Short Interest in Trevi Therapeutics, Inc. (NASDAQ:TRVI) Increases By 32.6%

Trevi Therapeutics, Inc. (NASDAQ:TRVI) saw a large growth in short interest in 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 volume of 225,000 shares, the short-interest ratio is currently 5.6 days.

Trevi Therapeutics Trading Down 3.1 %

Shares of Trevi Therapeutics stock traded down $0.10 during trading on Monday, hitting $3.15. The stock had a trading volume of 195,722 shares, compared to its average volume of 254,047. The business has a fifty day moving average of $2.71 and a two-hundred day moving average of $2.61. Trevi Therapeutics has a fifty-two week low of $0.97 and a fifty-two week high of $4.00.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TRVI shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Trevi Therapeutics in a research note on Wednesday, May 8th. Rodman & Renshaw began coverage on Trevi Therapeutics in a report on Thursday, June 13th. They set a “buy” rating and a $7.00 price objective on the stock.

Insider Buying and Selling at Trevi Therapeutics

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Frazier Life Sciences Management L.P. raised its position in Trevi Therapeutics by 7.3% during 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 buying an additional 500,000 shares during the period. Opaleye Management Inc. raised its position in Trevi Therapeutics by 48.6% during the fourth quarter. Opaleye Management Inc. now owns 2,535,000 shares of the company’s stock valued at $3,397,000 after buying an additional 829,100 shares during the period. Oppenheimer & Co. Inc. acquired a new position in Trevi Therapeutics during the first quarter valued at $208,000. SG Americas Securities LLC raised its position in Trevi Therapeutics by 401.4% during the fourth quarter. SG Americas Securities LLC now owns 98,253 shares of the company’s stock valued at $132,000 after buying an additional 78,656 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Trevi Therapeutics by 38.8% during the second quarter. Bank of New York Mellon Corp now owns 178,511 shares of the company’s stock valued at $532,000 after buying an additional 49,884 shares during the period. 95.76% of the stock is owned by institutional investors and hedge funds.

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.