Trevi Therapeutics Inc’s Lock-Up Period To End on November 4th (NASDAQ:TRVI)

Trevi Therapeutics’ (NASDAQ:TRVI) lock-up period will end on Monday, November 4th. Trevi Therapeutics had issued 5,500,000 shares in its public offering on May 7th. The total size of the offering was $55,000,000 based on an initial share price of $10.00. After the end of Trevi Therapeutics’ lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Separately, Zacks Investment Research raised Trevi Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $16.75.

Trevi Therapeutics stock opened at $3.67 on Monday. Trevi Therapeutics has a 1-year low of $3.26 and a 1-year high of $10.62. The stock has a fifty day simple moving average of $4.40.

Trevi Therapeutics (NASDAQ:TRVI) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.63) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.41) by ($0.22). Research analysts expect that Trevi Therapeutics will post -2.44 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Trevi Therapeutics in the 2nd quarter worth $26,000. Morgan Stanley acquired a new stake in shares of Trevi Therapeutics in the 2nd quarter worth $42,000. Northern Trust Corp acquired a new stake in Trevi Therapeutics during the 2nd quarter worth about $124,000. Vanguard Group Inc. acquired a new stake in Trevi Therapeutics during the 2nd quarter worth about $886,000. Finally, Omega Fund Management LLC acquired a new stake in Trevi Therapeutics during the 2nd quarter worth about $9,476,000. 79.55% 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 nalbuphine ER to treat serious neurologically mediated conditions. The company's nalbuphine ER, which is in Phase IIb/III clinical trial is an oral extended release formulation of nalbuphine that is used for the treatment of chronic pruritus, chronic cough in patients with idiopathic pulmonary fibrosis, and levodopa-induced dyskinesia in patients with Parkinson's disease.

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