Stock Traders Buy High Volume of Call Options on Trevi Therapeutics (NASDAQ:TRVI)

Trevi Therapeutics, Inc. (NASDAQ:TRVI) was the target of some unusual options trading activity on Wednesday. Investors bought 13,996 call options on the company. This represents an increase of approximately 1,258% compared to the typical volume of 1,031 call options.

Hedge Funds Weigh In On Trevi Therapeutics

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

Trevi Therapeutics Price Performance

Shares of Trevi Therapeutics stock opened at $17.36 on Friday. Trevi Therapeutics has a 1 year low of $6.55 and a 1 year high of $20.15. The firm has a market cap of $2.46 billion, a PE ratio of -54.25 and a beta of 1.00. The stock has a fifty day moving average price of $15.76 and a 200-day moving average price of $13.29.

Trevi Therapeutics (NASDAQ:TRVI) last issued 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). As a group, equities analysts anticipate that Trevi Therapeutics will post -0.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TRVI shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $20.00 price objective on shares of Trevi Therapeutics in a research note on Wednesday, May 6th. D. Boral Capital reissued a “buy” rating and set a $19.00 target price on shares of Trevi Therapeutics in a research report on Friday, April 17th. Needham & Company LLC restated a “buy” rating and issued a $23.00 target price on shares of Trevi Therapeutics in a report on Wednesday, May 20th. Wall Street Zen raised shares of Trevi Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Trevi Therapeutics in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $22.67.

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.