Fred Alger Management LLC Takes Position in Trevi Therapeutics, Inc. $TRVI

Key Points

• Fred Alger Management LLC has invested $482,000 in Trevi Therapeutics, acquiring 76,699 shares, representing approximately 0.08% ownership as reported in their latest SEC filing.
• Multiple hedge funds have increased their stakes in Trevi Therapeutics, with notable increases from Millennium Management LLC, which boosted its holdings by 356.3% during the 1st quarter.
• Trevi Therapeutics has received mixed analyst ratings, with a consensus rating of "Buy" and a target price averaging $21.75, despite a recent downgrade from Wall Street Zen.

Fred Alger Management LLC acquired a new stake in Trevi Therapeutics, Inc. (NASDAQ:TRVI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 76,699 shares of the company's stock, valued at approximately $482,000. Fred Alger Management LLC owned 0.08% of Trevi Therapeutics at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TRVI. Two Sigma Investments LP acquired a new stake in Trevi Therapeutics in the 4th quarter valued at $560,000. Raymond James Financial Inc. lifted its holdings in Trevi Therapeutics by 4,144.8% during the first quarter. Raymond James Financial Inc. now owns 509,379 shares of the company's stock valued at $3,204,000 after purchasing an additional 497,379 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Trevi Therapeutics by 187.0% during the fourth quarter. Ameriprise Financial Inc. now owns 96,784 shares of the company's stock valued at $399,000 after purchasing an additional 63,067 shares in the last quarter. Vontobel Holding Ltd. acquired a new stake in shares of Trevi Therapeutics in the first quarter valued at about $197,000. Finally, Polar Asset Management Partners Inc. purchased a new stake in shares of Trevi Therapeutics during the first quarter worth about $403,000. 95.76% of the stock is owned by institutional investors and hedge funds.

Trevi Therapeutics Price Performance

Trevi Therapeutics stock traded down $0.10 during trading on Tuesday, reaching $7.96. 2,974,906 shares of the company were exchanged, compared to its average volume of 2,988,989. The stock's 50 day simple moving average is $7.45 and its two-hundred day simple moving average is $6.58. The company has a market capitalization of $969.37 million, a P/E ratio of -18.95 and a beta of 0.71. Trevi Therapeutics, Inc. has a 52-week low of $2.36 and a 52-week high of $9.92.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. As a group, equities analysts forecast that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current year.

Wall Street Analyst Weigh In

TRVI has been the topic of a number of research reports. Morgan Stanley began coverage on shares of Trevi Therapeutics in a research note on Thursday, August 21st. They issued an "overweight" rating and a $18.00 price target on the stock. HC Wainwright began coverage on Trevi Therapeutics in a report on Wednesday, May 28th. They set a "buy" rating and a $21.00 target price for the company. Cantor Fitzgerald began coverage on Trevi Therapeutics in a research note on Tuesday, July 1st. They issued an "overweight" rating and a $25.00 price target on the stock. D. Boral Capital reiterated a "buy" rating and set a $21.00 price target on shares of Trevi Therapeutics in a research report on Monday, June 2nd. Finally, Oppenheimer restated an "outperform" rating on shares of Trevi Therapeutics in a report on Monday, June 2nd. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $21.75.

About Trevi Therapeutics

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.