Trevena Inc (NASDAQ:TRVN) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 4,958,578 shares, a growth of 46.1% from the February 28th total of 3,394,600 shares. Approximately 13.4% of the company’s shares are short sold. Based on an average daily volume of 1,345,069 shares, the days-to-cover ratio is currently 3.7 days.
Shares of Trevena (NASDAQ:TRVN) opened at 3.55 on Friday. Trevena has a one year low of $3.26 and a one year high of $9.49. The company’s market capitalization is $202.81 million. The firm has a 50 day moving average price of $5.00 and a 200 day moving average price of $5.83.
Trevena (NASDAQ:TRVN) last released its quarterly earnings data on Wednesday, March 8th. The biopharmaceutical company reported ($0.67) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.62) by $0.05. Trevena had a negative net margin of 841.00% and a negative return on equity of 66.50%. During the same period last year, the company posted ($0.30) EPS. On average, equities research analysts predict that Trevena will post ($1.67) EPS for the current fiscal year.
TRVN has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Trevena from a “hold” rating to a “sell” rating in a report on Tuesday, March 14th. Ladenburg Thalmann Financial Services initiated coverage on Trevena in a report on Thursday, February 2nd. They issued a “buy” rating and a $15.00 price objective for the company. Cowen and Company reiterated a “buy” rating on shares of Trevena in a report on Tuesday, February 21st. Aegis reiterated a “positive” rating and issued a $14.00 price objective on shares of Trevena in a report on Wednesday, February 22nd. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $11.00 price objective on shares of Trevena in a report on Thursday, February 16th. Two research analysts have rated the stock with a sell rating and eleven have given a buy rating to the stock. Trevena presently has a consensus rating of “Buy” and an average target price of $11.73.
Several large investors have recently added to or reduced their stakes in TRVN. Wells Fargo & Company MN increased its stake in Trevena by 51.9% in the third quarter. Wells Fargo & Company MN now owns 15,393 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 5,261 shares during the period. National Planning Corp increased its stake in Trevena by 7.8% in the fourth quarter. National Planning Corp now owns 21,512 shares of the biopharmaceutical company’s stock valued at $162,000 after buying an additional 1,560 shares during the period. Ellington Management Group LLC purchased a new stake in Trevena during the fourth quarter valued at $138,000. Piermont Capital Management Inc. purchased a new stake in Trevena during the third quarter valued at $529,000. Finally, Russell Investments Group Ltd. purchased a new stake in Trevena during the fourth quarter valued at $483,000. 69.28% of the stock is currently owned by institutional investors.
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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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