Trevi Therapeutics, Inc. (NASDAQ:TRVI) CEO Jennifer L. Good sold a total of $18,371 worth of company stock, according to recent SEC filings. The transactions, which took place on September 6 and September 9, involved selling shares at prices ranging from $3.00 to $3.10 and from $3.010 to $3.085, respectively. The weighted average prices reported were $3.0302 and $3.0362 for each set of transactions.
On September 6, Good acquired 4,219 shares of common stock at $1.43 each and subsequently sold the same number of shares. A similar pattern occurred on September 9, where Good again acquired 1,840 shares at the same price per share and sold them. The total value for the shares acquired through these transactions amounted to $8,664.
These sales took place as part of planned transactions, which are common among corporate executives and are often scheduled in advance. It's important to note that the sales do not necessarily indicate a lack of confidence in the company's future prospects but are a normal part of personal financial management for individuals in such positions.
Investors and followers of Trevi Therapeutics will be keeping a close eye on the company's stock performance and any future transactions that may provide insights into the executive's view of the company's valuation.
In other recent news, Trevi Therapeutics has been making significant strides in its clinical trials for chronic cough and idiopathic pulmonary fibrosis (IPF) treatments. In the company's Second Quarter 2024 Earnings Conference Call, it reported a net loss of $12.4 million. Despite this, Trevi, with funding secured until 2026, continues to advance several trials. The RIVER trial for refractory chronic cough (RCC) is 80% enrolled, with key data expected by the end of 2024. The CORAL Phase 2b trial for IPF chronic cough is also actively enrolling, with topline data anticipated in the first half of 2025.
Analyst firms Raymond James, H.C. Wainwright, and EF Hutton have initiated coverage on Trevi Therapeutics with positive ratings. Raymond James assigned an Outperform rating, seeing a first-to-market opportunity for Trevi's Haduvio. H.C. Wainwright and EF Hutton both initiated coverage with a Buy rating, influenced by promising clinical data that suggests a reduced risk for the ongoing trials.
Trevi's Haduvio has shown promising results in a Phase 2a study, showing significant reductions in cough frequency. The drug is currently undergoing further studies, with data expected to be released in the coming years. These recent developments highlight Trevi Therapeutics' potential in addressing significant unmet medical needs in the treatment of chronic cough conditions.
InvestingPro Insights
In light of the recent stock transactions by Trevi Therapeutics, Inc. CEO Jennifer L. Good, insights from InvestingPro can provide a deeper understanding of the company's financial health and market position. With a market capitalization of $226.49 million and a negative P/E ratio of -7.96, reflecting the company's lack of profitability in the last twelve months, investors may be looking for signs of potential turnaround or growth.
One of the notable InvestingPro Tips is that Trevi Therapeutics holds more cash than debt on its balance sheet, which may offer some financial stability in the short term. Additionally, the company's liquid assets exceed its short-term obligations, suggesting that it has a cushion to manage its liabilities in the near future. However, analysts have revised their earnings downwards for the upcoming period, and the consensus view is that Trevi will not be profitable this year, as indicated by a negative operating income of -$43.17 million for the last twelve months as of Q2 2024.
Despite the CEO's recent stock sales, the company has experienced a strong return over the last three months, with a 20.9% price total return. This performance may catch the eye of investors looking for growth potential, even though the company does not pay dividends to shareholders. For a more comprehensive analysis, there are additional InvestingPro Tips available on InvestingPro, which can provide further guidance to investors monitoring Trevi Therapeutics' financial trajectory.
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