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

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Trevena in a research note on Tuesday, April 2nd. StockNews.com assumed coverage on Trevena in a research note on Monday, April 22nd. They issued a “sell” rating for the company.

Institutional Investors Weigh In On Trevena

An institutional investor recently bought a new position in Trevena stock. Jump Financial LLC purchased a new position in shares of Trevena, Inc. (NASDAQ:TRVN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 44,396 shares of the biopharmaceutical company’s stock, valued at approximately $27,000. Jump Financial LLC owned about 0.32% of Trevena as of its most recent SEC filing. 13.56% of the stock is owned by hedge funds and other institutional investors.

Trevena Stock Down 4.4 %

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

Trevena (NASDAQ:TRVN) last announced its 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 during the quarter, compared to analysts’ expectations of $0.09 million. Analysts anticipate that Trevena will post -1.28 EPS for the current fiscal year.

Trevena Company Profile

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.