Short Interest in Trevi Therapeutics, Inc. (NASDAQ:TRVI) Declines By 17.0%

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its stake in shares of Trevi Therapeutics by 130.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,930 shares of the company’s stock worth $40,000 after buying an additional 6,764 shares in the last quarter. Intech Investment Management LLC bought a new stake in Trevi Therapeutics in the third quarter worth about $63,000. Hsbc Holdings PLC acquired a new position in shares of Trevi Therapeutics in the 2nd quarter worth approximately $61,000. SG Americas Securities LLC bought a new stake in shares of Trevi Therapeutics in the 3rd quarter worth approximately $78,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Trevi Therapeutics by 87.6% during the second quarter. The Manufacturers Life Insurance Company now owns 24,524 shares of the company’s stock valued at $73,000 after purchasing an additional 11,450 shares during the last quarter. Institutional investors and hedge funds own 95.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on TRVI. HC Wainwright raised their price objective on Trevi Therapeutics from $6.00 to $7.50 and gave the company a “buy” rating in a research note on Thursday, December 12th. D. Boral Capital restated a “buy” rating and issued a $21.00 price target on shares of Trevi Therapeutics in a research note on Wednesday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 price target on shares of Trevi Therapeutics in a report on Thursday, December 12th. Finally, B. Riley reissued a “buy” rating and set a $6.00 price objective on shares of Trevi Therapeutics in a report on Monday, October 7th. Eight equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $9.31.

Trevi Therapeutics Stock Down 1.0 %

TRVI opened at $3.78 on Friday. The business’s 50 day moving average is $3.48 and its 200-day moving average is $3.17. Trevi Therapeutics has a twelve month low of $1.27 and a twelve month high of $4.68.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). During the same period in the prior year, the business posted ($0.08) earnings per share. As a group, equities research analysts forecast that Trevi Therapeutics will post -0.49 earnings per share for the current year.

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.