Shares of Trevena Inc (NASDAQ:TRVN) shot up 7.5% during trading on Thursday . The company traded as high as $1.08 and last traded at $1.06, 635,653 shares were traded during trading. A decline of 64% from the average session volume of 1,775,651 shares. The stock had previously closed at $0.99.
A number of brokerages have recently commented on TRVN. ValuEngine raised Trevena from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. HC Wainwright set a $4.00 price objective on Trevena and gave the stock a “buy” rating in a research note on Monday, June 24th. Finally, Zacks Investment Research raised Trevena from a “hold” rating to a “buy” rating and set a $1.00 price objective on the stock in a research note on Tuesday, August 13th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $5.25.
The stock has a 50 day moving average of $0.91 and a 200 day moving average of $1.16. The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $91.27 million, a price-to-earnings ratio of -2.35 and a beta of 2.61.
Several institutional investors have recently bought and sold shares of TRVN. Wells Fargo & Company MN lifted its stake in shares of Trevena by 1,993.8% in the second quarter. Wells Fargo & Company MN now owns 104,688 shares of the biopharmaceutical company’s stock worth $107,000 after acquiring an additional 99,688 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of Trevena in the second quarter worth approximately $264,000. Bank of New York Mellon Corp lifted its stake in shares of Trevena by 80.6% in the second quarter. Bank of New York Mellon Corp now owns 133,925 shares of the biopharmaceutical company’s stock worth $138,000 after acquiring an additional 59,773 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Trevena by 50.2% in the second quarter. Renaissance Technologies LLC now owns 1,928,850 shares of the biopharmaceutical company’s stock worth $1,987,000 after acquiring an additional 644,812 shares during the period. Finally, BlackRock Inc. lifted its stake in shares of Trevena by 1.9% in the second quarter. BlackRock Inc. now owns 2,647,830 shares of the biopharmaceutical company’s stock worth $2,727,000 after acquiring an additional 49,900 shares during the period. 24.17% of the stock is currently owned by institutional investors.
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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