Trevi Therapeutics, Inc. (NASDAQ:TRVI – Get Free Report)’s share price rose 4.4% during mid-day trading on Tuesday . The stock traded as high as $6.80 and last traded at $6.83. Approximately 486,472 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 961,566 shares. The stock had previously closed at $6.54.
Wall Street Analysts Forecast Growth
TRVI has been the subject of several research reports. D. Boral Capital reissued a “buy” rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a research report on Friday, March 7th. Raymond James raised shares of Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $9.00 to $29.00 in a research report on Monday, March 10th. Needham & Company LLC boosted their price objective on shares of Trevi Therapeutics from $8.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Oppenheimer boosted their price objective on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday, March 11th. Finally, HC Wainwright upped their price target on shares of Trevi Therapeutics from $7.50 to $12.50 and gave the stock a “buy” rating in a research report on Monday, March 10th. Seven investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $15.94.
Get Our Latest Analysis on TRVI
Trevi Therapeutics Stock Performance
Insider Buying and Selling
In related news, insider Farrell Simon sold 81,313 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $6.75, for a total transaction of $548,862.75. Following the completion of the transaction, the insider now owns 76,900 shares in the company, valued at $519,075. The trade was a 51.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 24.37% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of TRVI. Summit Investment Advisors Inc. increased its stake in Trevi Therapeutics by 84.2% during the 4th 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 in the last quarter. Bank of New York Mellon Corp increased its stake in Trevi Therapeutics by 2.1% during the 4th quarter. Bank of New York Mellon Corp now owns 140,219 shares of the company’s stock valued at $578,000 after purchasing an additional 2,935 shares in the last quarter. SG Americas Securities LLC increased its stake in Trevi Therapeutics by 14.5% during the 4th quarter. SG Americas Securities LLC now owns 26,792 shares of the company’s stock valued at $110,000 after purchasing an additional 3,387 shares in the last quarter. Invesco Ltd. increased its stake in Trevi Therapeutics by 21.2% during the 4th quarter. Invesco Ltd. now owns 23,621 shares of the company’s stock valued at $97,000 after purchasing an additional 4,133 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Trevi Therapeutics by 32.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,166 shares of the company’s stock valued at $104,000 after purchasing an additional 6,119 shares in 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.
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