Trevi Therapeutics (NASDAQ:TRVI) Shares Down 6% – Should You Sell?

Trevi Therapeutics, Inc. (NASDAQ:TRVI) shares fell 6% during mid-day trading on Tuesday . The company traded as low as $14.97 and last traded at $14.9420. Approximately 312,210 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 1,687,127 shares. The stock had previously closed at $15.89.

Analyst Ratings Changes

A number of analysts have recently weighed in on TRVI shares. Cantor Fitzgerald upped their price target on shares of Trevi Therapeutics from $25.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. JonesTrading boosted their target price on Trevi Therapeutics from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Morgan Stanley restated an “overweight” rating and issued a $23.00 target price on shares of Trevi Therapeutics in a research report on Friday, August 7th. HC Wainwright increased their price target on Trevi Therapeutics from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, BMO Capital Markets assumed coverage on Trevi Therapeutics in a research report on Monday, July 20th. They set an “outperform” rating and a $36.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $27.08.

Trevi Therapeutics Trading Down 5.3%

The firm has a market capitalization of $2.14 billion, a P/E ratio of -44.37 and a beta of 1.04. The business’s fifty day moving average is $17.76 and its 200 day moving average is $15.25.

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

Institutional Investors Weigh In On Trevi Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Trevi Therapeutics during the 2nd quarter worth about $208,041,000. Wellington Management Group LLP increased its holdings in shares of Trevi Therapeutics by 9.5% in the 2nd quarter. Wellington Management Group LLP now owns 5,684,592 shares of the company’s stock valued at $106,018,000 after purchasing an additional 495,504 shares during the period. Eventide Asset Management LLC increased its holdings in shares of Trevi Therapeutics by 89.8% in the 4th quarter. Eventide Asset Management LLC now owns 2,622,306 shares of the company’s stock valued at $32,831,000 after purchasing an additional 1,240,982 shares during the period. Artia Global Partners LP purchased a new stake in shares of Trevi Therapeutics in the second quarter worth approximately $41,232,000. Finally, First Light Asset Management LLC purchased a new stake in shares of Trevi Therapeutics in the second quarter worth approximately $39,113,000. 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 medicines for chronic cough and other conditions involving dysregulated sensory nerve activity. The company’s lead product candidate is Haduvio, an oral extended-release formulation of nalbuphine designed to reduce chronic cough through activity at opioid receptors.

Trevi is studying Haduvio for chronic cough associated with idiopathic pulmonary fibrosis, a progressive lung disease, as well as refractory chronic cough, a condition in which coughing persists despite treatment of underlying causes.