Trevi Therapeutics (NASDAQ:TRVI) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

Trevi Therapeutics, Inc. (NASDAQ:TRVI)’s share price crossed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $14.27 and traded as high as $14.36. Trevi Therapeutics shares last traded at $14.33, with a volume of 2,539,464 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TRVI. Raymond James Financial restated a “strong-buy” rating and set a $40.00 price target on shares of Trevi Therapeutics in a research report on Friday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Trevi Therapeutics in a research note on Thursday, October 15th. Oppenheimer reissued an “outperform” rating on shares of Trevi Therapeutics in a research note on Friday, September 25th. HC Wainwright lifted their price objective on shares of Trevi Therapeutics from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, Morgan Stanley restated an “overweight” rating and set a $23.00 target price on shares of Trevi Therapeutics in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $27.08.

Trevi Therapeutics Trading Up 11.9%

The business’s 50 day moving average price is $14.27 and its two-hundred day moving average price is $14.39. The stock has a market cap of $2.04 billion, a P/E ratio of -42.15 and a beta of 1.15.

Trevi Therapeutics (NASDAQ:TRVI) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). As a group, analysts expect that Trevi Therapeutics, Inc. will post -0.48 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Michael Heffernan sold 39,473 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $15.09, for a total value of $595,647.57. Following the completion of the transaction, the director owned 6,351 shares of the company’s stock, valued at approximately $95,836.59. This trade represents a 86.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.39% of the stock is currently owned by company insiders.

Institutional Trading of Trevi Therapeutics

Several hedge funds have recently added to or reduced their stakes in TRVI. Diversified Trust Co lifted its holdings in shares of Trevi Therapeutics by 21.5% during the third quarter. Diversified Trust Co now owns 28,549 shares of the company’s stock valued at $409,000 after purchasing an additional 5,053 shares during the last quarter. Nan Fung Trinity HK Ltd. boosted its stake in Trevi Therapeutics by 943.5% in the 3rd quarter. Nan Fung Trinity HK Ltd. now owns 1,082,890 shares of the company’s stock valued at $15,507,000 after buying an additional 979,115 shares in the last quarter. Candriam S.C.A. grew its holdings in Trevi Therapeutics by 35.4% in the 3rd quarter. Candriam S.C.A. now owns 1,308,104 shares of the company’s stock valued at $18,800,000 after buying an additional 341,885 shares in the last quarter. AlphaCentric Advisors LLC grew its position in shares of Trevi Therapeutics by 4.3% during the 3rd quarter. AlphaCentric Advisors LLC now owns 25,370 shares of the company’s stock valued at $363,000 after acquiring an additional 1,053 shares during the period. Finally, CenterBook Partners LP purchased a new position in Trevi Therapeutics in the 3rd quarter worth approximately $280,000. 95.76% of the stock is owned by institutional investors and hedge funds.

Trevi Therapeutics Company Profile

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for chronic conditions that have limited therapeutic options. The company’s lead product candidate is Haduvio, an oral extended-release formulation of nalbuphine, an opioid receptor modulator designed to combine kappa-opioid receptor agonism with mu-opioid receptor antagonism.

Trevi is evaluating Haduvio in conditions involving chronic cough and severe itching. Its clinical development programs have included studies in chronic cough associated with idiopathic pulmonary fibrosis, a progressive lung disease, and chronic pruritus associated with systemic sclerosis, an autoimmune connective-tissue disorder.