TREVI THERAPEUTICS INC (TRVI)
Health Care · biotechnology · NASDAQ
Trevi Therapeutics is a clinical-stage biopharma company developing its lead product candidate, Haduvio, to treat challenging chronic pruritus and chronic cough conditions.
What TREVI THERAPEUTICS INC does
Trevi Therapeutics is a clinical-stage biopharmaceutical company focused on developing therapies for chronic pruritus and chronic cough conditions. Its primary product candidate is Haduvio (nalbuphine ER), an oral extended-release formulation of nalbuphine designed to treat neurological and dermatological conditions. The company is evaluating its lead candidate in clinical trials for conditions such as chronic pruritus in patients with prurigo nodularis and chronic cough in patients with idiopathic pulmonary fibrosis.
Themes: chronic pruritus, chronic cough, prurigo nodularis, idiopathic pulmonary fibrosis, clinical-stage biotechnology
Fundamentals
- Price$12.77 as of 2026-10-21 close
- Market cap$1.8B as of 2026-07-31 (share count; price 2026-10-21)
- 1-year return+19.9% 2025-10-21 close $10.65 → 2026-10-21 close $12.77
- P/En/a negative earnings
- ROE-23.3% FY2025, SEC XBRL
- ROICn/a No figure: its pre-tax income was zero or negative, so there is no tax rate to apply.
- Debt / equityn/a No figure: its filing tags none of the debt lines we read, which is not evidence of zero debt.
- Beta0.50 as of 2026-09-02
- Last reported earnings2026-08-06 SEC EDGAR Form 8-K (Item 2.02)
How TRVI compares in its sector
- return on equitymiddle range 510 covered Health Care peers, as of 2026-09-02
- free cash flow (absolute dollars, latest fiscal year)middle range 494 covered Health Care peers, as of FY2025
Position among covered Health Care companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
Quarterly results
| Quarter | Operating income | Net income | Diluted EPS | Operating cash flow | Capex |
|---|---|---|---|---|---|
| Q2 FY2026 2026-06-30 | -$21M | -$18M | -$0.11 | -$17M† | $124000† |
| Q1 FY2026 2026-03-31 | -$15M | -$13M | -$0.09 | -$17M | $102000 |
| Q4 FY2025 2025-12-31 | -$10M† | -$8M† | -$0.06† | -$8M† | $0† |
| Q3 FY2025 2025-09-30 | -$14M | -$12M | -$0.08 | -$11M† | $12000† |
| Q2 FY2025 2025-06-30 | -$14M | -$12M | -$0.09 | -$10M† | — |
| Q1 FY2025 2025-03-31 | -$11M | -$10M | -$0.09 | -$13M | — |
| Q4 FY2024 2024-12-31 | -$12M† | -$11M† | -$0.11† | -$10M† | $7000† |
| Q3 FY2024 2024-09-30 | -$14M | -$13M | -$0.13 | -$10M† | $0† |
† Not filed as a discrete quarter: derived from the company's own year-to-date figures (for example the fourth quarter as the fiscal year minus the first nine months). A derived per-share figure is approximate, because the share count moves within the year.
Balance sheet at 2026-06-30
- Cash and equivalents$54M
- Short-term investments$265M
- Total debtnot shown the filing tags none of the debt lines we read — not evidence of zero debt
From the company's own SEC 10-Q and 10-K filings (XBRL), re-read every week. Figures in US dollars as filed; informational only — not financial advice.
How TREVI THERAPEUTICS INC looks technically
TREVI THERAPEUTICS INC (TRVI) is trading 10.4% below its 200-day average, the long-term trend line — a long-term downtrend. Its 50-day average crossed above its 200-day average about 649 trading days ago — a "golden cross", a bullish long-term signal. A strong downtrend is in place — ADX, a 0–100 trend-strength gauge, is 47, with sellers in control. Momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 37, neither overbought (above 70) nor oversold (below 30). MACD, a trend-momentum gauge, turned bullish about 2 trading days ago (its momentum flipped positive). It made a new 20-day low about 4 trading days ago. It is 36.8% below its highest point of the past year.
Trend
8
| Distance from the 200-day | it is trading 10.4% below its 200-day average, the long-term trend line — a long-term downtrend | -10.4% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $15.42 | $15.42 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $14.25 | $14.25 |
| Swing structure | each recent peak has been lower than the one before it and each dip deeper — the pattern chart-watchers call a downtrend, which describes where price has already been and not where it goes next | lower highs and lower lows |
| Last swing turn | its last significant turn was a swing low 27 calendar days ago — the swings before that are what the structure reading is measured on | 27 sessions |
| Wave structure | its recent swings can be read as a five-part downward sequence — what Elliott-wave chartists call an impulse — now in the fourth leg, a pullback against that downward direction; the labelling fails if price closes above 17.52. It is the only labelling that fits, though not with textbook proportions, and it describes the swings already printed, not what comes next. | possible downward five-wave sequence, in wave 4 (atypical proportions) |
| Since the 50/200 cross | its 50-day average crossed above its 200-day average about 649 trading days ago — a "golden cross", a bullish long-term signal | 649 sessions |
| Trend strength (14-day ADX) | a strong downtrend is in place — ADX, a 0–100 trend-strength gauge, is 47, with sellers in control | 47.4 |
Momentum
3
| 14-day RSI | momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 37, neither overbought (above 70) nor oversold (below 30) | 37.4 |
|---|---|---|
| Position in its 14-day range | it is trading in the lower half of its 14-day range ($11.70 to $14.55) — its "stochastic" reading is 38 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been climbing within that range over the last few sessions. | 37.5 |
| Since the MACD crossed zero | MACD, a trend-momentum gauge, turned bullish about 2 trading days ago (its momentum flipped positive) | 2 sessions |
Range
12
| 52-week high | its highest closing price over the past year (about 252 trading days) was $20.22 | $20.22 |
|---|---|---|
| From the 52-week high | it is 36.8% below its 52-week high (its highest price of the past year) | -36.8% |
| Above the 52-week low | it is 37.6% above its 52-week low (its lowest price of the past year) | +37.6% |
| Below the 52-week high | it is 36.8% below its highest point of the past year | 36.8% |
| Since a 20-day breakout | it made a new 20-day low about 4 trading days ago | 4 sessions |
| Since a 55-day breakout | it made a new 55-day low about 4 trading days ago | 4 sessions |
| All-time high | its highest closing price on record is $20.22 (set on 2026-07-17) | $20.22 |
| Given back of the 52-week move | over the past year its closes ranged ($9.99 to $19.50), and it has given back well over two thirds of its rise from last year’s low — 71% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $13.32 to $13.62. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 70.8% |
| From the all-time high | it is 36.8% below its all-time high | -36.8% |
| Nearest price level | it is trading 3.0% below a resistance level at $13.16 — a price it turned at three times since 2026-04-30, most recently on 2026-06-03. Since 2024-10-21 it has 8 such levels below the current price and 5 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go. | +3.0% |
| All-time low | its lowest closing price on record is $0.46 (set on 2022-02-22) | $0.46 |
| Above the all-time low | it is 2676.1% above its all-time low | +2,676% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are wider than usual versus its own recent 6-month history (wider than about 76% of it) | 76th percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $0.6804 between its high and its low — about 5.3% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was | $0.6804 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $11.43 and $15.09 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles | $11.43 – $13.26 – $15.09 |
| Typical daily range (% of price) | its price moves about 5.3% in a typical session — about typical for the companies we cover. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price | 5.3% |
| Stretch from the 200-day average | it is trading 2.2 daily ranges below its 200-day average price (10.4% below it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale | 2.2 daily ranges below its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is about normal versus its 30-day average | 1.07× |
|---|
Analyst
2
| Change in the average price target | analysts' average price target is unchanged from the prior reading | 0.0% |
|---|---|---|
| Change in the consensus rating | the analyst consensus rating is unchanged since the prior reading | unchanged |
Candlestick patterns
2
| Since a doji | 5 sessions ago it opened and closed at almost the same price after trading through a wider range — a "doji", the classic picture of buyers and sellers finishing the session level | 5 sessions ago |
|---|---|---|
| Since a hammer | 8 sessions ago, after a stretch of decline, it sold off hard during the session and then closed back near its high — a "hammer", the long lower wick showing the drop was bought back before the close | 8 sessions ago |
Price gaps
2
| Gap at the open | it opened on 2026-10-21 at essentially the same price it closed at the session before — no meaningful overnight gap | 0.0% |
|---|---|---|
| Gap filled | a 2.1% gap down opened on 2026-10-14 has been "filled" 5 sessions ago — price traded back through the level the gap left behind, and it closed again during the very session that opened it | 5 sessions ago |
Price streaks
1
| Closing streak | it closed lower in its latest session, after a session that did not close lower — a single down day rather than a run | 1 session down |
|---|
Relative strength
4
| vs market, 1 month | over the past 1 month this stock lagged the market by 14.2 percentage points (the stock lost 14.2% while the market lost 0.1%) | -14.2% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock lagged the market by 33.1 percentage points (the stock lost 29.8% while the market gained 3.3%) | -33.1% |
| vs market, 6 months | over the past 6 months this stock lagged the market by 22.5 percentage points (the stock lost 12.7% while the market gained 9.8%) | -22.5% |
| vs market, 12 months | over the past 12 months this stock beat the market by 4.7 percentage points (the stock gained 19.9% while the market gained 15.2%) | +4.7% |
Signal agreement
2
| Bullish technical signals | 2 of the 9 technical signals we can compute for it are currently in a bullish state: a "golden cross" — its 50-day average is above its 200-day, MACD momentum is positive — these describe past price behaviour, not a forecast | 2 of 9 |
|---|---|---|
| Bearish technical signals | 4 of the 9 technical signals we can compute for it are currently in a bearish state: trading below its 200-day average, a strong downtrend, with sellers in control, lagging the market over 6 months, trading below the Ichimoku cloud — these describe past price behaviour, not a forecast | 4 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading 23% below the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-09-15 and projected forward over today's price, the side traders read as an established downtrend, with the band above acting as the level that would have to be cleared. The band itself is moderate, spanning 7.5% of the share price. | -22.8% |
|---|
Volume-weighted price
2
| Vs this year’s average price paid | the price is 13% below the average price paid so far this year, so the typical buyer over that stretch is under water. That average is $14.73 — a volume-weighted average of daily closes over 197 sessions, not a true tick-by-tick VWAP. | -13.3% |
|---|---|---|
| Vs the average paid since it last reported | the price is 15% below the average price paid since it last reported on 2026-08-06 (its 10-Q), so the typical buyer over that stretch is under water. That average is $14.96 — a volume-weighted average of daily closes over 54 sessions, not a true tick-by-tick VWAP. | -14.6% |
Price levels it has turned at before
TRVI last closed at $12.77 on 2026-10-21. Since 2024-10-21 it has turned at 8 prices below its last close and 5 above; the 3 nearest below and the 3 nearest above are listed, nearest first.
| Level | Side | Distance | Evidence |
|---|---|---|---|
| $13.16 | Resistance | 3.0% above the last close | turned there three times · 2026-04-30 to 2026-06-03 |
| $11.92 | Support | 6.7% below the last close | turned there twice · 2025-12-17 to 2026-02-05 |
| $10.52 | Support | 17.6% below the last close | turned there twice · 2025-11-21 to 2026-01-06 |
| $10.23 | Support | 19.9% below the last close | turned there twice · 2025-11-05 to 2026-03-24 |
| $16.15 | Resistance | 26.4% above the last close | turned there three times · 2026-04-20 to 2026-08-31 |
| $17.49 | Resistance | 36.9% above the last close | turned there twice · 2026-08-03 to 2026-08-11 |
A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.
Wave structure
Its recent swings can be read as a five-part downward sequence — what Elliott-wave chartists call an impulse — now in leg 4 of five, a pullback against that direction.
This labelling fails — stops being a possible reading at all — if it closes above $17.52.
It is the only labelling that fits these swings, though its proportions are not the textbook ones.
On past moves of this shape the leg has usually ended somewhere between $15.25 and $16.65 — that is where it has tended to end if the count holds, not a forecast of where the price goes.
This reading has stood for 32 trading days, since 2026-09-08.
Read from daily closes as of 2026-10-21.
An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.
Screens: Trading below the 200-day moving average · Trading below the 50-day moving average · Pulled back from the 12-month high · MACD just crossed bullish (12/26/9) · lagging the market · Under water since its last earnings report (below the anchored VWAP) | Learn: moving average · golden cross · adx · rsi · macd · breakout · fifty two week high low
Based on daily closing prices as of 2026-10-21. Describes past price behavior only — informational, not financial advice.
Analyst consensus
- Consensus ratingStrong Buy (1.18 mean, 1=Strong Buy…5=Strong Sell) — 11 analysts
- Mean price target$28.18 range $23.00 – $40.00; median $25.00
Analyst estimates, as of 2026-10-20. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.
Analyst EPS estimate for TRVI
- Consensus EPS estimate-$0.133 next reporting period, as of 2026-10-20
- Estimate change, 30 days$0.00 from -$0.133, on 2026-09-15, 35-day window
- Readings revised upward0% of 7 comparable readings
The consensus estimate for the next reporting period, and how it has moved between readings of that SAME period. A change is measured only between readings estimating one period — when a company reports, the consensus moves to the next quarter and the two numbers are not comparable. Informational only, not a forecast and not advice.
Key risks (from latest filing)
["The company is a clinical-stage entity with no currently marketed products and has a history of operating losses, raising substantial doubt about its ability to continue as a going concern without additional capital.","Success is highly dependent on the outcome of clinical trials for Haduvio, and failure to meet endpoints or regulatory approval would significantly impact the company's prospects."]
What changed in the latest 10-Q
AI-assisted comparison of TRVI's 10-Q filed 2026-05-05 against the prior one filed 2025-11-13.
Management's Discussion & Analysis (MD&A)
- Added:
- Newer filing (2026-05-05) references audited Consolidated Financial Statements for year ended December 31, 2025 filed March 17, 2026; older filing (2025-11-13) references year ended December 31, 2024 filed March 18, 2025
- Newer filing adds: 'in our most recent Annual Report on Form 10-K, including the risks identified under "Risk Factors" of such reports'
- Newer filing adds description of mechanism: 'kappa receptor agonist and mu receptor antagonist, or KAMA' with specific formatting of 'k appa' and 'm u'
- Newer filing adds: 'found in respiratory-related regions of the brainstem and spinal cord, as well as higher brain regions'
- Newer filing changes section heading from 'Chronic Cough in Patients with IPF Program' to 'IPF-related Chronic Cough Program'
- Newer filing adds: 'which is a progressive fibrosing interstitial lung disease associated with high mortality rates'
- Newer filing adds subsection: 'Non-IPF ILD-related Chronic Cough Program' with statement about planning adaptive design Phase 2b clinical trial
- Newer filing adds detailed description of End-of-Phase 2 FDA meeting and alignment on remaining clinical trials
- Newer filing adds specific Phase 3 trial details: initiation timeline (Q2 2026 and H2 2026), enrollment numbers (~300 and ~200 patients), dosing duration, and expected topline result timing (H1 2028 and H2 2027)
- Newer filing adds: 'These trial designs are subject to final review of the protocols by the FDA'
- Removed:
- Older filing (2025-11-13) references 'particularly including those risks identified in Part II-Item 1A "Risk Factors"'; newer filing generalizes this to 'including the risks identified under "Risk Factors"'
- Older filing includes detailed CORAL trial results table with baseline cough frequency and relative changes by dose group; newer filing does not include this table in the provided excerpt
- Older filing includes 'Additional Trial Results' section with bullet points on rapid reduction, 50% reduction achievement rates, CS-NRS results, E-RS®: IPF Cough Subscale results, and discontinuation rates; newer filing excerpt does not include these detailed results
- Reworded:
- Mechanism description changed from 'kappa agonist and a mu antagonist (KAMA)' to 'k appa receptor a gonist and a m u receptor a ntagonist, or KAMA' (formatting/spacing change in newer filing)
- Description of kappa- and mu-opioid receptors changed from 'known to be critical mediators of cough' (older) to removed entirely in newer filing's mechanism section
- Nalbuphine approval duration changed from 'approved and marketed as an injectable for pain indications for more than 30 years' (older) to 'approved and marketed as an injectable for pain indications for decades' (newer)
- Description of nalbuphine changed from 'a mixed kappa-opioid receptor agonist and mu-opioid receptor antagonist' (older) to 'an oral extended-release formulation of nalbuphine' with separate mechanism description (newer)
- CORAL trial description changed from 'conducted at multiple sites in ten countries' (older) to no geographic specification in newer filing excerpt
- CORAL trial population description changed from 'N=165' notation in older to explicit '(n=165)' in newer with additional context about mITT population definition
- Notes:
- The newer filing excerpt appears truncated and does not include the full CORAL trial results section or Additional Trial Results details that are present in older filing
- Comparison is limited to the provided text excerpts and does not represent the complete MD&A sections
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
0 open-market purchases and 4 open-market sales by insiders in the last 90 days, of which we have read Form 4 filings through 2026-10-18. The 4 days since 2026-10-18 have not been checked yet.
- Last 90 days · read to 2026-10-180 buys · 4 sells ($595806) — 1 selling insider
- Last 180 days · read to 2026-10-180 buys · 4 sells ($595806) — 1 selling insider
Activity heuristic: net selling (a transparent product heuristic from the counts above, not a prediction or advice)
Most recent open-market transaction: 2026-09-15. Based on Form 4 filings read through 2026-10-18; anything filed since is not yet included.
View full insider trading history → View SEC Form 3/4/5 filingsAsk about TRVI's insider activity →
Only open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
Institutional ownership (13F)
5 institutional 13F filers reported holding TRVI as of 2026-06-30 (quarter-end position, filed within 45 days).
- Distinct 13F filers 5
- Reported shares held 28,612,824
- Reported value $533,629,169
reported quarterly holdings change (2026-03-31 → 2026-06-30): 0 new, 3 increased, 2 decreased, 0 exited. Change counts cover only managers that filed 13F reports in BOTH quarters, derived between two quarter-end snapshots — not same-day trades; a single manager is never said to have "bought" or "sold".
Institutional holdings are quarter-end long positions reported on SEC Form 13F-HR, filed up to 45 days after the quarter ends — they are delayed, are not real-time trades, exclude short positions and most non-US securities, and are not investment advice. Any increase/decrease is a reported change between two quarterly snapshots, not a same-day purchase or sale. These are quarter-end snapshots from the 13F filings on SEC EDGAR, filed within 45 days — not real-time, and any change is a difference between two quarterly reports, not a same-day trade. Informational only — not financial advice.
Ask about TRVI's institutional holders → See what each manager we track holds →
Short interest (FINRA)
TRVI had 14,639,150 shares of reported short interest as of the 2026-09-30 FINRA settlement date (delayed, bi-monthly; not real-time).
TRVI had 10.3% of its shares outstanding sold short as of the 2026-09-30 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 8.33 days to cover at the same settlement.
- Reported short interest (shares) 14,639,150
- Short interest (% of shares outstanding) 10.3%
- Prior settlement (shares) 12,070,625
- Reported change 21.28%
- Days to cover (reported) 8.33
Reported to FINRA as of the 2026-09-30 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Competitors & peers
- Galderma (privately held)
- Sanofi (SNY)
- Regeneron Pharmaceuticals (REGN)
- Bellus Health (acquired by GSK)
- Merck (MRK)
AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.
Compare TRVI vs…
Frequently asked questions
What does TREVI THERAPEUTICS INC (TRVI) do?
Trevi Therapeutics is a clinical-stage biopharmaceutical company focused on developing therapies for chronic pruritus and chronic cough conditions. Its primary product candidate is Haduvio (nalbuphine ER), an oral extended-release formulation of nalbuphine designed to treat neurological and dermatological conditions.
What sector is TREVI THERAPEUTICS INC (TRVI) in?
TREVI THERAPEUTICS INC (TRVI) is classified in the Health Care sector. Its industry is biotechnology. It trades on NASDAQ.
Who are TREVI THERAPEUTICS INC's (TRVI) competitors?
Notable peers of TREVI THERAPEUTICS INC (TRVI) include Galderma (privately held), Sanofi, Regeneron Pharmaceuticals, Bellus Health (acquired by GSK) and Merck. This peer set is informational only — not financial advice.
Is TREVI THERAPEUTICS INC (TRVI) overbought or oversold right now?
TREVI THERAPEUTICS INC (TRVI) is currently neither overbought nor oversold — its 14-day RSI (a 0–100 momentum gauge) is 37, in the neutral middle (as of 2026-10-21). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on TRVI come from?
Fundamentals come from SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-02 for the rest; prices are market data, as of 2026-09-02; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-02 for the rest. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-10-21.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.