Trevena (TRVN) Shares Up 6.4%

Trevena Inc (NASDAQ:TRVN) shares shot up 6.4% during mid-day trading on Monday . The stock traded as high as $1.57 and last traded at $1.50. 4,362,201 shares were traded during trading, a decline of 23% from the average session volume of 5,656,964 shares. The stock had previously closed at $1.41.

Several brokerages recently issued reports on TRVN. Zacks Investment Research downgraded shares of Trevena from a “buy” rating to a “hold” rating in a research report on Thursday, December 13th. HC Wainwright lowered shares of Trevena from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $3.00 to $0.75 in a research report on Monday, November 5th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Trevena presently has a consensus rating of “Buy” and a consensus price target of $5.54.

The company has a quick ratio of 4.30, a current ratio of 4.30 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $116.08 million, a PE ratio of -1.24 and a beta of 2.62.

Trevena (NASDAQ:TRVN) last issued its quarterly earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.07. The firm had revenue of $3.00 million for the quarter, compared to analyst estimates of $3.00 million. As a group, equities research analysts predict that Trevena Inc will post -0.37 earnings per share for the current year.

In other news, CEO Maxine Gowen purchased 50,000 shares of the business’s stock in a transaction dated Friday, February 1st. The shares were acquired at an average price of $1.02 per share, with a total value of $51,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leon O. Moulder, Jr. bought 100,000 shares of the business’s stock in a transaction on Friday, February 1st. The shares were acquired at an average price of $1.02 per share, for a total transaction of $102,000.00. The disclosure for this purchase can be found here. Corporate insiders own 4.60% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in Trevena by 17.5% in the third quarter. JPMorgan Chase & Co. now owns 541,099 shares of the biopharmaceutical company’s stock valued at $1,147,000 after buying an additional 80,437 shares during the period. Virtu Financial LLC acquired a new position in Trevena in the fourth quarter valued at approximately $82,000. Renaissance Technologies LLC lifted its holdings in Trevena by 67.2% in the third quarter. Renaissance Technologies LLC now owns 872,300 shares of the biopharmaceutical company’s stock valued at $1,849,000 after buying an additional 350,600 shares during the period. Millennium Management LLC lifted its holdings 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 buying an additional 532,129 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Trevena by 29.2% in the third quarter. Vanguard Group Inc. now owns 2,618,634 shares of the biopharmaceutical company’s stock valued at $5,552,000 after buying an additional 592,152 shares during the period. Institutional investors own 37.94% of the company’s stock.

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Trevena Company Profile (NASDAQ:TRVN)

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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