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Simon Farrell, the Chief Commercial Officer of Trevi Therapeutics, Inc. (NASDAQ:TRVI), recently sold a significant portion of his holdings in the company. On March 10, Farrell sold 81,313 shares of Trevi Therapeutics’ common stock, generating a total of $548,877. The shares were sold at prices ranging from $6.7276 to $7.1498 per share, according to a recent SEC filing. The sale comes amid the stock’s impressive 118% surge over the past year, with InvestingPro data showing particularly strong momentum in recent weeks, including a 44% gain in the past week alone.
In addition to the sales, Farrell also exercised stock options to acquire 112,563 shares at prices ranging from $0.511 to $3.91 per share. This activity was conducted under a Rule 10b5-1 trading plan, which provides a pre-determined schedule for buying and selling stocks. According to InvestingPro analysis, TRVI maintains a strong financial position with a healthy current ratio of 7.38, indicating robust liquidity.
Following these transactions, Farrell now holds 76,900 shares of Trevi Therapeutics. The transactions reflect ongoing strategic decisions as Trevi Therapeutics continues its work in pharmaceutical preparations, particularly in trials related to chronic cough and other conditions. With the company’s next earnings report due on March 18, investors seeking deeper insights can access comprehensive analysis and 13 additional ProTips through InvestingPro’s detailed research reports.
In other recent news, Trevi Therapeutics announced positive results from its Phase 2a RIVER trial for Haduvio, targeting refractory chronic cough (RCC). The trial met its primary endpoint, achieving a 67% reduction in 24-hour cough frequency from baseline and 57% when adjusted for placebo. Following these results, Trevi plans to engage with the FDA to discuss the next steps. Analysts have responded positively to these developments, with H.C. Wainwright raising their price target for Trevi to $12.50, while Rodman & Renshaw increased their target to $20.00, both maintaining a Buy rating. Leerink Partners also raised their price target to $11.00, citing Haduvio’s potential as a leading treatment in its class. Stifel maintained a Buy rating with a $12.00 target, highlighting the trial’s significant outcomes and Haduvio’s potential to treat a previously unserved patient population. The trial’s success has bolstered confidence in Haduvio’s efficacy and safety, distinguishing it from competing treatments. These developments underscore Trevi’s strategic focus on chronic cough associated with idiopathic pulmonary fibrosis (IPF) and RCC, with analysts optimistic about the drug’s market potential.
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