Ally Bridge Group NY LLC Lowers Stock 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% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 781,489 shares of the company's stock after selling 541,311 shares during the quarter. Trevi Therapeutics makes up approximately 2.7% of Ally Bridge Group NY LLC's holdings, making the stock its 16th biggest holding. Ally Bridge Group NY LLC owned about 1.02% of Trevi Therapeutics worth $3,220,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Summit Investment Advisors Inc. grew its stake in Trevi Therapeutics by 84.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company's stock worth $26,000 after purchasing an additional 2,894 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Trevi Therapeutics during the 4th quarter worth $49,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Trevi Therapeutics during the fourth quarter valued at $67,000. Jump Financial LLC bought a new stake in shares of Trevi Therapeutics in the fourth quarter valued at about $89,000. Finally, Invesco Ltd. raised its holdings in shares of Trevi Therapeutics by 21.2% in the fourth quarter. Invesco Ltd. now owns 23,621 shares of the company's stock valued at $97,000 after acquiring an additional 4,133 shares in the last quarter. Institutional investors own 95.76% of the company's stock.

Analysts Set New Price Targets

TRVI has been the topic of several recent research reports. Needham & Company LLC reissued a "buy" rating and set a $24.00 target price on shares of Trevi Therapeutics in a research report on Tuesday, April 8th. D. Boral Capital reissued a "buy" rating and set a $21.00 price objective on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Raymond James raised shares of Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the stock from $9.00 to $29.00 in a research note on Monday, March 10th. HC Wainwright reiterated a "buy" rating and issued a $12.50 price target on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Finally, B. Riley reissued a "buy" rating and issued a $20.00 price target (up from $11.00) on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Seven research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $17.56.

Insider Buying and Selling

In related news, insider Farrell Simon sold 81,313 shares of the firm's stock in a transaction on Monday, March 10th. The shares were 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 of the company's stock, valued at $519,075. This trade represents a 51.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jennifer L. Good sold 5,263 shares of the business's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $6.58, for a total transaction of $34,630.54. Following the transaction, the chief executive officer now owns 213,313 shares of the company's stock, valued at $1,403,599.54. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.37% of the stock is currently owned by company insiders.

Trevi Therapeutics Price Performance

Shares of NASDAQ:TRVI opened at $6.90 on Friday. The business's 50-day moving average is $5.88 and its 200 day moving average is $4.37. Trevi Therapeutics, Inc. has a 1 year low of $2.30 and a 1 year high of $7.39. The firm has a market capitalization of $667.11 million, a P/E ratio of -15.68 and a beta of 0.41.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last issued its quarterly earnings results on Tuesday, March 18th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.12) by $0.01. On average, analysts expect that Trevi Therapeutics, Inc. will post -0.49 EPS for the current year.

Trevi Therapeutics Company 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.

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