Trevena (NASDAQ:TRVN) Stock Rating Lowered by Zacks Investment Research

Trevena (NASDAQ:TRVN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “Trevena, Inc. is a biopharmaceutical company. It focuses on discovering and developing therapeutics for G protein coupled receptors. The Company’s product pipeline includes TRV027, TRV130, TRV734 and Delta opioid biased ligand which are in different clinical phases. Trevena, Inc. is based in King of Prussia, Pennsylvania. “

Shares of NASDAQ:TRVN opened at $2.23 on Tuesday. The business’s 50 day moving average is $2.35 and its 200 day moving average is $2.39. The stock has a market cap of $350.18 million, a P/E ratio of -9.70 and a beta of 2.59. Trevena has a 52-week low of $0.46 and a 52-week high of $3.68.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Trevena by 12.2% during the 4th quarter. BlackRock Inc. now owns 2,631,803 shares of the biopharmaceutical company’s stock worth $5,632,000 after purchasing an additional 285,439 shares during the period. Renaissance Technologies LLC lifted its stake in Trevena by 378.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,091,200 shares of the biopharmaceutical company’s stock valued at $2,335,000 after buying an additional 863,126 shares in the last quarter. California Public Employees Retirement System lifted its stake in Trevena by 136.2% in the 3rd quarter. California Public Employees Retirement System now owns 295,200 shares of the biopharmaceutical company’s stock valued at $883,000 after buying an additional 170,200 shares in the last quarter. Northern Trust Corp lifted its stake in Trevena by 11.3% in the 4th quarter. Northern Trust Corp now owns 282,702 shares of the biopharmaceutical company’s stock valued at $605,000 after buying an additional 28,790 shares in the last quarter. Finally, ExodusPoint Capital Management LP lifted its stake in Trevena by 1,789.6% in the 4th quarter. ExodusPoint Capital Management LP now owns 246,711 shares of the biopharmaceutical company’s stock worth $528,000 after purchasing an additional 233,655 shares in the last quarter. 11.62% of the stock is currently owned by hedge funds and other institutional investors.

About Trevena

Trevena, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel medicines for patients affected by central nervous system disorders. 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 agonist that has completed 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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