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

Trevi Therapeutics, Inc. (NASDAQ:TRVI) was the target of some unusual options trading on Tuesday. Stock investors acquired 5,103 call options on the company. This is an increase of 802% compared to the average daily volume of 566 call options.

Trevi Therapeutics Price Performance

Shares of NASDAQ TRVI opened at $6.30 on Wednesday. The company has a market capitalization of $484.26 million, a price-to-earnings ratio of -14.32 and a beta of 0.90. The business has a 50-day moving average of $4.22 and a two-hundred day moving average of $3.56. Trevi Therapeutics has a 1 year low of $2.30 and a 1 year high of $7.39.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TRVI. Oppenheimer lifted their price objective on Trevi Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday. D. Boral Capital reiterated a “buy” rating and issued a $21.00 target price on shares of Trevi Therapeutics in a report on Friday, March 7th. 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 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 report on Monday. Finally, Raymond James upgraded 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 report on Monday. Seven analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $15.94.

Institutional Trading of Trevi Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Frazier Life Sciences Management L.P. lifted its holdings in Trevi Therapeutics by 44.5% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company’s stock worth $43,939,000 after buying an additional 3,283,684 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Trevi Therapeutics during the 4th quarter worth about $17,099,000. Vivo Capital LLC increased its position in shares of Trevi Therapeutics by 116.3% during the fourth quarter. Vivo Capital LLC now owns 3,487,903 shares of the company’s stock worth $14,370,000 after purchasing an additional 1,875,000 shares in the last quarter. Woodline Partners LP increased its position in shares of Trevi Therapeutics by 429.9% during the fourth quarter. Woodline Partners LP now owns 3,212,597 shares of the company’s stock worth $13,236,000 after purchasing an additional 2,606,370 shares in the last quarter. Finally, MPM Bioimpact LLC increased its position in shares of Trevi Therapeutics by 101.2% during the fourth quarter. MPM Bioimpact LLC now owns 3,094,896 shares of the company’s stock worth $12,751,000 after purchasing an additional 1,556,379 shares in the last quarter. 95.76% of the stock is owned by hedge funds and other institutional investors.

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.