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

Trevi Therapeutics, Inc. (NASDAQ:TRVI) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 3,870,000 shares, a decline of 17.0% from the December 15th total of 4,660,000 shares. Based on an average daily volume of 1,690,000 shares, the short-interest ratio is currently 2.3 days.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TRVI shares. D. Boral Capital reaffirmed a “buy” rating and set a $21.00 price target on shares of Trevi Therapeutics in a research report on Wednesday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 target price on shares of Trevi Therapeutics in a report on Thursday, December 12th. HC Wainwright boosted their price target on Trevi Therapeutics from $6.00 to $7.50 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, B. Riley restated a “buy” rating and issued a $6.00 price objective on shares of Trevi Therapeutics in a research report on Monday, October 7th. Eight investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $9.31.

Trevi Therapeutics Stock Up 0.3 %

Shares of Trevi Therapeutics stock traded up $0.01 on Thursday, reaching $3.83. The company’s stock had a trading volume of 103,628 shares, compared to its average volume of 575,325. Trevi Therapeutics has a 52-week low of $1.27 and a 52-week high of $4.68. The company has a market capitalization of $294.41 million, a P/E ratio of -8.70 and a beta of 0.87. The stock has a 50-day moving average price of $3.46 and a 200-day moving average price of $3.17.

Trevi Therapeutics (NASDAQ:TRVI) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01). During the same period in the prior year, the firm earned ($0.08) EPS. Sell-side analysts forecast that Trevi Therapeutics will post -0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased 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 worth $40,000 after buying an additional 6,764 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Trevi Therapeutics in the third quarter worth approximately $63,000. Hsbc Holdings PLC purchased a new stake in shares of Trevi Therapeutics during the second quarter worth approximately $61,000. SG Americas Securities LLC acquired a new position in Trevi Therapeutics in the 3rd quarter valued at $78,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Trevi Therapeutics by 87.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,524 shares of the company’s stock valued at $73,000 after purchasing an additional 11,450 shares in the last quarter. 95.76% of the stock is owned by hedge funds and other institutional investors.

Trevi Therapeutics Company Profile

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.