Trevi Therapeutics, Inc. (NASDAQ:TRVI – Get Rating) was the target of a significant decline in short interest in April. As of April 30th, there was short interest totalling 397,500 shares, a decline of 27.6% from the April 15th total of 548,900 shares. Based on an average daily volume of 1,170,000 shares, the days-to-cover ratio is presently 0.3 days. Approximately 11.7% of the shares of the stock are short sold.
In related news, major shareholder Paul Edward Walker purchased 3,580,526 shares of the company’s stock in a transaction that occurred on Monday, April 11th. The stock was acquired at an average price of $1.90 per share, with a total value of $6,802,999.40. Following the completion of the purchase, the insider now directly owns 10,421,428 shares in the company, valued at $19,800,713.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 47.30% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in TRVI. Citadel Advisors LLC bought a new stake in Trevi Therapeutics in the third quarter valued at approximately $25,000. Commonwealth Equity Services LLC bought a new stake in Trevi Therapeutics in the first quarter valued at approximately $33,000. Millennium Management LLC bought a new stake in Trevi Therapeutics in the fourth quarter valued at approximately $95,000. WealthTrust Axiom LLC boosted its holdings in Trevi Therapeutics by 245.6% in the first quarter. WealthTrust Axiom LLC now owns 98,500 shares of the company’s stock valued at $216,000 after acquiring an additional 70,000 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Trevi Therapeutics by 415.1% in the fourth quarter. Renaissance Technologies LLC now owns 337,400 shares of the company’s stock valued at $264,000 after acquiring an additional 271,900 shares during the last quarter. Institutional investors and hedge funds own 75.34% of the company’s stock.
Several brokerages have commented on TRVI. Zacks Investment Research raised Trevi Therapeutics from a “hold” rating to a “buy” rating and set a $2.25 target price for the company in a research note on Wednesday, March 23rd. Aegis began coverage on Trevi Therapeutics in a research note on Tuesday, March 29th. They set a “buy” rating and a $10.00 target price for the company.
Trevi Therapeutics stock opened at $2.21 on Friday. The business has a 50 day moving average of $2.35 and a 200-day moving average of $1.36. Trevi Therapeutics has a 1 year low of $0.46 and a 1 year high of $3.73. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.98 and a quick ratio of 2.98. The company has a market capitalization of $85.50 million, a P/E ratio of -1.64 and a beta of 0.31.
Trevi Therapeutics (NASDAQ:TRVI – Get Rating) last released its quarterly earnings data on Thursday, May 12th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.07. During the same period last year, the company posted ($0.43) earnings per share. Equities analysts anticipate that Trevi Therapeutics will post -0.79 EPS for the current year.
Trevi Therapeutics Company Profile (Get Rating)
Trevi Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of Haduvio to treat serious neurologically mediated conditions. The company is developing Haduvio, an oral extended-release formulation of nalbuphine, which is in phase IIb/III clinical trial for the treatment of chronic pruritus, chronic cough in patients with idiopathic pulmonary fibrosis.
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