Trevi Therapeutics, Inc. (NASDAQ:TRVI) Short Interest Update

Trevi Therapeutics, Inc. (NASDAQ:TRVI) was the recipient of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 4,660,000 shares, an increase of 230.5% from the November 30th total of 1,410,000 shares. Based on an average daily volume of 1,660,000 shares, the days-to-cover ratio is currently 2.8 days.

Hedge Funds Weigh In On Trevi Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased 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 worth $40,000 after buying an additional 6,764 shares during the period. Intech Investment Management LLC purchased a new stake in Trevi Therapeutics during the 3rd quarter worth about $63,000. Hsbc Holdings PLC acquired a new position in shares of Trevi Therapeutics during the 2nd quarter worth about $61,000. SG Americas Securities LLC purchased a new position in shares of Trevi Therapeutics in the 3rd quarter valued at about $78,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Trevi Therapeutics by 87.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,524 shares of the company’s stock worth $73,000 after acquiring an additional 11,450 shares in the last quarter. Hedge funds and other institutional investors own 95.76% of the company’s stock.

Analyst Upgrades and Downgrades

TRVI has been the topic of a number of recent research reports. Raymond James started coverage on Trevi Therapeutics in a research note on Friday, August 30th. They set an “outperform” rating and a $9.00 price objective on the stock. B. Riley restated a “buy” rating and set a $6.00 price objective on shares of Trevi Therapeutics in a research report on Monday, October 7th. Leerink Partners assumed coverage on shares of Trevi Therapeutics in a report on Monday, September 9th. They issued an “outperform” rating and a $7.00 target price on the stock. HC Wainwright raised their price target on shares of Trevi Therapeutics from $6.00 to $7.50 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a report on Thursday, December 12th. Eight analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $9.31.

Trevi Therapeutics Price Performance

Shares of NASDAQ:TRVI traded up $0.11 during mid-day trading on Thursday, reaching $4.11. 121,338 shares of the company were exchanged, compared to its average volume of 615,593. Trevi Therapeutics has a 1 year low of $1.27 and a 1 year high of $4.68. The firm’s 50-day simple moving average is $3.16 and its 200 day simple moving average is $3.02. The firm has a market cap of $315.92 million, a price-to-earnings ratio of -9.34 and a beta of 0.96.

Trevi Therapeutics (NASDAQ:TRVI) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). During the same quarter last year, the business earned ($0.08) earnings per share. On average, research analysts forecast that Trevi Therapeutics will post -0.49 earnings per share for the current fiscal year.

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.