Trevi Therapeutics, Inc. (NASDAQ:TRVI) Sees Large Decline in Short Interest

Trevi Therapeutics, Inc. (NASDAQ:TRVI) was the recipient of a large decline in short interest in January. As of January 15th, there was short interest totalling 3,870,000 shares, a decline of 17.0% from the December 31st total of 4,660,000 shares. Based on an average daily trading volume, of 1,690,000 shares, the short-interest ratio is currently 2.3 days.

Institutional Investors Weigh In On Trevi Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRVI. SG Americas Securities LLC increased its holdings in shares of Trevi Therapeutics by 14.5% in the fourth 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 during the period. BNP Paribas Financial Markets grew its holdings 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 acquiring an additional 6,764 shares during the period. American Century Companies Inc. grew its holdings in Trevi Therapeutics by 17.1% during the second quarter. American Century Companies Inc. now owns 54,108 shares of the company’s stock worth $161,000 after acquiring an additional 7,902 shares during the period. MAI Capital Management grew its holdings in Trevi Therapeutics by 0.7% during the third quarter. MAI Capital Management now owns 1,327,285 shares of the company’s stock worth $4,433,000 after acquiring an additional 8,789 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in Trevi Therapeutics by 87.6% during the second quarter. The Manufacturers Life Insurance Company now owns 24,524 shares of the company’s stock worth $73,000 after acquiring an additional 11,450 shares during the period. 95.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on TRVI. Needham & Company LLC reissued a “buy” rating and issued a $8.00 price target on shares of Trevi Therapeutics in a report on Thursday, December 12th. D. Boral Capital reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a research report on Wednesday, January 8th. B. Riley reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Trevi Therapeutics in a research report on Monday, October 7th. Finally, HC Wainwright upped their price objective on Trevi Therapeutics from $6.00 to $7.50 and gave the company a “buy” rating in a research report on Thursday, December 12th. Eight investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $9.31.

Trevi Therapeutics Stock Up 1.0 %

Shares of NASDAQ TRVI traded up $0.04 during mid-day trading on Friday, reaching $3.94. 383,085 shares of the company were exchanged, compared to its average volume of 504,529. The stock has a market cap of $302.87 million, a price-to-earnings ratio of -8.95 and a beta of 0.87. Trevi Therapeutics has a 1 year low of $1.35 and a 1 year high of $4.68. The firm has a 50-day moving average of $3.67 and a 200 day moving average of $3.25.

Trevi Therapeutics (NASDAQ:TRVI) last issued its quarterly earnings data 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 period in the previous year, the firm posted ($0.08) earnings per share. On average, equities analysts forecast that Trevi Therapeutics will post -0.49 earnings per share 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.