Trevi Therapeutics, Inc. (NASDAQ:TRVI) Sees Large Decline in Short Interest

Trevi Therapeutics, Inc. (NASDAQ:TRVI) saw a significant decrease in short interest in the month of January. As of January 15th, there was short interest totalling 3,870,000 shares, a decrease of 17.0% from the December 31st total of 4,660,000 shares. Based on an average daily trading volume, of 1,690,000 shares, the days-to-cover ratio is presently 2.3 days.

Trevi Therapeutics Price Performance

NASDAQ TRVI traded up $0.04 on Friday, hitting $3.94. 383,085 shares of the stock were exchanged, compared to its average volume of 504,529. The business’s fifty day moving average is $3.67 and its 200 day moving average is $3.25. Trevi Therapeutics has a 52 week low of $1.35 and a 52 week high of $4.68. The company has a market capitalization of $302.87 million, a PE ratio of -8.95 and a beta of 0.87.

Trevi Therapeutics (NASDAQ:TRVI) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). During the same period in the previous year, the company earned ($0.08) EPS. Analysts predict that Trevi Therapeutics will post -0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Trevi Therapeutics

A number of hedge funds have recently bought and sold shares of the business. American Century Companies Inc. boosted its position in Trevi Therapeutics by 17.1% during the 2nd quarter. American Century Companies Inc. now owns 54,108 shares of the company’s stock worth $161,000 after buying an additional 7,902 shares during the period. Dimensional Fund Advisors LP increased its stake in Trevi Therapeutics by 217.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 72,210 shares of the company’s stock valued at $215,000 after purchasing an additional 49,475 shares in the last quarter. Hsbc Holdings PLC bought a new stake in Trevi Therapeutics during the 2nd quarter valued at $61,000. The Manufacturers Life Insurance Company grew its stake in shares of Trevi Therapeutics by 87.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,524 shares of the company’s stock worth $73,000 after acquiring an additional 11,450 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Trevi Therapeutics in the 3rd quarter worth $78,000. 95.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TRVI. B. Riley reiterated a “buy” rating and issued a $6.00 price target on shares of Trevi Therapeutics in a report on Monday, October 7th. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price target on shares of Trevi Therapeutics in a report on Thursday, December 12th. HC Wainwright boosted their price objective on shares of Trevi Therapeutics from $6.00 to $7.50 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, D. Boral Capital reissued a “buy” rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a research report on Wednesday, January 8th. Eight research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $9.31.

Trevi Therapeutics Company Profile

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.