American International Group Inc. Buys 1,816 Shares of Trevena, Inc. (TRVN)
American International Group Inc. increased its stake in shares of Trevena, Inc. (NASDAQ:TRVN) by 7.1% during the first quarter, Holdings Channel reports. The firm owned 27,541 shares of the biopharmaceutical company’s stock after buying an additional 1,816 shares during the period. American International Group Inc.’s holdings in Trevena were worth $101,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Daiwa SB Investments Ltd. bought a new position in shares of Trevena during the first quarter valued at $126,000. SG Americas Securities LLC boosted its position in shares of Trevena by 81.0% in the first quarter. SG Americas Securities LLC now owns 35,926 shares of the biopharmaceutical company’s stock valued at $132,000 after buying an additional 16,079 shares during the period. Teachers Advisors LLC boosted its position in shares of Trevena by 6.2% in the fourth quarter. Teachers Advisors LLC now owns 77,523 shares of the biopharmaceutical company’s stock valued at $456,000 after buying an additional 4,505 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Trevena during the fourth quarter valued at $483,000. Finally, Wells Fargo & Company MN boosted its position in shares of Trevena by 38.4% in the first quarter. Wells Fargo & Company MN now owns 222,349 shares of the biopharmaceutical company’s stock valued at $817,000 after buying an additional 61,650 shares during the period. Institutional investors own 64.40% of the company’s stock.
Trevena, Inc. (TRVN) traded up 0.43% during trading on Friday, reaching $2.35. The company had a trading volume of 36,230 shares. The firm’s market capitalization is $140.29 million. The firm’s 50-day moving average price is $2.55 and its 200 day moving average price is $3.66. Trevena, Inc. has a one year low of $2.15 and a one year high of $8.00.
Trevena (NASDAQ:TRVN) last issued its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.35). Equities analysts forecast that Trevena, Inc. will post ($1.40) earnings per share for the current fiscal year.
Several brokerages have recently weighed in on TRVN. Oppenheimer Holdings, Inc. set a $10.00 price target on Trevena and gave the company a “buy” rating in a research report on Thursday, May 4th. Zacks Investment Research cut Trevena from a “hold” rating to a “sell” rating in a research report on Wednesday, July 26th. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price target (down from $11.00) on shares of Trevena in a research report on Friday, May 5th. HC Wainwright reiterated a “buy” rating on shares of Trevena in a research report on Monday, May 8th. Finally, Aegis restated a “buy” rating and set a $14.00 target price on shares of Trevena in a research report on Monday, April 17th. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. Trevena currently has a consensus rating of “Buy” and an average target price of $10.56.
Trevena Company Profile
Trevena Inc is a biopharmaceutical company, which is engaged in developing various therapies. The Company is developing OLINVO, a u-receptor G protein pathway selective modulator (u-GPS) for the management of moderate-to-severe acute pain where intravenous (IV) administration is preferred. It is focused on commercializing it in the United States for use in acute care settings, such as hospitals and ambulatory surgery centers.
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