Trevi Therapeutics, Inc. $TRVI Stake Trimmed by Ally Bridge Group NY LLC

Key Points

• Ally Bridge Group NY LLC has reduced its stake in Trevi Therapeutics by 12.2%, selling 95,270 shares and now holding 686,219 shares.
• Institutional investors own 95.76% of Trevi Therapeutics, reflecting significant interest from large investors in the stock.
• Several analysts rated Trevi Therapeutics, with a consensus rating of "Buy" and an average price target of $20.11, despite recent target price adjustments.

Ally Bridge Group NY LLC cut its position in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) by 12.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 686,219 shares of the company's stock after selling 95,270 shares during the quarter. Trevi Therapeutics makes up approximately 3.9% of Ally Bridge Group NY LLC's investment portfolio, making the stock its 9th largest holding. Ally Bridge Group NY LLC owned about 0.69% of Trevi Therapeutics worth $4,316,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new position in shares of Trevi Therapeutics during the fourth quarter valued at about $17,099,000. Frazier Life Sciences Management L.P. increased its holdings in shares of Trevi Therapeutics by 44.5% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company's stock valued at $43,939,000 after acquiring an additional 3,283,684 shares in the last quarter. Armistice Capital LLC acquired a new position in shares of Trevi Therapeutics during the first quarter valued at about $18,795,000. Woodline Partners LP increased its holdings in shares of Trevi Therapeutics by 429.9% during the fourth quarter. Woodline Partners LP now owns 3,212,597 shares of the company's stock valued at $13,236,000 after acquiring an additional 2,606,370 shares in the last quarter. Finally, MPM Bioimpact LLC increased its holdings in shares of Trevi Therapeutics by 101.2% during the fourth quarter. MPM Bioimpact LLC now owns 3,094,896 shares of the company's stock valued at $12,751,000 after acquiring an additional 1,556,379 shares in the last quarter. 95.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TRVI shares. Raymond James Financial cut their price objective on shares of Trevi Therapeutics from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a report on Friday, August 8th. HC Wainwright started coverage on shares of Trevi Therapeutics in a report on Wednesday, May 28th. They set a "buy" rating and a $21.00 price objective on the stock. Wall Street Zen downgraded shares of Trevi Therapeutics from a "hold" rating to a "sell" rating in a report on Friday, June 6th. Cantor Fitzgerald began coverage on shares of Trevi Therapeutics in a report on Tuesday, July 1st. They issued an "overweight" rating and a $25.00 price target on the stock. Finally, D. Boral Capital reiterated a "buy" rating and issued a $21.00 price target on shares of Trevi Therapeutics in a report on Monday, June 2nd. Two investment analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company's stock. According to MarketBeat.com, Trevi Therapeutics currently has a consensus rating of "Buy" and a consensus price target of $20.11.

Trevi Therapeutics Stock Down 3.0%

Shares of NASDAQ TRVI traded down $0.22 during midday trading on Friday, reaching $7.01. 1,613,444 shares of the stock were exchanged, compared to its average volume of 1,942,515. The firm has a market cap of $853.66 million, a price-to-earnings ratio of -16.69 and a beta of 0.71. Trevi Therapeutics, Inc. has a twelve month low of $2.36 and a twelve month high of $8.78. The firm has a 50-day simple moving average of $7.07 and a two-hundred day simple moving average of $6.39.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.01. Research analysts expect that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal 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.