeutics, Inc. (NASDAQ:TRVI) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 4,680,000 shares, an increase of 23.5% from the February 28th total of 3,790,000 shares. Based on an average daily trading volume, of 1,840,000 shares, the short-interest ratio is currently 2.5 days. Approximately 8.1% of the shares of the company are sold short.

Wall Street Analyst Weigh In

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

Trevi Therapeutics Price Performance

Shares of TRVI opened at $6.28 on Thursday. The company has a 50-day moving average of $5.02 and a two-hundred day moving average of $3.94. The stock has a market cap of $607.16 million, a price-to-earnings ratio of -14.27 and a beta of 0.90. Trevi Therapeutics has a one year low of $2.30 and a one year high of $7.39.

Trevi Therapeutics (NASDAQ:TRVI) last released its earnings results on Tuesday, March 18th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.01. Analysts anticipate that Trevi Therapeutics will post -0.49 earnings per share for the current year.

Insider Activity at Trevi Therapeutics

In related news, insider Farrell Simon sold 81,313 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $6.75, for a total transaction of $548,862.75. Following the transaction, the insider now owns 76,900 shares of the company’s stock, valued at $519,075. This represents a 51.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jennifer L. Good sold 5,263 shares of the 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 transaction, the chief executive officer now owns 213,313 shares of the company’s stock, valued at $1,403,599.54. This represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. 24.37% of the stock is currently owned by insiders.

Institutional Trading of Trevi Therapeutics

Large investors have recently made changes to their positions in the stock. Intech Investment Management LLC acquired a new stake in shares of Trevi Therapeutics in the third quarter valued at about $63,000. BNP Paribas Financial Markets boosted its stake in 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 purchasing an additional 6,764 shares during the period. Fred Alger Management LLC acquired a new stake in Trevi Therapeutics in the 3rd quarter valued at approximately $256,000. State Street Corp increased its position in Trevi Therapeutics by 5.9% in the 3rd quarter. State Street Corp now owns 952,912 shares of the company’s stock worth $3,183,000 after buying an additional 53,051 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Trevi Therapeutics by 180.8% during the third quarter. Barclays PLC now owns 95,232 shares of the company’s stock worth $319,000 after buying an additional 61,317 shares during the last quarter. Institutional investors own 95.76% of the company’s stock.

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.