Trevena (NASDAQ:TRVN) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Trevena (NASDAQ:TRVN) in a report issued on Saturday. The firm issued a sell rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright reissued a buy rating and issued a $9.00 price objective on shares of Trevena in a research report on Tuesday, April 2nd.

Trevena Trading Down 2.7 %

Shares of Trevena stock opened at $0.40 on Friday. The stock has a fifty day simple moving average of $0.54 and a 200 day simple moving average of $0.59. Trevena has a 12-month low of $0.30 and a 12-month high of $3.28. The company has a market capitalization of $7.33 million, a P/E ratio of -0.13 and a beta of 1.10. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 8.35.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TRVN. Millennium Management LLC purchased a new position in Trevena in the second quarter worth $808,000. Armistice Capital LLC purchased a new position in shares of Trevena during the 4th quarter valued at $576,000. Renaissance Technologies LLC lifted its position in shares of Trevena by 222.4% during the 2nd quarter. Renaissance Technologies LLC now owns 994,200 shares of the biopharmaceutical company’s stock valued at $412,000 after buying an additional 685,800 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of Trevena by 10,526.3% during the 1st quarter. Captrust Financial Advisors now owns 201,900 shares of the biopharmaceutical company’s stock valued at $111,000 after buying an additional 200,000 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Trevena during the 2nd quarter valued at $70,000. Hedge funds and other institutional investors own 13.56% of the company’s stock.

About Trevena

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.