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

Trevi Therapeutics, Inc. (NASDAQ:TRVI) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 4,660,000 shares, an increase of 230.5% from the November 30th total of 1,410,000 shares. Based on an average trading volume of 1,660,000 shares, the short-interest ratio is currently 2.8 days.

Wall Street Analysts Forecast Growth

TRVI has been the subject of several research reports. Needham & Company LLC restated a “buy” rating and set a $8.00 price objective on shares of Trevi Therapeutics in a research report on Thursday, December 12th. Leerink Partners started coverage on Trevi Therapeutics in a research note on Monday, September 9th. They set an “outperform” rating and a $7.00 price objective on the stock. HC Wainwright boosted their target price on shares of Trevi Therapeutics from $6.00 to $7.50 and gave the company a “buy” rating in a research note on Thursday, December 12th. Leerink Partnrs raised shares of Trevi Therapeutics to a “strong-buy” rating in a research note on Monday, September 9th. Finally, D. Boral Capital reissued a “buy” rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a research report on Thursday, December 12th. Eight research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $9.31.

Trevi Therapeutics Price Performance

NASDAQ:TRVI traded up $0.06 during trading hours on Friday, reaching $4.27. 757,357 shares of the company were exchanged, compared to its average volume of 617,921. The firm has a market cap of $328.22 million, a price-to-earnings ratio of -9.70 and a beta of 0.96. The stock has a 50 day simple moving average of $3.20 and a 200 day simple moving average of $3.04. Trevi Therapeutics has a 52-week low of $1.27 and a 52-week high of $4.68.

Trevi Therapeutics (NASDAQ:TRVI) last issued its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). During the same quarter in the previous year, the business posted ($0.08) earnings per share. On average, analysts predict that Trevi Therapeutics will post -0.49 EPS for the current fiscal year.

Institutional Trading of Trevi Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its stake in Trevi Therapeutics by 130.9% during the third 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 during the period. Hsbc Holdings PLC purchased a new stake in Trevi Therapeutics during the 2nd quarter worth $61,000. Intech Investment Management LLC acquired a new stake in Trevi Therapeutics in the 3rd quarter valued at $63,000. The Manufacturers Life Insurance Company raised its position in Trevi Therapeutics by 87.6% in 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 during the third quarter worth about $78,000. Institutional investors and hedge funds 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.