Trevi Therapeutics, Inc. (NASDAQ:TRVI – Get Free Report) 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 – Get Free Report) 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
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.
Get Our Latest Research Report on TRVI
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.
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