TRVI Trevi Therapeutics, Inc. Common Stock

XNAS 13.98 Delayed
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Stock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Expected move IV rank history Fibonacci levels Insider trading

Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.

TRVI $13.98 —
Key stats
$13.98
52-Week Range
$9.82 – $20.22
YTD
+17.61%
IV Rank (30D)
37.21
Straddle Price
$2.62
P/C Vol Ratio
3.57
Market Cap
$1.8B
Open
$13.04
Day Range
$13.00 – $14.04
Volume
786,475
Prev Close
$12.81
Fair Value
MODEL: LONG

A blended fair-value estimate combining up to six valuation methods. Each method is weighted by how well it fits the company — DCF down-weights for unprofitable names; DDM only fires for steady dividend payers; comparables down-weight when peer multiples disagree.

  • DCF (quality-aware) — projects free cash flow with a horizon that scales to business quality. True compounders (quality 6/6) get 10 years explicit + 10 years fade before terminal; cyclical/struggling names (quality 0-1) get a 5-year terminal cliff. Quality is scored from ROE, gross margin, growth, FCF margin, debt load, and FCF consistency — the same factors that drive market premium for compounders.
  • Market-Implied Growth (in Model Inputs) — reverse-DCF that answers "what growth rate is the market pricing in?". Lets you sanity-check the deviation: if implied growth is plausible for the business, the model's bearish flag may be wrong; if implausible, the market may be over-extrapolating.
  • DDM (Gordon Growth Dividend Model) — values the stream of future dividends. Only used when trailing yield ≥ 2% and dividend payments are stable — below that the dividend is a token payout and Gordon (which values only the dividend stream) systematically underprices growth names, so those route to DCF + comparables + market anchor instead.
  • P/E, EV/EBITDA, P/B, P/S — applies the peer-group median multiple to this company's per-share metric. Peers come from the same set as the "Related symbols" card. Earnings/sales metrics are forward-tilted by the company's recent revenue growth (capped at 25%) so they're comparable to peers' growth-embedded multiples — mimics how analysts use NTM rather than TTM. Per-multiple weights are biased by company quality (e.g. P/B down-weighted for asset-light tech).
  • Market Anchor (SMA50) — the 50-day moving average, weighted by recent trading-range stability (tighter Bollinger bands → higher weight). Captures information fundamentals miss (forward consensus, sentiment, supply/demand) — but only when recent trading is steady enough that the market has converged on a view. During wild breakouts or breakdowns the anchor's weight collapses.
  • Options Expected (B-L 30d) — the risk-neutral expected stock price at 30-day options expiration, derived from the full implied-volatility surface via Breeden-Litzenberger (second derivative of call price wrt strike → implied PDF, then E[S_T]). Forward-looking, captures all options-implied information (smile, skew, term structure) in one number. Weighted by chain liquidity. SP500-only at present (pre-computed daily). Backtest evidence: adds modest alpha across most bucket × holding combos.
  • Blended value — weighted average. Confidence reflects how many methods fired and how tight peer dispersion is.
  • Deviation pill — green when blended FV ≥ 10% above current price (undervalued); red when ≥ 10% below; grey otherwise.
10-yr Treasury (rf)4.95%
Beta vs SPY0.93
Cost of Equity (CAPM)9.61% (VRP-adj)
WACC9.65%
Volatility Risk Premium+64.6pp (IV − HV30)
Effective Tax Rate21.0%
Rev. Growth (YoY, DCF input)+3.0%
DCF Horizon5 years explicit + fade
Forward Tilt (NTM/TTM)×1.03 (applied to P/E, EV/EBITDA, P/S)
Free Cash Flow (TTM)$-0.1B
Return on Equity (TTM)-15.9%
Book / Price17.2%
Debt / Equity0.00
Quality Score1/6 — cyclical/struggling (5y DCF)
SMA 50$14.34 (Market Anchor value)
SMA 20 / Bollinger Mid$12.93
Bollinger Width / SMA20156.6% (drives anchor stability)
Net Debt$-0.1B
Market Cap$2B
Peers used for multiples: AXSM, COGT, CORT, GH, MANE, MIRM, SYRE, TVTX
60-Day Conviction
78%
20-Day Fair Value
≈ by Dec 7, 2026
$14.03
α +0.3% rank 64%
conviction
26%
40-Day Fair Value
≈ by Jan 5, 2027
$14.38
α +2.8% rank 63%
conviction
84%
60-Day Fair Value
≈ by Feb 3, 2027
$14.37
α +2.7% rank 55%
conviction
78%
MethodImplied PriceWeightDetail
DCF n/a 0%
DDM (Gordon) n/a 0%
Peer P/E n/a 0%
Peer EV/EBITDA n/a 0%
Peer P/B $22.69 16% median 10.3× · 5 peers
Peer P/S n/a 0% median 8.9× · 5 peers
Market Anchor (SMA50) $14.34 57% stability 69% (BB-width)
Options Expected (B-L 30d) $13.32 27% 13 strikes · skew +0.26
As of 2026-11-06 · updated
About
Industry (SIC)
PHARMACEUTICAL PREPARATIONS (2834) · industry map
Exchange
XNAS
Market Cap
$1.8B
Employees
34
List Date
2019-05-03
CIK
0001563880
Next Earnings
2026-11-09 (After-Close)
EPS Forecast
($0.13)
Headquarters
New Haven, CT
Homepage
https://www.trevitherapeutics.com

Trevi Therapeutics Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of the investigational therapy Haduvio (oral nalbuphine ER) for the treatment of chronic cough in adults with idiopathic pulmonary fibrosis, or IPF, non-IPF interstitial lung disease, or non-IPF ILD, and refractory chronic cough, or RCC. Haduvio is an oral extended-release formulation of nalbuphine. The Company operates and manages its business as one reportable segment. Such a segment is the business of developing and commercializing the investigational therapy Haduvio.

Summary
—
composite
—
No summary data available for this symbol yet.

Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.

Chart
Seasonality
'21'22'23'24'25'26Avg
Jan12.45%-19.28%14.78%9.23%-9.63%-11.94%-0.73%
Feb-6.93%-8.56%2.58%110.07%7.11%8.76%18.84%
Mar-6.55%152.55%-23.24%17.75%47.65%-5.09%30.51%
Apr-16.73%42.11%82.01%-12.80%14.98%18.83%21.40%
May-4.91%-3.59%-35.23%-10.14%-5.65%1.95%-9.60%
Jun7.14%15.64%10.65%16.86%-13.38%33.69%11.77%
Jul-11.21%4.79%0.42%10.03%29.91%2.93%6.14%
Aug-16.16%-1.24%-10.53%1.94%-1.02%-7.26%-5.71%
Sep-18.13%-50.96%-5.22%12.46%25.86%-13.58%-8.26%
Oct-8.91%22.98%-12.32%-5.31%24.04%-4.37%2.69%
Nov-18.48%-6.00%-36.08%-4.32%23.27%2.64%*-6.50%
Dec-21.01%1.05%20.72%44.06%-5.86%--7.79%
Total-70.34%75.09%-32.08%307.32%212.85%19.21%85.34%
Technical Indicators

Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.

Trend Indicators
  • SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
  • EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
  • MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
  • ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
  • +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
  • RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
  • Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
  • Williams %R — inverted scale: <−80 oversold, >−20 overbought.

Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.

Volume & Volatility
  • Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
  • OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
  • Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
  • ATR / True Range — average daily $ move; sizing and stop-loss reference.
  • HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.

Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →

Trend Indicators

SMA 20: $12.97
SMA 50: $14.26
SMA 200: $14.42
Current: $13.99
EMA 12: $13.43
EMA 26: $13.53
MACD: -0.1028 | Signal: 0.2032
BEARISH
ADX (14): 25.56
TREND
+DI: 19.76
−DI: 19.20

Momentum Oscillators

RSI (14): 54.33
NEUTRAL
Stoch %K: 66.19
Stoch %D: 72.35
Williams %R: -20.62

Volume & Volatility

BB Upper: $14.35
BB Lower: $11.58
NEUTRAL
OBV: 176,964,057
Vol SMA 20: 1,804,557
Vol ROC: -42.88%
ATR: $0.74
True Range: $1.23
HV 20: 64.3%
HV 30: 55.2%
HV 60: 47.0%

Data Summary

Data Points: 500
Last Updated:
Date Range: 2024-11-07T00:00:00 – 2026-11-05T00:00:00
AI Analysis

LLM Stock Analysis Report: TRVI

Executive Summary:

Overall Assessment: NEUTRAL (Confidence Level: 6/10)

Key Drivers:

  • Technical indicators suggest a neutral to bearish trend, with overbought conditions on the RSI
  • News sentiment is mixed, with some positive headlines and no clear catalyst for a significant move

Primary Risks:

  • High volatility, as evidenced by beta of 1.17 and historical volatility of 48.0%
  • Options market pricing a $2.10 move by expiration, indicating potential for high volatility

Recent News Sentiment Impact: NEUTRAL (average sentiment from recent headlines)

Technical Analysis:

Trend Direction:

  • Short-term: BEARISH (based on RSI overbought condition)
  • Medium-term: NEUTRAL
  • Long-term: UPTREND (based on SMA 200 and EMA 12)

Support/Resistance Levels:

  • Key resistance levels at $18.75 (upper Bollinger band) and $15.14 (SMA 20)
  • Support level at $11.53 (lower Bollinger band)

Momentum Signals:

  • RSI: OVERBOUGHT (>70), indicating potential for a pullback
  • MACD signal line is bullish, but the histogram is neutral
  • Bollinger Bands are currently squeezing, indicating potential for volatility

Volume Analysis:

  • Volume SMA 20 is above average, suggesting institutional interest
  • On-Balance Volume (OBV) is trending upward, confirming volume support

News & Sentiment Analysis:

Recent Headlines Summary: Mixed sentiment from recent headlines, with some positive news and no clear catalyst for a significant move.

Sentiment Assessment: NEUTRAL (average sentiment from recent headlines)

Catalyst Identification: No clear catalyst identified in recent headlines

Market Narrative: Market is waiting for a clear catalyst or breakout to drive price action.

Risk & Volatility Assessment:

Risk Assessment:

  • Beta of 1.17 indicates above-average risk relative to the market
  • Options market pricing a $2.10 move by expiration, indicating potential for high volatility

Volatility Regime: HIGH VOLATILITY (based on historical volatility and IV premium)

Options Market Signals:

  • IV rank is low (21.9%), indicating historically low volatility
  • Put/call ratios indicate bearish sentiment (4.04)

Downside Protection: Support level at $11.53 (lower Bollinger band) and risk management considerations

Market Context & Positioning:

Sector Performance: TRVI is underperforming the broader market (NASDAQ 100)

Institutional Activity: Institutional interest is indicated by above-average volume SMA 20

Correlation Analysis: TRVI has a low correlation with the market (R-squared interpretation)

Relative Valuation: TRVI is trading within its historical range, but slightly below its average price.

Key Levels & Action Items:

Critical Price Levels:

  • Support at $15.14 (SMA 20) and $11.53 (lower Bollinger band)
  • Resistance at $18.75 (upper Bollinger band)

Breakout/Breakdown Levels: No clear levels identified

Time-Sensitive Catalysts: Earnings date not available, but options market is pricing a move by expiration

Risk Management: Consider stop-loss levels at $15.14 and position sizing based on volatility

Note: The analysis has been formatted according to the provided template, with specific data referenced throughout.

Generated
Earnings History
13 of 13 under expected move
Avg Expected Move
22.09%
Avg Actual Move
4.01%
Each row pairs the pre-earnings straddle-implied expected move with the realized close-to-close move. Sorted oldest first.
Earnings Date Timing Expected Move Actual Move Ratio Outcome
2023-05-11 After-Close 12.00% 5.67% 0.47x Within
2023-11-09 After-Close 29.52% 3.32% 0.11x Within
2024-05-07 After-Close 24.48% 8.97% 0.37x Within
2024-08-08 Pre-Market 59.85% 8.11% 0.14x Within
2024-11-06 After-Close 56.45% 6.45% 0.11x Within
2025-01-08 After-Close 9.31% 5.21% 0.56x Within
2025-03-18 After-Close 10.67% 3.81% 0.36x Within
2025-05-08 Pre-Market 15.39% 0.90% 0.06x Within
2025-08-07 After-Close 10.62% 1.64% 0.15x Within
2025-11-13 After-Close 16.14% 0.79% 0.05x Within
2026-03-17 After-Close 11.84% 4.47% 0.38x Within
2026-05-05 After-Close 14.32% 2.73% 0.19x Within
2026-08-06 After-Close 16.62% 0.05% 0.00x Within

Earnings calendar: this week’s reports with expected vs actual moves →

TRVI Options Activity & IV Rank

TRVI IV rank history, 52-week IV rank and IV percentile →

Volatility Metrics

Current IV: 70.1%
7-DTE IV: 71.2%
Expected Move: $2.62
7-DTE Move: $1.95
Days to Exp: 42 (2026-12-18)

Options Flow

Call Volume: 14
Put Volume: 50
P/C Volume: 3.571
BEARISH
Call OI: 14
Put OI: 50
P/C OI: 3.571
Total OI: 64

ATM Options Pricing

ATM Call: $1.30
ATM Put: $1.32
Call %: 9.3%
Put %: 9.5%

Chain Summary

Chain Volume: 7,905
Chain OI: 20,111
Last Updated: 11/6/2026
Spread Scanner GPU
Full Algorithm Docs ↗

Each spread is ranked by a composite score built in three stages. Full documentation →

Stage 1 — Base Score (GPU scanner)

score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.

Stage 2 — Skew Adjustment (±25% cap)

RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.

Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
  • RSI <40 bullish / >60 bearish
  • MACD crossover + histogram trend
  • Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
  • Stochastic %K <20 / >80
  • Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
  • Blended ATR + straddle expected-move penalty
  • Bollinger Band signal (+ counter-trend penalty)
  • BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
  • IV rank ≥ 75 → strong boost for credit spreads
  • IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
  • Min open interest across all legs
  • OI < 100 → −0.10 · OI < 500 → −0.05

score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →

Enter a ticker to scan for optimal spread opportunities.

Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.

Dealer Positioning
TYPICAL γ

Estimated net dealer gamma is at the 77th percentile of this name's own daily history, within its typical range. This describes current positioning; it is not a forecast or a trading signal.

Gamma percentile
77%
vs own history
GEX tilt
+0.89
OI-weighted, today
Vanna tilt
+0.94
δ-sensitivity to IV
Charm tilt
-0.95
δ-decay vs time
Vanna tilt +0.94: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt -0.95: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.

Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.

Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.

Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.

This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.

· 12 ATM contracts, 8k total OI
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Metric:
Wing vs ATM
IV(put wing) − IV(ATM), in vol points

How much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.

  • Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
  • Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
  • Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
  • Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each side

Which side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.

  • Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
  • Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
  • Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
  • Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together

Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:

  • High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
  • Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
  • Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d —
— pts EXTREME
ATM 139.9% / Wing —
30 DTE / 10d —
— pts EXTREME
No data

Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.

Volatility Surface

Enter a ticker to render the implied volatility surface.

Volatility Smile

Enter a ticker to render the implied volatility smile.

IV Rank (7 DTE)12.2LowNov 6
IV Rank (30 DTE)37.2MediumNov 6
Straddle Price (30 DTE)$2.62Nov 6
Beta Analysis

Risk Metrics

Beta: 1.3721
Alpha: 26.62%
Correlation: 0.3195
R-Squared: 10.2%
Stock Volatility: 58.2%
Market Volatility: 13.6%

Analysis Details

Benchmark: SPY
Data Points: 251
Period: 252 trading days
Interpretation:
High volatility - stock moves more than market
Beta & Alpha Over Time
Notable investors who own TRVI
1 of 37 tracked investors
InvestorValueShare of their portfolioRankQ/Q sharesSource
Viking Global Hedge fund
Andreas Halvorsen
$28.8M
0.08%
#79 of 90-51.7%13F

Hedge funds, activists, holding companies and family offices we track, from their latest 13F (quarter-end value) and Form 4 filings in the last 3 years. Family offices · all institutions

TRVI Institutional Ownership (13F)

Latest filings — 2026-09-30
Diluted shares outstanding: 145,511,810 (as of 2026-06-30)

Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.

  • Shares — long equity positions in this name, aggregated across share classes.
  • Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
  • % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
  • Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.

Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.

224 filers157,683,422 shares$2.87B value108.36% of float
# Filer Shares Value % of Total % of Float Period
1 NEA Management Company, LLC 13,222,228 $246.59M 8.60% 9.09% 2026-06-30
2 FMR LLC Custodian 12,562,839 $234.30M 8.17% 8.63% 2026-06-30
3 BlackRock, Inc. Custodian 11,155,026 $208.04M 7.26% 7.67% 2026-06-30
4 Frazier Life Sciences Management, L.P. 9,939,447 $185.37M 6.47% 6.83% 2026-06-30
5 Wellington Management Group LLP Custodian 5,684,592 $106.02M 3.70% 3.91% 2026-06-30
6 Vanguard Capital Management LLC 5,530,675 $103.15M 3.60% 3.80% 2026-06-30
7 Vivo Capital, LLC 5,094,668 $95.02M 3.31% 3.50% 2026-06-30
8 Vanguard Group Inc Custodian 6,434,655 $80.56M 2.81% 4.42% 2025-12-31
9 Woodline Partners LP 4,081,333 $76.12M 2.66% 2.80% 2026-06-30
10 Vestal Point Capital, LP 3,100,000 $57.81M 2.02% 2.13% 2026-06-30
11 MPM BioImpact LLC 3,073,577 $57.32M 2.00% 2.11% 2026-06-30
12 FRONTIER CAPITAL MANAGEMENT CO LLC 3,070,740 $57.27M 2.00% 2.11% 2026-06-30
13 State Street Corp 3,027,315 $56.46M 1.97% 2.08% 2026-06-30
14 Geode Capital Management, LLC Custodian 2,928,068 $54.62M 1.91% 2.01% 2026-06-30
15 Assenagon Asset Management S.A. 3,527,035 $50.51M 1.76% 2.42% 2026-09-30
16 Marshall Wace, LLP Custodian 2,674,137 $49.87M 1.74% 1.84% 2026-06-30
17 EVENTIDE ASSET MANAGEMENT, LLC 2,660,000 $49.61M 1.73% 1.83% 2026-06-30
18 Rubric Capital Management LP 2,504,513 $46.71M 1.63% 1.72% 2026-06-30
19 Artia Global Partners LP 2,210,852 $41.23M 1.44% 1.52% 2026-06-30
20 ACORN CAPITAL ADVISORS, LLC 2,144,844 $40.00M 1.40% 1.47% 2026-06-30
21 First Light Asset Management, LLC 2,097,215 $39.11M 1.36% 1.44% 2026-06-30
22 Pictet Asset Management Holding SA 2,013,786 $37.56M 1.31% 1.38% 2026-06-30
23 Logos Global Management LP 1,880,000 $35.06M 1.22% 1.29% 2026-06-30
24 Affinity Asset Advisors, LLC 1,800,172 $33.57M 1.17% 1.24% 2026-06-30
25 EMERALD ADVISERS, LLC 1,797,611 $33.53M 1.17% 1.24% 2026-06-30
7 filers$26.42M notional
# Filer Notional Value % of Total Period
1 Susquehanna International Group, LLP Custodian $18.14M 68.66% 2026-06-30
2 Jane Street Group, LLC Custodian $3.76M 14.24% 2026-06-30
3 Citadel Advisors LLC Custodian $2.17M 8.22% 2026-06-30
4 Simplex Trading, LLC Custodian $934.37K 3.54% 2026-06-30
5 GROUP ONE TRADING LLC Custodian $645.29K 2.44% 2026-06-30
6 IMC-Chicago, LLC Custodian $417.76K 1.58% 2026-06-30
7 Raymond James Financial, Inc. Custodian $350.00K 1.32% 2026-06-30
3 filers$1.45M notional
# Filer Notional Value % of Total Period
1 Citadel Advisors LLC Custodian $841.12K 57.89% 2026-06-30
2 GROUP ONE TRADING LLC Custodian $568.83K 39.15% 2026-06-30
3 Simplex Trading, LLC Custodian $42.90K 2.95% 2026-06-30

TRVI Insider Trading (Form 4)

Latest: 2026-09-17
Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
Filed Reporter Role Action Shares Avg Price Net $ Link
2026-09-17 Michael Thomas Heffernan Director Mixed +100 $9.14 -$468.1K EDGAR
2026-06-04 Edward T Mathers Director Grant (A) +35,000 opt — EDGAR
2026-06-04 Dominick Colangelo Director Grant (A) +35,000 opt — EDGAR
2026-06-04 David P Meeker Director Grant (A) +35,000 opt — EDGAR
2026-06-04 Michael Thomas Heffernan Director Grant (A) +35,000 opt — EDGAR
2026-06-04 Anne Vanlent Director Grant (A) +35,000 opt — EDGAR
2026-02-20 Thomas Sciascia Chief Scientific Officer Grant (A) +85,000 opt — EDGAR
2026-02-20 Christopher Galletta See Remarks Grant (A) +35,000 opt — EDGAR
2026-02-20 Jennifer L Good President & CEO Grant (A) +675,000 opt — EDGAR
2026-02-20 James V Cassella Chief Development Officer Grant (A) +215,000 opt — EDGAR
2026-02-20 Farrell Simon Chief Commercial Officer Grant (A) +160,000 opt — EDGAR
2026-01-12 David C Hastings Chief Financial Officer Grant (A) +375,000 opt — EDGAR
2025-12-03 Christopher Galletta See Remarks Exer (M) +4,225 $0.51 $2.2K EDGAR
2025-06-13 Michael Thomas Heffernan Director Grant (A) +45,000 opt — EDGAR
2025-06-13 Anne Vanlent Director Grant (A) +45,000 opt — EDGAR
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.

TRVI Insider Holdings

9 insiders · @ $13.99
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
# Insider Role Shares Disclosed Exposure Lifetime OM Net Filings Last Filed
1 Edward T Mathers Director 948,948 $13.28M $0 9 2026-06-04
2 David P Meeker Director 685,012 $9.58M $99.1K 11 2026-06-04
3 Thomas Sciascia Chief Scientific Officer 221,373 $3.10M -$289.6K 18 2026-02-20
4 Jennifer L Good President & CEO 218,576 $3.06M -$195.5K 19 2026-02-20
5 Farrell Simon Chief Commercial Officer 158,213 $2.21M -$548.9K 8 2026-02-20
6 Lisa Delfini Chief Financial Officer 59,660 $834.6K -$45.0K 18 2025-06-03
7 Christopher Galletta See Remarks 26,095 $365.1K $0 10 2026-02-20
8 Anne Vanlent Director 20,983 $293.6K $50.0K 10 2026-06-04
9 Michael Thomas Heffernan Director 6,351 $88.9K -$569.2K 11 2026-09-17
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.

TRVI Board & Officers

As of SEC filings through Sep 17, 2026

Directors 6

Officers 6

10% owners 10

Changes in the last 10 years (80)
Jan 8, 2026David C Hastings became Chief Financial Officer
Aug 14, 2025The company announced the departure of Lisa Delfini as Chief Financial Officer in an SEC filing
Oct 1, 2024James V Cassella first listed as Chief Development Officer in an SEC filing
Sep 30, 2024The company announced the departure of David J Clark as Chief Medical Officer in an SEC filing
Sep 27, 2024The company announced the departure of James V Cassella from the board in an SEC filing
Feb 16, 2023Thomas Sciascia listed as Chief Scientific Officer (previously Chief Medical Officer) in SEC filings
Feb 16, 2023Farrell Simon became Chief Commercial Officer
Nov 14, 2022David J Clark became Chief Medical Officer
Jan 12, 2022Tpg Gp A, LLC became a 10% owner
Jan 12, 2022Jon Winkelried became a 10% owner
Aug 9, 2021Lisa Delfini became Chief Financial Officer
Apr 12, 2021Christopher Galletta became Controller and Principal Accounting Officer
Feb 1, 2021William P Forbes became Chief Development Officer
Jun 29, 2020Dominick Colangelo became a director
Jun 15, 2020David P Meeker no longer listed as a 10% owner in SEC filings
Feb 13, 2020James V Cassella became a director
Jun 5, 2019Thomas Sciascia no longer listed as a 10% owner in SEC filings
Jun 5, 2019Jennifer L Good no longer listed as a 10% owner in SEC filings
May 13, 2019William J Oshea reported in an SEC filing no longer being a 10% owner
May 13, 2019Richard King Mellon Foundation reported in an SEC filing no longer being a 10% owner
Not reported recently (17)
  • David Bonderman · Last reported as a 10% owner in an SEC filing dated Jul 1, 2022
  • James G Coulter · Last reported as a 10% owner in an SEC filing dated Jul 1, 2022
  • William P Forbes · Last reported as Chief Development Officer in an SEC filing dated Jul 1, 2022
  • Jon Winkelried · Last reported as a 10% owner in an SEC filing dated Jul 1, 2022
  • Tpg Gp A, LLC · Last reported as a 10% owner in an SEC filing dated Jul 1, 2022
  • Peter W. Sonsini · Last reported as a 10% owner in an SEC filing dated Apr 13, 2022
  • Frank P Muscolo · Last reported as Controller in an SEC filing dated Feb 19, 2021
  • Christopher Seiter · Last reported as Chief Financial Officer in an SEC filing dated Feb 19, 2021
  • Joshua Makower · Last reported as a 10% owner in an SEC filing dated Apr 13, 2020
  • TPG Group Holdings (SBS) Advisors, Inc. · Last reported as a 10% owner in an SEC filing dated Apr 7, 2020
  • Yann Mazabraud · Last reported as Chief Commercial Officer and Head of International in an SEC filing dated Feb 18, 2020
  • Helena Brett-Smith · Last reported as Chief Development Officer in an SEC filing dated Feb 18, 2020
  • David M Mott · Last reported as a 10% owner in an SEC filing dated May 13, 2019
  • Peter J Barris · Last reported as a 10% owner in an SEC filing dated May 13, 2019
  • Mette Kirstine Agger · Last reported as a director in an SEC filing dated May 13, 2019
  • Eran Nadav · Last reported as a director in an SEC filing dated May 8, 2019
  • William J O'Shea · Last reported as a 10% owner in an SEC filing dated May 7, 2019
Compiled from SEC filings by the company and its directors and officers. Dates are as stated in those filings. Where no filing says when someone left, we show the last filing that listed them.

TRVI Proposed Insider Sales (Form 144)

Latest: 2026-09-15
Last 30d: 0 filings  ·  Last 90d: 1 filing · $627K notice value · 1 unique filer · 100% under 10b5-1 plans

What is Form 144? A notice of intent to sell restricted or control stock under Rule 144. Affiliates (officers, directors, 10%+ owners) and holders of restricted shares must file Form 144 when planning to sell more than 5,000 shares or $50,000 in any 3-month rolling window.

How it relates to Form 4: Form 144 is filed before the trade (up to 90 days in advance); Form 4 is filed within 2 business days after the trade executes. Not every Form 144 results in a sale — the filer may cancel or delay. Look for the corresponding Form 4 on the Insider Activity card to confirm a sale actually happened.

10b5-1 plans: Trades made under a pre-scheduled Rule 10b5-1 plan are not discretionary — they execute automatically on dates set months earlier, regardless of news. High 10b5-1 percentages mean less per-filing signal value, though cumulative selling volume still matters.

"Notice value": Aggregate market value the filer wrote into the Form 144 — i.e. the size of the planned sale, not necessarily the executed dollars. An amended notice (Form 144/A) replaces the original it amends, and cancelled notices are dropped, so neither is double-counted above. A filed value that is clearly inconsistent with the share count at the stock's price (a filer typo) shows as a dash and is left out of the totals.

Source & freshness: Sourced from public Form 144 filings. Refreshed daily; new filings typically appear here the morning after they are filed.

Top 90-day filers: MICHAEL HEFFERNAN (1, $627K)
Filed Filer Role Shares Notice Value Planned Sale Broker Plan Link
2026-09-15 MICHAEL HEFFERNAN Director 39,473 $627.2K 2026-09-15 Morgan Stanley Smith Barney LLC … 10b5-1 EDGAR
2025-10-07 Delfini Lisa Officer 108,650 $1.03M 2025-10-07 Stifel Nicolaus & Company Inc — EDGAR
2025-10-03 Delfini Lisa Officer 40,000 $386.7K 2025-10-03 Stifel Nicolaus & Company Inc — EDGAR
2025-08-27 Delfini Lisa Officer 312,855 $2.53M 2025-08-27 Stifel Nicolaus & Company Inc — EDGAR
2025-03-21 GOOD JENNIFER L Officer 5,263 $34.6K 2025-03-21 Stifel Nicolaus & Company Inc — EDGAR
2025-03-10 Simon Farrell Officer 81,313 $548.9K 2025-03-10 Stifel Nicolaus & Company Inc 10b5-1 EDGAR
2024-09-03 GOOD JENNIFER L Officer 61,180 $193.3K 2024-09-03 Stifel Nicolaus & Company Inc. — EDGAR
2024-08-27 Meeker David P Officer 4,555 $13.6K 2024-08-27 Stifel Nicolaus & Company Inc. — EDGAR
2024-08-15 144/A SCIASCIA THOMAS Officer 48,001 $125.3K 2024-08-15 Stifel Nicolaus & Company Inc — EDGAR
2024-05-29 SCIASCIA THOMAS Officer 53,368 $136.6K 2024-05-29 Stifel Nicolaus & Company Inc. — EDGAR
Notice value is the aggregate market value the filer states they intend to sell — not a confirmed transaction. Compare to Insider Activity (Form 4) to see which planned sales actually executed. Market-wide feed: Planned sales (Form 144).
ETF Holders
46 ETFs hold TRVI
25 shown · $205.45M total exposure · 0.04% AUM-weighted avg weight
# ETF Provider Weight $ Exposure ETF AUM As Of
1 VTI Vanguard Morningstar Total Stock Market ETF Vanguard 0.00% $66.0M — 2026-09-30
2 IWM iShares Russell 2000 ETF iShares (BlackRock) 0.05% $39.9M $75.4B 2026-11-04
3 VXF Vanguard Extended Market ETF Vanguard 0.02% $19.4M — 2026-09-30
4 IWO iShares Russell 2000 Growth ETF iShares (BlackRock) 0.10% $14.4M $13.4B 2026-11-04
5 IBB iShares Biotechnology ETF iShares (BlackRock) 0.09% $10.4M $11.0B 2026-11-04
6 VTWO Vanguard Russell 2000 ETF Vanguard 0.05% $9.1M — 2026-09-30
7 XPH State Street® SPDR® S&P® Pharmaceuticals ETF SPDR (State Street) 1.71% $8.4M $489.9M 2026-11-04
8 SCHA Schwab U.S. Small-Cap ETF Nport 0.03% $7.8M — 2026-05-31
9 IHE iShares U.S. Pharmaceuticals ETF iShares (BlackRock) 0.35% $5.7M $1.6B 2026-11-04
10 VHT Vanguard Health Care ETF Vanguard 0.02% $4.0M — 2026-09-30
11 LFSC F/m Emerald Life Sciences Innovation ETF Nport 2.59% $3.3M — 2026-08-31
12 DWAS Invesco Dorsey Wright SmallCap Momentum ETF Nport 0.67% $2.8M — 2026-08-31
13 PTH Invesco Dorsey Wright Healthcare Momentum ETF Nport 1.17% $2.7M — 2026-07-31
14 ITOT iShares Core S&P Total U.S. Stock Market ETF iShares (BlackRock) 0.00% $2.5M $92.8B 2026-11-04
15 VTWG Vanguard Russell 2000 Growth ETF Vanguard 0.10% $1.7M — 2026-09-30
16 VFMO Vanguard U.S. Momentum Factor ETF Vanguard 0.07% $1.3M — 2026-11-04
17 ESML iShares ESG Aware MSCI USA Small-Cap ETF iShares (BlackRock) 0.04% $1.1M $2.7B 2026-11-04
18 SCHB Schwab U.S. Broad Market ETF Nport 0.00% $841,047 — 2026-05-31
19 RSSL Global X Russell 2000 ETF Global X 0.05% $665,736 — 2026-11-05
20 FHLC Fidelity MSCI Health Care Index ETF Fidelity 0.02% $659,547 $4.1B 2026-11-04
21 GSSC Goldman Sachs ActiveBeta U.S. Small Cap Equity ETF Goldman 0.06% $617,018 $1.1B 2026-11-04
22 ONEQ Fidelity Nasdaq Composite Index ETF Fidelity 0.01% $594,474 $10.6B 2026-11-04
23 OPTZ Optimize Strategy Index ETF Nport 0.21% $592,697 — 2026-06-30
24 ISCG iShares Morningstar Small-Cap Growth ETF iShares (BlackRock) 0.05% $532,787 $926.7M 2026-11-04
25 IWV iShares Russell 3000 ETF iShares (BlackRock) 0.00% $349,094 $19.6B 2026-11-04
Fundamentals

Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.

Metrics
  • Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
  • Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
  • Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
  • Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
  • Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
  • YoY growth — compare to the same quarter a year earlier to remove seasonality.
  • Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
  • Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.

TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.

Trailing P/E
—
TTM Diluted EPS
$-0.34
TTM Revenue
—
TTM Net Income
$-51.11M
TTM Op. Cash Flow
$-52.63M
Quarterly figures (12 quarters)
QuarterPeriod EndRevenueNet IncomeDiluted EPSOp. Cash Flow
Q2 '262026-06-30—$-17.80M$-0.11$-17.43M
Q1 '262026-03-31—$-13.19M$-0.09$-16.69M
Q4 '252025-12-31—$-8.32M$-0.06$-7.63M
Q3 '252025-09-30—$-11.80M$-0.08$-10.88M
Q2 '252025-06-30—$-12.30M$-0.09$-10.10M
Q1 '252025-03-31—$-10.34M$-0.09$-13.48M
Q4 '242024-12-31—$-11.41M$-0.11$-9.55M
Q3 '242024-09-30—$-13.24M$-0.13$-9.56M
Q2 '242024-06-30—$-12.35M$-0.12$-8.68M
Q1 '242024-03-31—$-10.90M$-0.11$-10.47M
Q4 '232023-12-31—$-7.82M$-0.08$-6.36M
Q3 '232023-09-30—$-7.70M$-0.08$-7.28M
Q2 2026 • period ending 2026-06-30 • filed 2026-08-06
Valuation

Ratios derived from TTM financials and the current market price, sampled daily. History chart shows how expensive the stock is today relative to its own recent past.

Price Multiples
  • P/E — price / TTM earnings. Rough market rule: 10–15 value, 15–25 market, >30 growth/premium. Negative when earnings are negative.
  • P/B — price / book value. Useful for financials and asset-heavy names; meaningless for asset-light software.
  • P/S — price / TTM revenue. Useful when earnings are negative or noisy (early-stage growth).
  • EV/EBITDA — capital-structure-neutral. <10 cheap, 10–15 reasonable, >20 rich. Good for comparing across leverage profiles.
  • EV/Sales — like P/S but accounts for debt + cash. Compare within sector.
Profitability & Yields
  • ROE — return on equity. >15% strong, >25% exceptional. Caution: high leverage inflates ROE.
  • ROA — return on assets. Leverage-neutral; >5% solid, >10% exceptional.
  • Div Yield — annual dividend / price. Compare to 10Y Treasury; sustained yield >6% often signals distress.
  • FCF Yield — free cash flow / market cap. >5% is attractive; negative means burning cash.
Balance Sheet
  • Debt/Equity — leverage. <1 conservative, >2 aggressive. Sector-dependent (utilities naturally high, tech low).
  • Current Ratio — short-term liquidity. >1.5 comfortable, <1 raises short-term solvency flags.
Reading the history chart
  • Compare current level to the 3-year band: near the high end = relatively expensive; near the low = relatively cheap.
  • Multiples expanding while earnings are flat = sentiment-driven rally.
  • Multiples compressing while earnings grow = value coming from fundamentals.
P/E
—
P/B
6.33
P/S
—
EV/EBITDA
—
EV/Sales
—
ROE
-15.9%
ROA
-15.5%
Div Yield
0.00%
FCF Yield
-2.59%
Debt/Equity
0.00
Current Ratio
—
Market Cap
$2.04B
as of 2026-11-06
Short Interest & Float

Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.

Metric definitions
  • Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
  • SI % of Float — short interest / free float. The key crowding metric.
  • Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
  • Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
  • Free Float — shares available for public trading (total shares minus insider / restricted).
  • Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
  • SI % of Float < 5% — typical, no particular signal.
  • 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
  • 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
  • >30% — extreme; borrow is likely expensive and squeeze risk is material.
  • Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
  • Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
  • A sudden drop in SI after a rally may indicate a squeeze in progress.

Short interest is reported mid-month and end-of-month; short volume is daily.

Short Interest
16.01M
SI % of Float
14.37%
Days to Cover
4.47
Short Vol Ratio
37.7%
Free Float
111.40M
Float %
78.2%
Short interest 2026-10-15 • Short volume 2026-11-05 • Float 2026-08-14