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

Trevi Therapeutics, Inc. (NASDAQ:TRVI) was the recipient of some unusual options trading activity on Tuesday. Stock investors purchased 7,500 call options on the company. This is an increase of 488% compared to the average daily volume of 1,275 call options.

Wall Street Analyst Weigh In

TRVI has been the topic of several research reports. HC Wainwright raised 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. Cantor Fitzgerald increased their target price on shares of Trevi Therapeutics from $25.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. BMO Capital Markets initiated coverage on Trevi Therapeutics in a research note on Monday, July 20th. They set an “outperform” rating and a $36.00 price target on the stock. Wall Street Zen downgraded Trevi Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, B. Riley Financial raised their price target on shares of Trevi Therapeutics from $21.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. 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 stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $27.08.

Trevi Therapeutics Price Performance

TRVI traded down $0.15 on Tuesday, reaching $13.57. 578,841 shares of the company’s stock were exchanged, compared to its average volume of 1,708,330. The stock’s fifty day moving average price is $16.77 and its 200-day moving average price is $15.53. The stock has a market cap of $1.93 billion, a PE ratio of -39.91 and a beta of 0.98. Trevi Therapeutics has a twelve month low of $9.28 and a twelve month high of $20.22.

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

Insider Activity at Trevi Therapeutics

In other Trevi Therapeutics news, Director Michael Heffernan sold 39,473 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $15.09, for a total value of $595,647.57. Following the transaction, the director directly owned 6,351 shares in the company, valued at $95,836.59. This represents a 86.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 15.39% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TRVI. BlackRock Inc. acquired a new position in shares of Trevi Therapeutics in the 2nd quarter valued at $208,041,000. Wellington Management Group LLP lifted its position in shares of Trevi Therapeutics by 9.5% during the 2nd quarter. Wellington Management Group LLP now owns 5,684,592 shares of the company’s stock valued at $106,018,000 after acquiring an additional 495,504 shares during the period. Artia Global Partners LP purchased a new stake in shares of Trevi Therapeutics in the 2nd quarter worth about $41,232,000. First Light Asset Management LLC purchased a new stake in Trevi Therapeutics in the 2nd quarter valued at approximately $39,113,000. Finally, Eventide Asset Management LLC boosted its stake in shares of Trevi Therapeutics by 89.8% during the 4th quarter. Eventide Asset Management LLC now owns 2,622,306 shares of the company’s stock worth $32,831,000 after purchasing an additional 1,240,982 shares during the last quarter. Hedge funds and other institutional investors own 95.76% of the company’s stock.

Trevi Therapeutics Company Profile

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for conditions involving chronic cough and other debilitating symptoms for which available treatment options are limited. The company’s lead product candidate is Haduvio, an extended-release formulation of nalbuphine, an opioid receptor modulator being investigated as a potential treatment for chronic cough.

Trevi is evaluating Haduvio for chronic cough associated with idiopathic pulmonary fibrosis (IPF), a progressive lung disease, as well as refractory chronic cough, which persists despite treatment of underlying conditions.