Trevi Therapeutics (NASDAQ:TRVI) Shares Down 5.1% – Here’s Why

Trevi Therapeutics, Inc. (NASDAQ:TRVI)’s stock price dropped 5.1% during trading on Monday . The stock traded as low as $18.03 and last traded at $18.0940. Approximately 614,317 shares were traded during trading, a decline of 64% from the average session volume of 1,723,184 shares. The stock had previously closed at $19.07.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. HC Wainwright increased their price objective on shares of Trevi Therapeutics from $21.00 to $24.00 and gave the company a “buy” rating in a report on Monday. B. Riley Financial increased their price target on Trevi Therapeutics from $21.00 to $31.00 and gave the company a “buy” rating in a research note on Monday. Needham & Company LLC restated a “buy” rating and issued a $23.00 price target on shares of Trevi Therapeutics in a research report on Wednesday, May 20th. Stifel Nicolaus set a $30.00 price objective on Trevi Therapeutics in a research note on Friday, May 8th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $20.00 price objective on shares of Trevi Therapeutics in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.80.

Trevi Therapeutics Price Performance

The company’s 50 day simple moving average is $15.85 and its 200 day simple moving average is $13.33. The stock has a market cap of $2.49 billion, a P/E ratio of -54.78 and a beta of 1.00.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). On average, equities research analysts predict that Trevi Therapeutics, Inc. will post -0.47 earnings per share for the current year.

Institutional Investors Weigh In On Trevi Therapeutics

Hedge funds have recently modified their holdings of the business. Nan Fung Trinity HK Ltd. increased its stake in Trevi Therapeutics by 924.2% in the 4th quarter. Nan Fung Trinity HK Ltd. now owns 917,450 shares of the company’s stock valued at $11,486,000 after buying an additional 827,875 shares during the last quarter. F m Investments LLC acquired a new position in shares of Trevi Therapeutics during the 4th quarter worth about $3,023,000. Pictet Asset Management Holding SA grew its holdings in shares of Trevi Therapeutics by 13,507.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,532,013 shares of the company’s stock valued at $19,181,000 after acquiring an additional 1,520,754 shares in the last quarter. Candriam S.C.A. acquired a new stake in shares of Trevi Therapeutics in the first quarter valued at about $9,229,000. Finally, Comerica Bank raised its holdings in Trevi Therapeutics by 19,481.8% during the fourth quarter. Comerica Bank now owns 83,027 shares of the company’s stock worth $1,039,000 after acquiring an additional 82,603 shares in the last quarter. Institutional investors and hedge funds own 95.76% of the company’s stock.

About Trevi Therapeutics

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel non-opioid therapies for the management of chronic and acute pain. The company leverages proprietary drug delivery platforms and targeted molecular approaches to address high unmet needs in cancer-related pain, chemotherapy-induced neuropathy and other severe pain conditions.

Its lead product candidate is a proprietary formulation of tetrodotoxin (TTX), a sodium-channel blocking agent being evaluated in early-stage clinical trials for moderate-to-severe pain associated with advanced cancer and peripheral neuropathy.