Fred Alger Management LLC Acquires Shares of 76,544 Trevi Therapeutics, Inc. (NASDAQ:TRVI)

Fred Alger Management LLC acquired a new position in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 76,544 shares of the company’s stock, valued at approximately $256,000. Fred Alger Management LLC owned about 0.10% of Trevi Therapeutics at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets raised its holdings in Trevi Therapeutics by 130.9% during 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 purchased a new stake in Trevi Therapeutics in the first quarter valued at approximately $47,000. Hsbc Holdings PLC acquired a new position in shares of Trevi Therapeutics in the 2nd quarter valued at $61,000. Intech Investment Management LLC acquired a new position in Trevi Therapeutics in the third quarter valued at $63,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Trevi Therapeutics by 87.6% in the second quarter. The Manufacturers Life Insurance Company now owns 24,524 shares of the company’s stock valued at $73,000 after buying an additional 11,450 shares during the last quarter. Institutional investors and hedge funds own 95.76% of the company’s stock.

Trevi Therapeutics Trading Up 2.1 %

TRVI stock opened at $2.88 on Monday. The firm has a 50 day moving average of $3.04 and a 200-day moving average of $2.91. The company has a market cap of $221.37 million, a price-to-earnings ratio of -6.55 and a beta of 1.01. Trevi Therapeutics, Inc. has a 12-month low of $1.00 and a 12-month high of $4.00.

Trevi Therapeutics (NASDAQ:TRVI) last posted its earnings results on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). During the same period in the prior year, the firm posted ($0.08) earnings per share. Sell-side analysts forecast that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current fiscal year.

Insider Activity at Trevi Therapeutics

In other Trevi Therapeutics news, CEO Jennifer L. Good sold 10,981 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $3.02, for a total value of $33,162.62. Following the sale, the chief executive officer now owns 213,313 shares of the company’s stock, valued at $644,205.26. This represents a 4.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 17,040 shares of company stock valued at $51,540. Insiders own 24.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TRVI shares. HC Wainwright restated a “buy” rating and issued a $6.00 price target on shares of Trevi Therapeutics in a research report on Tuesday, October 22nd. Leerink Partners initiated coverage on Trevi Therapeutics in a research note on Monday, September 9th. They set an “outperform” rating and a $7.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $8.00 price objective on shares of Trevi Therapeutics in a research note on Friday, November 8th. B. Riley restated a “buy” rating and issued a $6.00 target price on shares of Trevi Therapeutics in a research note on Monday, October 7th. Finally, Raymond James assumed coverage on shares of Trevi Therapeutics in a report on Friday, August 30th. They set an “outperform” rating and a $9.00 price target for the company. 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, the company currently has an average rating of “Buy” and a consensus target price of $7.43.

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.