Trevi Therapeutics (NASDAQ:TRVI) Shares Down 6.3% – Should You Sell?
by Danessa Lincoln · The Markets DailyTrevi Therapeutics, Inc. (NASDAQ:TRVI – Get Free Report) shares traded down 6.3% during trading on Friday . The stock traded as low as $11.64 and last traded at $11.7250. 825,789 shares were traded during trading, a decline of 55% from the average session volume of 1,845,445 shares. The stock had previously closed at $12.52.
Wall Street Analyst Weigh In
Several brokerages recently commented on TRVI. D. Boral Capital reaffirmed a “buy” rating and set a $19.00 price objective on shares of Trevi Therapeutics in a research note on Friday, November 14th. Stifel Nicolaus increased their price target on Trevi Therapeutics from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Morgan Stanley upped their price target on shares of Trevi Therapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. Leerink Partners increased their target price on shares of Trevi Therapeutics from $13.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 19th. Finally, B. Riley raised shares of Trevi Therapeutics to a “strong-buy” rating in a report on Monday, November 17th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Trevi Therapeutics currently has an average rating of “Buy” and a consensus price target of $21.10.
Get Our Latest Stock Report on TRVI
Trevi Therapeutics Trading Down 6.3%
The company has a market capitalization of $1.51 billion, a P/E ratio of -31.58 and a beta of 0.91. The company’s 50 day moving average is $12.12 and its 200-day moving average is $9.28.
Trevi Therapeutics (NASDAQ:TRVI – Get Free Report) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. Analysts predict that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings in shares of Trevi Therapeutics by 194.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock worth $25,000 after acquiring an additional 2,996 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Trevi Therapeutics by 15,969.1% during the second quarter. Farther Finance Advisors LLC now owns 8,838 shares of the company’s stock valued at $48,000 after purchasing an additional 8,783 shares in the last quarter. Strs Ohio purchased a new stake in Trevi Therapeutics during the first quarter valued at $52,000. Catalyst Funds Management Pty Ltd bought a new position in Trevi Therapeutics during the second quarter valued at $56,000. Finally, Rafferty Asset Management LLC purchased a new position in shares of Trevi Therapeutics in the 2nd quarter worth $60,000. Hedge funds and other institutional investors own 95.76% of the company’s stock.
About Trevi Therapeutics
Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel non-opioid therapies for the management of chronic and acute pain. The company leverages proprietary drug delivery platforms and targeted molecular approaches to address high unmet needs in cancer-related pain, chemotherapy-induced neuropathy and other severe pain conditions.
Its lead product candidate is a proprietary formulation of tetrodotoxin (TTX), a sodium-channel blocking agent being evaluated in early-stage clinical trials for moderate-to-severe pain associated with advanced cancer and peripheral neuropathy.