Stock Traders Purchase Large Volume of Trevi Therapeutics Call Options (NASDAQ:TRVI)

Trevi Therapeutics, Inc. (NASDAQ:TRVI) was the recipient of some unusual options trading activity on Tuesday. Stock investors purchased 5,103 call options on the stock. This represents an increase of 802% compared to the typical daily volume of 566 call options.

Trevi Therapeutics Stock Performance

Shares of Trevi Therapeutics stock opened at $6.30 on Thursday. Trevi Therapeutics has a one year low of $2.30 and a one year high of $7.39. The company has a market cap of $484.26 million, a PE ratio of -14.32 and a beta of 0.90. The business has a 50-day simple moving average of $4.26 and a 200-day simple moving average of $3.58.

Insider Activity at Trevi Therapeutics

In related news, insider Farrell Simon sold 81,313 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $6.75, for a total value of $548,862.75. Following the sale, the insider now directly owns 76,900 shares in the company, valued at approximately $519,075. The trade was a 51.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 24.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Trevi Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Summit Investment Advisors Inc. grew its position in shares of Trevi Therapeutics by 84.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company’s stock worth $26,000 after buying an additional 2,894 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Trevi Therapeutics by 130.9% in the third quarter. BNP Paribas Financial Markets now owns 11,930 shares of the company’s stock valued at $40,000 after purchasing an additional 6,764 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Trevi Therapeutics in the fourth quarter valued at approximately $49,000. Squarepoint Ops LLC acquired a new position in Trevi Therapeutics in the fourth quarter valued at approximately $58,000. Finally, Two Sigma Advisers LP acquired a new position in Trevi Therapeutics in the fourth quarter valued at approximately $66,000. 95.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TRVI shares. Raymond James raised Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $9.00 to $29.00 in a research report on Monday. HC Wainwright lifted their target price on Trevi Therapeutics from $7.50 to $12.50 and gave the company a “buy” rating in a research report on Monday. Needham & Company LLC lifted their target price on Trevi Therapeutics from $8.00 to $25.00 and gave the company a “buy” rating in a research report on Monday. D. Boral Capital reaffirmed a “buy” rating and issued a $21.00 target price on shares of Trevi Therapeutics in a research report on Friday, March 7th. Finally, Oppenheimer lifted their target price on Trevi Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday. Seven equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $15.94.

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.