Short Interest in Trevena, Inc. (NASDAQ:TRVN) Decreases By 47.8%

Trevena, Inc. (NASDAQ:TRVN) was the target of a large decline in short interest in April. As of April 15th, there was short interest totalling 58,900 shares, a decline of 47.8% from the March 31st total of 112,800 shares. Based on an average daily volume of 203,300 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.3% of the shares of the stock are sold short.

Institutional Trading of Trevena

A hedge fund recently bought a new stake in Trevena stock. Jump Financial LLC purchased a new stake in shares of Trevena, Inc. (NASDAQ:TRVN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 44,396 shares of the biopharmaceutical company’s stock, valued at approximately $27,000. Jump Financial LLC owned 0.32% of Trevena as of its most recent filing with the Securities & Exchange Commission. 13.56% of the stock is currently owned by institutional investors.

Trevena Stock Down 4.4 %

Shares of TRVN traded down $0.02 during mid-day trading on Friday, hitting $0.39. The company’s stock had a trading volume of 46,616 shares, compared to its average volume of 380,506. The company’s 50-day moving average is $0.48 and its 200-day moving average is $0.57. Trevena has a 52-week low of $0.30 and a 52-week high of $3.28. The firm has a market capitalization of $7.16 million, a price-to-earnings ratio of -0.12 and a beta of 1.10. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 8.35.

Trevena (NASDAQ:TRVN) last issued its quarterly earnings results on Monday, April 1st. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter. The business had revenue of ($0.08) million for the quarter, compared to analyst estimates of $0.09 million. On average, equities research analysts forecast that Trevena will post -1.28 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of Trevena in a report on Monday, April 22nd. They issued a “sell” rating on the stock. HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of Trevena in a report on Tuesday, April 2nd.

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 lead product candidates include OLINVYK (Oliceridine) injection, a G protein biased mu-opioid receptor (MOR) ligand for the management of moderate-to-severe acute pain; TRV250, a G protein biased delta-opioid receptor agonist for the treatment of acute migraine; TRV734, a small molecule G protein biased ligand of the MOR for the treatment of moderate-to-severe acute and chronic pain; and TRV045, a novel S1P modulator for managing chronic pain.