Trevi Therapeutics, Inc. (NASDAQ: TRVI) experienced a decline in its stock price by 9.9% on Monday, trading as low as $11.71 before closing at $11.98. The trading volume during midday reached approximately 832,369 shares, marking a significant decrease of 41% compared to the average daily volume of 1,402,046 shares. This downturn follows a previous closing price of $13.30.
Analyst Ratings Impact Trevi’s Stock Performance
Several analysts have recently provided updates on Trevi Therapeutics’ stock. Notably, HC Wainwright reaffirmed a “buy” rating for the company and set a target price of $21.00 in a report released on Monday. On November 19, Leerink Partners adjusted their price target from $13.00 to $16.00 and issued an “outperform” rating. Additionally, D. Boral Capital restated a “buy” rating with a price objective of $19.00 in a note dated January 8.
In a report on November 14, Oppenheimer raised their price objective from $23.00 to $24.00, also giving the stock an “outperform” rating. Finally, B. Riley Financial upgraded Trevi Therapeutics to a “strong-buy” rating in their report on November 17. Overall, the stock is rated with two “strong buy” ratings, eight “buy” ratings, and one “sell” rating, leading to an average rating of “buy” and a consensus price target of $21.10, according to data from MarketBeat.
Institutional Activity and Shareholder Composition
Recent changes in institutional holdings have also been noteworthy. China Universal Asset Management Co. Ltd. increased its stake in Trevi Therapeutics by 4.5% during the third quarter, now owning 21,346 shares valued at $195,000 after acquiring an additional 911 shares. Ameritas Investment Partners Inc. boosted its position by 20.5%, bringing its total to 7,632 shares worth $70,000 following the purchase of 1,300 shares.
Moreover, Kennedy Capital Management LLC increased its holdings by 2.4%, owning 56,269 shares valued at $704,000 after adding 1,336 shares. Persistent Asset Partners Ltd. raised its stake by 3.3%, now holding 42,788 shares valued at $234,000 after acquiring an additional 1,384 shares. Lastly, Mirae Asset Global Investments Co. Ltd. expanded its position by 32.3%, now owning 6,231 shares valued at $78,000.
Currently, institutional investors and hedge funds hold a substantial 95.76% of Trevi Therapeutics’ stock, reflecting strong interest from larger financial entities.
Trevi Therapeutics is a clinical-stage biopharmaceutical company dedicated to developing innovative non-opioid therapies aimed at managing chronic and acute pain. The company utilizes proprietary drug delivery platforms and targeted molecular approaches to address critical needs in cancer-related pain and chemotherapy-induced neuropathy. Its lead product candidate is a specialized formulation of tetrodotoxin (TTX), currently undergoing early-stage clinical trials for treating moderate-to-severe pain associated with advanced cancer and peripheral neuropathy.
