Trevi Therapeutics Inc (NASDAQ:TRVI) Sees Significant Drop in Short Interest

Trevi Therapeutics Inc (NASDAQ:TRVI) was the target of a significant decrease in short interest in the month of February. As of February 14th, there was short interest totalling 7,200 shares, a decrease of 72.4% from the January 30th total of 26,100 shares. Based on an average daily volume of 10,300 shares, the short-interest ratio is presently 0.7 days. Currently, 0.3% of the company’s shares are sold short.

Several hedge funds have recently added to or reduced their stakes in TRVI. Vanguard Group Inc. bought a new position in Trevi Therapeutics during the 2nd quarter valued at about $886,000. Stifel Financial Corp purchased a new position in shares of Trevi Therapeutics during the third quarter valued at approximately $111,000. Morgan Stanley purchased a new position in shares of Trevi Therapeutics during the second quarter valued at approximately $42,000. Finally, BlackRock Inc. bought a new position in shares of Trevi Therapeutics during the second quarter valued at approximately $26,000. 79.53% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research raised Trevi Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $18.00 target price on shares of Trevi Therapeutics in a research report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Trevi Therapeutics has an average rating of “Buy” and a consensus target price of $14.35.

Shares of Trevi Therapeutics stock traded up $0.07 during trading on Wednesday, hitting $5.80. The stock had a trading volume of 13,178 shares, compared to its average volume of 8,808. The firm’s fifty day simple moving average is $5.22 and its 200-day simple moving average is $4.39. Trevi Therapeutics has a 12 month low of $2.65 and a 12 month high of $10.62.

Trevi Therapeutics Company Profile

Trevi Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of nalbuphine ER to treat serious neurologically mediated conditions. The company's nalbuphine ER, which is in Phase IIb/III clinical trial is an oral extended release formulation of nalbuphine that is used for the treatment of chronic pruritus, chronic cough in patients with idiopathic pulmonary fibrosis, and levodopa-induced dyskinesia in patients with Parkinson's disease.

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