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

Trevi Therapeutics, Inc. (NASDAQ:TRVI) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 1,270,000 shares, a growth of 32.6% from the June 30th total of 957,600 shares. Based on an average daily trading volume, of 225,000 shares, the days-to-cover ratio is currently 5.6 days.

Trevi Therapeutics Trading Up 2.5 %

Shares of NASDAQ:TRVI traded up $0.08 during midday trading on Friday, reaching $3.25. 149,591 shares of the company’s stock traded hands, compared to its average volume of 325,662. Trevi Therapeutics has a one year low of $0.97 and a one year high of $4.00. The stock has a 50 day moving average of $2.71 and a 200 day moving average of $2.59.

Trevi Therapeutics (NASDAQ:TRVI) last issued its earnings results on Tuesday, May 7th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). Sell-side analysts expect that Trevi Therapeutics will post -0.42 earnings per share for the current year.

Insider Buying and Selling at Trevi Therapeutics

In other news, CEO Jennifer L. Good sold 25,037 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $2.86, for a total value of $71,605.82. Following the sale, the chief executive officer now directly owns 213,313 shares of the company’s stock, valued at approximately $610,075.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jennifer L. Good sold 25,037 shares of Trevi Therapeutics stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $2.86, for a total transaction of $71,605.82. Following the completion of the transaction, the chief executive officer now directly owns 213,313 shares in the company, valued at $610,075.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Sciascia sold 53,368 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $2.55, for a total value of $136,088.40. Following the completion of the sale, the insider now directly owns 214,433 shares in the company, valued at $546,804.15. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,333 shares of company stock valued at $232,454. 24.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRVI. Frazier Life Sciences Management L.P. lifted its holdings in Trevi Therapeutics by 7.3% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 7,381,090 shares of the company’s stock valued at $9,891,000 after acquiring an additional 500,000 shares during the period. Opaleye Management Inc. increased its position in shares of Trevi Therapeutics by 48.6% during the 4th quarter. Opaleye Management Inc. now owns 2,535,000 shares of the company’s stock valued at $3,397,000 after purchasing an additional 829,100 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Trevi Therapeutics in the 1st quarter worth approximately $208,000. SG Americas Securities LLC lifted its stake in shares of Trevi Therapeutics by 401.4% in the 4th quarter. SG Americas Securities LLC now owns 98,253 shares of the company’s stock worth $132,000 after purchasing an additional 78,656 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Trevi Therapeutics by 38.8% in the second quarter. Bank of New York Mellon Corp now owns 178,511 shares of the company’s stock worth $532,000 after buying an additional 49,884 shares during the last quarter. Institutional investors own 95.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TRVI. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price target on shares of Trevi Therapeutics in a research note on Wednesday, May 8th. Rodman & Renshaw began coverage on shares of Trevi Therapeutics in a research note on Thursday, June 13th. They issued a “buy” rating and a $7.00 target price on the 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.