Trevi Therapeutics (NASDAQ:TRVI) Stock Price Down 9.9% – Here’s What Happened

Trevi Therapeutics, Inc. (NASDAQ:TRVI)’s share price fell 9.9% on Monday . The stock traded as low as $11.71 and last traded at $11.98. 832,369 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 1,402,046 shares. The stock had previously closed at $13.30.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TRVI shares. D. Boral Capital restated a “buy” rating and set a $19.00 price objective on shares of Trevi Therapeutics in a research report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Trevi Therapeutics in a research note on Wednesday, January 21st. Oppenheimer reissued an “outperform” rating on shares of Trevi Therapeutics in a report on Monday. Leerink Partners boosted their price target on Trevi Therapeutics from $13.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday, November 19th. Finally, Stifel Nicolaus upped their price objective on Trevi Therapeutics from $15.00 to $18.00 and gave the company a “buy” rating in a report on Friday, December 19th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $21.10.

Trevi Therapeutics Trading Up 0.2%

The stock has a market capitalization of $1.51 billion, a P/E ratio of -31.72 and a beta of 0.94. The business has a 50-day moving average price of $11.23 and a two-hundred day moving average price of $10.79.

Institutional Investors Weigh In On Trevi Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of TRVI. China Universal Asset Management Co. Ltd. increased its holdings in Trevi Therapeutics by 4.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 21,346 shares of the company’s stock valued at $195,000 after buying an additional 911 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of Trevi Therapeutics by 20.5% during the 3rd quarter. Ameritas Investment Partners Inc. now owns 7,632 shares of the company’s stock worth $70,000 after acquiring an additional 1,300 shares in the last quarter. Kennedy Capital Management LLC boosted its position in shares of Trevi Therapeutics by 2.4% during the 4th quarter. Kennedy Capital Management LLC now owns 56,269 shares of the company’s stock worth $704,000 after acquiring an additional 1,336 shares in the last quarter. Persistent Asset Partners Ltd increased its stake in Trevi Therapeutics by 3.3% in the second quarter. Persistent Asset Partners Ltd now owns 42,788 shares of the company’s stock valued at $234,000 after acquiring an additional 1,384 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Trevi Therapeutics by 32.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,231 shares of the company’s stock valued at $78,000 after purchasing an additional 1,523 shares in the last quarter. Institutional investors own 95.76% of the company’s stock.

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.