Trevena Inc (TRVN) Short Interest Update

Trevena Inc (NASDAQ:TRVN) saw a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 8,481,679 shares, a decline of 41.2% from the October 15th total of 14,428,796 shares. Currently, 14.2% of the company’s shares are short sold. Based on an average daily volume of 3,940,966 shares, the short-interest ratio is presently 2.2 days.

TRVN has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Trevena from a “hold” rating to a “buy” rating and set a $0.75 target price for the company in a research note on Thursday. HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of Trevena in a research note on Monday, August 13th. Needham & Company LLC downgraded shares of Trevena from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. Jefferies Financial Group downgraded shares of Trevena from a “buy” rating to a “hold” rating and lowered their target price for the stock from $10.00 to $1.00 in a research note on Wednesday, October 10th. Finally, JMP Securities lifted their target price on shares of Trevena from $4.00 to $15.00 and gave the stock an “outperform” rating in a research note on Friday, October 12th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Trevena currently has a consensus rating of “Buy” and a consensus price target of $5.42.

Shares of NASDAQ TRVN opened at $0.66 on Friday. Trevena has a twelve month low of $0.55 and a twelve month high of $3.58. The firm has a market cap of $47.17 million, a P/E ratio of -0.54 and a beta of 0.61. 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 announced its earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.07. The firm had revenue of $3.00 million for the quarter, compared to the consensus estimate of $3.00 million. On average, research analysts predict that Trevena will post -0.55 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in TRVN. BlackRock Inc. raised its stake in Trevena by 151.4% during the third quarter. BlackRock Inc. now owns 1,873,311 shares of the biopharmaceutical company’s stock worth $3,971,000 after buying an additional 1,128,041 shares during the last quarter. FMR LLC increased its stake in Trevena by 24.0% in the second quarter. FMR LLC now owns 5,288,100 shares of the biopharmaceutical company’s stock valued at $7,615,000 after purchasing an additional 1,022,830 shares in the last quarter. Millennium Management LLC increased its stake in Trevena by 112.3% in the second quarter. Millennium Management LLC now owns 1,005,820 shares of the biopharmaceutical company’s stock valued at $1,448,000 after purchasing an additional 532,129 shares in the last quarter. Renaissance Technologies LLC increased its stake in Trevena by 264.1% in the second quarter. Renaissance Technologies LLC now owns 521,700 shares of the biopharmaceutical company’s stock valued at $751,000 after purchasing an additional 378,400 shares in the last quarter. Finally, Paloma Partners Management Co bought a new stake in Trevena in the second quarter valued at $411,000. 42.33% of the stock is owned by institutional investors and hedge funds.

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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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