Trevena Inc (NASDAQ:TRVN)’s share price fell 7.5% during trading on Friday . The company traded as low as $0.93 and last traded at $0.98, 744,600 shares traded hands during mid-day trading. A decline of 58% from the average session volume of 1,770,284 shares. The stock had previously closed at $1.06.
A number of research firms have commented on TRVN. HC Wainwright set a $4.00 target price on Trevena and gave the stock a “buy” rating in a report on Monday, June 24th. Zacks Investment Research upgraded Trevena from a “hold” rating to a “buy” rating and set a $1.00 price target on the stock in a research note on Tuesday, August 13th. Finally, ValuEngine upgraded Trevena from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $5.25.
The stock has a market capitalization of $98.12 million, a PE ratio of -2.33 and a beta of 2.61. The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 0.19. The stock has a 50 day moving average price of $0.91 and a 200-day moving average price of $1.16.
Several hedge funds have recently added to or reduced their stakes in TRVN. Wells Fargo & Company MN boosted its stake in shares of Trevena by 1,993.8% in the 2nd quarter. Wells Fargo & Company MN now owns 104,688 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 99,688 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Trevena in the 2nd quarter worth $264,000. Bank of New York Mellon Corp boosted its stake in shares of Trevena by 80.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 133,925 shares of the biopharmaceutical company’s stock worth $138,000 after buying an additional 59,773 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Trevena by 50.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,928,850 shares of the biopharmaceutical company’s stock worth $1,987,000 after buying an additional 644,812 shares during the last quarter. Finally, BlackRock Inc. lifted its position in Trevena by 1.9% during the second quarter. BlackRock Inc. now owns 2,647,830 shares of the biopharmaceutical company’s stock valued at $2,727,000 after purchasing an additional 49,900 shares in the last quarter. Hedge funds and other institutional investors own 24.17% of the company’s stock.
Trevena Company Profile (NASDAQ:TRVN)
Trevena, Inc, a biopharmaceutical company, focuses on the development and commercialization of treatment options that target and treat diseases affecting the central nervous system. Its product candidates include Oliceridine injection, a G protein biased mu-opioid receptor (MOR) ligand that has completed Phase III clinical trials for the management of moderate-to-severe acute pain where intravenous administration is warranted; TRV250, a G protein biased delta- opioid receptor ligand, which is in Phase I clinical study for the treatment of acute migraine; TRV734, a small molecule G protein biased ligand of the MOR that has completed Phase I clinical study for the treatment of moderate-to-severe acute and chronic pain; TRV027 for the treatment of acute heart failure; and TRV045, a novel S1P modulator for managing chronic pain.
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