Ally Bridge Group NY LLC Lowers Holdings in Trevi Therapeutics, Inc. (NASDAQ:TRVI)

Ally Bridge Group NY LLC cut its stake in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 40.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 781,489 shares of the company's stock after selling 541,311 shares during the period. Trevi Therapeutics comprises approximately 2.7% of Ally Bridge Group NY LLC's holdings, making the stock its 16th largest position. Ally Bridge Group NY LLC owned approximately 1.02% of Trevi Therapeutics worth $3,220,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Summit Investment Advisors Inc. lifted its holdings in Trevi Therapeutics by 84.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company's stock valued at $26,000 after acquiring an additional 2,894 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Trevi Therapeutics by 2.1% in the fourth quarter. Bank of New York Mellon Corp now owns 140,219 shares of the company's stock worth $578,000 after buying an additional 2,935 shares during the last quarter. SG Americas Securities LLC grew its position in Trevi Therapeutics by 14.5% during the fourth quarter. SG Americas Securities LLC now owns 26,792 shares of the company's stock valued at $110,000 after buying an additional 3,387 shares during the period. Invesco Ltd. increased its holdings in Trevi Therapeutics by 21.2% during the fourth quarter. Invesco Ltd. now owns 23,621 shares of the company's stock valued at $97,000 after buying an additional 4,133 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Trevi Therapeutics by 32.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,166 shares of the company's stock worth $104,000 after acquiring an additional 6,119 shares during the period. 95.76% of the stock is owned by institutional investors.

Trevi Therapeutics Stock Up 2.6 %

Trevi Therapeutics stock traded up $0.17 during mid-day trading on Wednesday, reaching $6.75. 299,316 shares of the company's stock traded hands, compared to its average volume of 1,149,141. Trevi Therapeutics, Inc. has a 12-month low of $2.30 and a 12-month high of $7.39. The stock has a 50 day moving average of $6.02 and a two-hundred day moving average of $4.46. The company has a market cap of $674.68 million, a price-to-earnings ratio of -15.38 and a beta of 0.62.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last posted its quarterly earnings data on Tuesday, March 18th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.01. As a group, sell-side analysts forecast that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Raymond James upgraded Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and upped their price objective for the stock from $9.00 to $29.00 in a research note on Monday, March 10th. Needham & Company LLC reaffirmed a "buy" rating and issued a $24.00 price objective on shares of Trevi Therapeutics in a research note on Tuesday, April 8th. D. Boral Capital reiterated a "buy" rating and set a $21.00 price objective on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. B. Riley restated a "buy" rating and set a $20.00 target price (up previously from $11.00) on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Finally, Oppenheimer lifted their price target on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the company an "outperform" rating in a report on Tuesday, March 11th. Seven equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $17.56.

Insider Buying and Selling

In related news, insider Farrell Simon sold 81,313 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $6.75, for a total transaction of $548,862.75. Following the completion of the transaction, the insider now owns 76,900 shares in the company, valued at $519,075. The trade was a 51.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jennifer L. Good sold 5,263 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $6.58, for a total value of $34,630.54. Following the completion of the sale, the chief executive officer now owns 213,313 shares in the company, valued at approximately $1,403,599.54. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. 24.37% of the stock is owned by corporate insiders.

Trevi Therapeutics Profile

Trevi Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapy Haduvio for the treatment of chronic cough in idiopathic pulmonary fibrosis (IPF) and refractory chronic cough (RCC) conditions targeting the central and peripheral nervous systems.