Trevena, Inc. (TRVN) Stock Price Up -6.4%
Trevena, Inc. (NASDAQ:TRVN)’s share price rose 6.4% during trading on Monday . The company traded as high as $2.20 and last traded at $2.05. Approximately 519,721 shares changed hands during mid-day trading, a decline of 4% from the average daily volume of 541,511 shares. The stock had previously closed at $2.19.
TRVN has been the subject of a number of recent research reports. HC Wainwright reduced their target price on shares of Trevena from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday. Oppenheimer Holdings, Inc. set a $8.00 target price on shares of Trevena and gave the stock a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research downgraded shares of Trevena from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th. Barclays PLC downgraded shares of Trevena from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $15.00 to $2.50 in a report on Monday. Finally, Cowen and Company restated a “buy” rating and set a $10.00 price objective on shares of Trevena in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $9.63.
The company’s 50 day moving average price is $2.47 and its 200 day moving average price is $2.72. The stock’s market cap is $127.15 million.
Trevena (NASDAQ:TRVN) last released its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.35) EPS for the quarter, hitting the consensus estimate of ($0.35). Equities research analysts expect that Trevena, Inc. will post ($1.40) EPS for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. American International Group Inc. increased its position in Trevena by 7.1% during the first quarter. American International Group Inc. now owns 27,541 shares of the biopharmaceutical company’s stock worth $101,000 after buying an additional 1,816 shares during the period. SG Americas Securities LLC grew its stake in shares of Trevena by 81.0% in the 1st quarter. SG Americas Securities LLC now owns 35,926 shares of the biopharmaceutical company’s stock valued at $132,000 after purchasing an additional 16,079 shares during the last quarter. Nationwide Fund Advisors grew its stake in shares of Trevena by 92.1% in the 2nd quarter. Nationwide Fund Advisors now owns 49,132 shares of the biopharmaceutical company’s stock valued at $113,000 after purchasing an additional 23,557 shares during the last quarter. Weiss Multi Strategy Advisers LLC purchased a new position in shares of Trevena in the 1st quarter valued at approximately $184,000. Finally, Bourgeon Capital Management LLC grew its stake in shares of Trevena by 56.8% in the 2nd quarter. Bourgeon Capital Management LLC now owns 53,031 shares of the biopharmaceutical company’s stock valued at $122,000 after purchasing an additional 19,200 shares during the last quarter. 60.09% of the stock is currently owned by institutional investors.
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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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