Trevena Inc. (TRVN) Trading Down 5.2%
Trevena Inc. (NASDAQ:TRVN) dropped 5.2% on Wednesday . The company traded as low as $6.74 and last traded at $6.74, with a volume of 335,510 shares trading hands. The stock had previously closed at $7.11.
TRVN has been the subject of a number of recent analyst reports. FBR & Co reaffirmed a “buy” rating and set a $16.00 price target on shares of Trevena in a report on Wednesday, May 4th. Needham & Company LLC reaffirmed a “buy” rating on shares of Trevena in a report on Tuesday, May 3rd. Brean Capital reaffirmed a “buy” rating on shares of Trevena in a report on Tuesday, May 3rd. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Trevena in a report on Tuesday, May 3rd. Two analysts have rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $14.70.
The stock has a 50-day moving average price of $6.82 and a 200-day moving average price of $7.80. The firm’s market cap is $352.17 million.
Trevena (NASDAQ:TRVN) last announced its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by $0.03. Analysts anticipate that Trevena Inc. will post ($1.29) earnings per share for the current year.
In other Trevena news, CEO Maxine Gowen purchased 22,084 shares of the business’s stock in a transaction 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 acquisition, the chief executive officer now directly owns 279,025 shares of the company’s stock, valued at approximately $1,986,658. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Several large investors have recently bought and sold shares of the company. Jennison Associates LLC increased its stake in Trevena by 0.3% in the fourth quarter. Jennison Associates LLC now owns 702,341 shares of the biopharmaceutical company’s stock worth $7,375,000 after buying an additional 2,341 shares in the last quarter. California State Teachers Retirement System increased its stake in Trevena by 77.9% in the fourth quarter. California State Teachers Retirement System now owns 103,238 shares of the biopharmaceutical company’s stock worth $1,084,000 after buying an additional 45,212 shares in the last quarter. EAM Investors LLC increased its stake in Trevena by 21.4% in the fourth quarter. EAM Investors LLC now owns 350,222 shares of the biopharmaceutical company’s stock worth $3,677,000 after buying an additional 61,804 shares in the last quarter. Marshall Wace LLP purchased a new stake in Trevena during the fourth quarter worth $1,929,000. Finally, AWM Investment Company Inc. purchased a new stake in Trevena during the fourth quarter worth $2,100,000.
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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