Short Interest in Trevi Therapeutics, Inc. (NASDAQ:TRVI) Declines By 17.0%

Trevi Therapeutics, Inc. (NASDAQ:TRVI) was the target of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 3,870,000 shares, a drop 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 days-to-cover ratio is currently 2.3 days.

Institutional Trading of Trevi Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its stake in shares of Trevi Therapeutics by 130.9% in the third quarter. BNP Paribas Financial Markets now owns 11,930 shares of the company’s stock valued at $40,000 after buying an additional 6,764 shares during the period. Hsbc Holdings PLC bought a new stake in shares of Trevi Therapeutics in the 2nd quarter worth approximately $61,000. Intech Investment Management LLC bought a new stake in shares of Trevi Therapeutics during the third quarter valued at approximately $63,000. The Manufacturers Life Insurance Company increased its position in shares of Trevi Therapeutics by 87.6% during the second 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 during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Trevi Therapeutics in the third quarter valued at $78,000. 95.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $8.00 target price on shares of Trevi Therapeutics in a research note on Thursday, December 12th. B. Riley reissued a “buy” rating and issued a $6.00 price objective on shares of Trevi Therapeutics in a research note on Monday, October 7th. D. Boral Capital reaffirmed a “buy” rating and set a $21.00 target price on shares of Trevi Therapeutics in a research note on Wednesday, January 8th. Finally, 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. Eight equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $9.31.

Trevi Therapeutics Trading Down 1.0 %

Shares of TRVI opened at $3.78 on Friday. Trevi Therapeutics has a one year low of $1.27 and a one year high of $4.68. The company’s fifty day moving average price is $3.48 and its 200 day moving average price is $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 company earned ($0.08) earnings per share. As a group, equities analysts predict that Trevi Therapeutics will post -0.49 EPS for the current 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.