Alps Advisors Inc. Boosts Stake in Trevena Inc. (TRVN)
Alps Advisors Inc. boosted its stake in Trevena Inc. (NASDAQ:TRVN) by 28.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,294 shares of the biopharmaceutical company’s stock after buying an additional 16,169 shares during the period. Alps Advisors Inc.’s holdings in Trevena were worth $462,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. National Planning Corp raised its stake in Trevena by 21.9% in the first quarter. National Planning Corp now owns 19,452 shares of the biopharmaceutical company’s stock worth $151,000 after buying an additional 3,500 shares during the period. First Manhattan Co. bought a new stake in Trevena during the second quarter worth $729,000. State Street Corp raised its stake in Trevena by 7.9% in the first quarter. State Street Corp now owns 412,015 shares of the biopharmaceutical company’s stock worth $3,407,000 after buying an additional 30,257 shares during the period. Vivo Capital LLC bought a new stake in Trevena during the first quarter worth $9,924,000. Finally, Wellington Management Group LLP raised its stake in Trevena by 47.0% in the first quarter. Wellington Management Group LLP now owns 5,714,773 shares of the biopharmaceutical company’s stock worth $47,262,000 after buying an additional 1,827,970 shares during the period. 75.43% of the stock is owned by hedge funds and other institutional investors.
Trevena Inc. (NASDAQ:TRVN) traded up 1.36% on Wednesday, hitting $6.73. The company’s stock had a trading volume of 187,537 shares. The firm’s market cap is $351.16 million. The firm has a 50 day moving average of $6.96 and a 200 day moving average of $7.21. Trevena Inc. has a 12 month low of $5.58 and a 12 month high of $13.02.
Trevena (NASDAQ:TRVN) last issued its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by $0.01. Trevena had a negative net margin of 841.00% and a negative return on equity of 45.01%. Equities research analysts forecast that Trevena Inc. will post ($1.55) earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on TRVN shares. TheStreet lowered Trevena from a “hold” rating to a “sell” rating in a research note on Friday, June 17th. Cowen and Company reissued a “buy” rating and issued a $13.00 target price on shares of Trevena in a research note on Friday, August 5th. Brean Capital reissued a “buy” rating and issued a $14.00 target price on shares of Trevena in a research note on Friday, August 5th. FBR & Co restated a “buy” rating and set a $13.00 price target on shares of Trevena in a report on Thursday, August 4th. Finally, Zacks Investment Research upgraded Trevena from a “sell” rating to a “hold” rating in a report on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $14.30.
Trevena Company Profile
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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