Ally Bridge Group NY LLC Sells 152,126 Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI)

Ally Bridge Group NY LLC lowered its position in Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 10.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,322,800 shares of the company’s stock after selling 152,126 shares during the period. Trevi Therapeutics accounts for about 2.4% of Ally Bridge Group NY LLC’s investment portfolio, making the stock its 26th largest holding. Ally Bridge Group NY LLC owned about 1.72% of Trevi Therapeutics worth $4,418,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets raised its holdings in Trevi Therapeutics by 130.9% in the third quarter. BNP Paribas Financial Markets now owns 11,930 shares of the company’s stock worth $40,000 after purchasing an additional 6,764 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of Trevi Therapeutics in the 1st quarter worth about $47,000. Hsbc Holdings PLC purchased a new position in Trevi Therapeutics during the 2nd quarter valued at about $61,000. Intech Investment Management LLC purchased a new position in Trevi Therapeutics during the 3rd quarter valued at about $63,000. Finally, The Manufacturers Life Insurance Company boosted its stake in Trevi Therapeutics by 87.6% during the second quarter. The Manufacturers Life Insurance Company now owns 24,524 shares of the company’s stock worth $73,000 after acquiring an additional 11,450 shares in the last quarter. Hedge funds and other institutional investors own 95.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TRVI shares. Leerink Partnrs upgraded shares of Trevi Therapeutics to a “strong-buy” rating in a report on Monday, September 9th. Leerink Partners assumed coverage on Trevi Therapeutics in a report on Monday, September 9th. They issued an “outperform” rating and a $7.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $8.00 price target on shares of Trevi Therapeutics in a report on Friday, November 8th. Raymond James started coverage on shares of Trevi Therapeutics in a research note on Friday, August 30th. They issued an “outperform” rating and a $9.00 price target on the stock. Finally, HC Wainwright restated a “buy” rating and set a $6.00 price objective on shares of Trevi Therapeutics in a research note on Tuesday, October 22nd. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $7.43.

Insider Activity

In related news, CEO Jennifer L. Good sold 10,981 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $3.02, for a total transaction of $33,162.62. Following the completion of the sale, the chief executive officer now owns 213,313 shares in the company, valued at approximately $644,205.26. This represents a 4.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 17,040 shares of company stock valued at $51,540 in the last ninety days. 24.37% of the stock is currently owned by company insiders.

Trevi Therapeutics Stock Performance

Shares of NASDAQ:TRVI opened at $2.82 on Thursday. The firm has a market cap of $216.76 million, a price-to-earnings ratio of -6.41 and a beta of 1.01. The business has a 50-day simple moving average of $3.06 and a two-hundred day simple moving average of $2.91. Trevi Therapeutics, Inc. has a fifty-two week low of $0.98 and a fifty-two week high of $4.00.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). During the same quarter in the previous year, the firm earned ($0.08) EPS. As a group, research analysts predict that Trevi Therapeutics, Inc. will post -0.49 earnings per share 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.