Trevena Inc. (TRVN) Shares Down 4%
Trevena Inc. (NASDAQ:TRVN) fell 4% during mid-day trading on Tuesday . The company traded as low as $6.41 and last traded at $6.41, with a volume of 99,874 shares traded. The stock had previously closed at $6.68.
A number of brokerages recently issued reports on TRVN. FBR & Co increased their target price on shares of Trevena from $13.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 17th. Cowen and Company reiterated a “buy” rating on shares of Trevena in a research report on Sunday, April 17th. TheStreet cut shares of Trevena from a “hold” rating to a “sell” rating in a research report on Friday, June 17th. Zacks Investment Research cut shares of Trevena from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Finally, Brean Capital reiterated a “buy” rating on shares of Trevena in a research report on Tuesday, May 3rd. Two equities research analysts have rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $14.70.
The stock’s 50-day moving average is $6.78 and its 200 day moving average is $7.70. The firm’s market cap is $333.91 million.
Trevena (NASDAQ:TRVN) last posted its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.35) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.32) by $0.03. On average, equities research analysts expect that Trevena Inc. will post ($1.29) earnings per share for the current fiscal year.
In related news, CEO Maxine Gowen purchased 22,084 shares of the company’s stock in a transaction that occurred on Friday, May 27th. The stock was acquired at an average price of $7.12 per share, with a total value of $157,238.08. Following the completion of the purchase, the chief executive officer now directly owns 279,025 shares in the company, valued at $1,986,658. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
A number of hedge funds and institutional investors have modified their holdings of the company. California State Teachers Retirement System increased its position in shares of Trevena by 77.9% in the fourth quarter. California State Teachers Retirement System now owns 103,238 shares of the biopharmaceutical company’s stock valued at $1,084,000 after buying an additional 45,212 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Trevena during the fourth quarter valued at approximately $1,929,000. AWM Investment Company Inc. acquired a new position in shares of Trevena during the fourth quarter valued at approximately $2,100,000. Finally, Jennison Associates LLC increased its position in shares of Trevena by 0.3% in the fourth quarter. Jennison Associates LLC now owns 702,341 shares of the biopharmaceutical company’s stock valued at $7,375,000 after buying an additional 2,341 shares during the last quarter.
Trevena Inc is a clinical-stage biopharmaceutical company. The Company discovers, develops and intends to commercialize therapeutics that use an approach to target G protein coupled receptors (GPCRs). Using its product platform, the Company has identified and advanced three differentiated product candidates: Oliceridine (TRV130), TRV027 and TRV250.
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