Rosalind Advisors Inc. Sells 200,000 Shares of Trevi Therapeutics, Inc. $TRVI

Rosalind Advisors Inc. cut its holdings in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 66.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 100,000 shares of the company’s stock after selling 200,000 shares during the quarter. Trevi Therapeutics makes up 0.3% of Rosalind Advisors Inc.’s investment portfolio, making the stock its 26th biggest position. Rosalind Advisors Inc.’s holdings in Trevi Therapeutics were worth $915,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Invesco Ltd. lifted its holdings in shares of Trevi Therapeutics by 49.9% in the 3rd quarter. Invesco Ltd. now owns 483,070 shares of the company’s stock worth $4,420,000 after acquiring an additional 160,731 shares during the last quarter. Sei Investments Co. bought a new position in shares of Trevi Therapeutics during the 3rd quarter valued at $785,000. Legal & General Group Plc grew its holdings in shares of Trevi Therapeutics by 870.5% during the 3rd quarter. Legal & General Group Plc now owns 81,972 shares of the company’s stock valued at $750,000 after purchasing an additional 73,526 shares during the last quarter. Russell Investments Group Ltd. raised its position in Trevi Therapeutics by 1,144.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 56,460 shares of the company’s stock worth $517,000 after purchasing an additional 51,924 shares during the period. Finally, DLD Asset Management LP purchased a new position in Trevi Therapeutics in the 3rd quarter worth $503,000. 95.76% of the stock is currently owned by institutional investors.

Trevi Therapeutics Stock Down 6.2%

Shares of TRVI opened at $11.20 on Friday. The stock has a market capitalization of $1.44 billion, a P/E ratio of -30.27 and a beta of 0.94. The firm has a fifty day simple moving average of $11.19 and a two-hundred day simple moving average of $10.80. Trevi Therapeutics, Inc. has a twelve month low of $4.85 and a twelve month high of $14.39.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TRVI. HC Wainwright restated a “buy” rating and set a $21.00 price target on shares of Trevi Therapeutics in a research report on Monday. Morgan Stanley lifted their price objective on Trevi Therapeutics from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. B. Riley Financial raised Trevi Therapeutics to a “strong-buy” rating in a research note on Monday, November 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Trevi Therapeutics in a report on Wednesday, January 21st. Finally, Leerink Partners raised their price target on Trevi Therapeutics from $13.00 to $16.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $21.10.

Trevi Therapeutics Company Profile

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel non-opioid therapies for the management of chronic and acute pain. The company leverages proprietary drug delivery platforms and targeted molecular approaches to address high unmet needs in cancer-related pain, chemotherapy-induced neuropathy and other severe pain conditions.

Its lead product candidate is a proprietary formulation of tetrodotoxin (TTX), a sodium-channel blocking agent being evaluated in early-stage clinical trials for moderate-to-severe pain associated with advanced cancer and peripheral neuropathy.