Millennium Management LLC grew its holdings in shares of Trevena Inc (NASDAQ:TRVN) by 112.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,005,820 shares of the biopharmaceutical company’s stock after buying an additional 532,129 shares during the period. Millennium Management LLC owned 1.32% of Trevena worth $1,448,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of TRVN. Paloma Partners Management Co bought a new position in shares of Trevena during the 2nd quarter worth about $411,000. Renaissance Technologies LLC lifted its holdings in shares of Trevena by 264.1% during the 2nd quarter. Renaissance Technologies LLC now owns 521,700 shares of the biopharmaceutical company’s stock worth $751,000 after acquiring an additional 378,400 shares during the period. FMR LLC lifted its holdings in shares of Trevena by 24.0% during the 2nd quarter. FMR LLC now owns 5,288,100 shares of the biopharmaceutical company’s stock worth $7,615,000 after acquiring an additional 1,022,830 shares during the period. GSA Capital Partners LLP lifted its holdings in shares of Trevena by 186.2% during the 2nd quarter. GSA Capital Partners LLP now owns 351,847 shares of the biopharmaceutical company’s stock worth $507,000 after acquiring an additional 228,900 shares during the period. Finally, LMR Partners LLP bought a new position in shares of Trevena during the 2nd quarter worth about $207,000. 42.81% of the stock is currently owned by hedge funds and other institutional investors.
TRVN has been the subject of a number of analyst reports. JMP Securities raised their price objective on shares of Trevena from $4.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, October 12th. Jefferies Financial Group downgraded shares of Trevena from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $10.00 to $1.00 in a report on Wednesday, October 10th. HC Wainwright reduced their price objective on shares of Trevena from $7.00 to $3.00 and set a “buy” rating for the company in a report on Friday, October 12th. Needham & Company LLC downgraded shares of Trevena from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Finally, Zacks Investment Research raised shares of Trevena from a “hold” rating to a “buy” rating and set a $1.75 price objective for the company in a report on Friday, August 17th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Trevena presently has an average rating of “Buy” and a consensus price target of $6.11.
NASDAQ:TRVN opened at $0.91 on Thursday. The stock has a market cap of $64.52 million, a PE ratio of -0.76 and a beta of -0.38. Trevena Inc has a 52 week low of $0.76 and a 52 week high of $3.58. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 0.28.
Trevena (NASDAQ:TRVN) last released its quarterly earnings data on Thursday, August 2nd. The biopharmaceutical company reported ($0.13) EPS for the quarter, hitting analysts’ consensus estimates of ($0.13). The business had revenue of $2.50 million for the quarter, compared to the consensus estimate of $5.50 million. On average, equities research analysts expect that Trevena Inc will post -0.54 EPS for the current year.
Trevena, Inc, a biopharmaceutical company, develops therapies based on breakthrough science to benefit patients and healthcare providers confronting serious medical conditions. Its product candidates include OLINVO injection, a G protein biased ligand of the µ opioid receptor that has completed Phase III clinical trials for the management of moderate-to-severe acute pain where intravenous administration is preferred; TRV250, a G protein biased ligand targeting the d-receptor, which is in Phase I clinical study for the treatment of migraine; and TRV734, a small molecule G protein biased ligand of the µ opioid receptor that has completed Phase I clinical study for the treatment of moderate-to-severe acute and chronic pain, as well as TRV027 for the treatment of acute heart failure.
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