Trevena Inc (NASDAQ:TRVN) was the target of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 8,481,679 shares, a drop of 41.2% from the October 15th total of 14,428,796 shares. Based on an average trading volume of 3,940,966 shares, the days-to-cover ratio is presently 2.2 days. Approximately 14.2% of the shares of the stock are sold short.
A number of research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Trevena from a “hold” rating to a “buy” rating and set a $0.75 price objective on the stock in a research note on Thursday. HC Wainwright cut shares of Trevena from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $3.00 to $0.75 in a research note on Monday, November 5th. JMP Securities lifted their price objective on shares of Trevena from $4.00 to $15.00 and gave the company an “outperform” rating in a research note on Friday, October 12th. Needham & Company LLC cut shares of Trevena from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. Finally, Jefferies Financial Group cut shares of Trevena from a “buy” rating to a “hold” rating and decreased their price objective for the company from $10.00 to $1.00 in a research note on Wednesday, October 10th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Trevena presently has an average rating of “Buy” and a consensus price target of $5.42.
Shares of NASDAQ:TRVN opened at $0.66 on Friday. The company has a market capitalization of $47.17 million, a P/E ratio of -0.54 and a beta of 0.61. The company has a current ratio of 3.40, a quick ratio of 3.40 and a debt-to-equity ratio of 0.28. Trevena has a 1 year low of $0.55 and a 1 year high of $3.58.
Trevena (NASDAQ:TRVN) last issued its earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.07. The company had revenue of $3.00 million during the quarter, compared to analyst estimates of $3.00 million. As a group, equities analysts predict that Trevena will post -0.55 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of the business. Northern Trust Corp boosted its position in Trevena by 6.6% in the first quarter. Northern Trust Corp now owns 579,697 shares of the biopharmaceutical company’s stock valued at $950,000 after buying an additional 35,967 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Trevena by 635.7% in the first quarter. JPMorgan Chase & Co. now owns 89,228 shares of the biopharmaceutical company’s stock valued at $146,000 after buying an additional 77,100 shares in the last quarter. LMR Partners LLP acquired a new stake in Trevena in the second quarter valued at approximately $207,000. GSA Capital Partners LLP boosted its position in Trevena by 186.2% in the second quarter. GSA Capital Partners LLP now owns 351,847 shares of the biopharmaceutical company’s stock valued at $507,000 after buying an additional 228,900 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new stake in Trevena in the second quarter valued at approximately $411,000. Hedge funds and other institutional investors own 42.33% of the company’s stock.
Trevena Company Profile
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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