California State Teachers Retirement System decreased its stake in Trevena Inc. (NASDAQ:TRVN) by 16.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 93,807 shares of the biopharmaceutical company’s stock after selling 18,509 shares during the period. California State Teachers Retirement System owned about 0.18% of Trevena worth $591,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of TRVN. Wellington Management Group LLP boosted its stake in shares of Trevena by 47.0% in the first quarter. Wellington Management Group LLP now owns 5,714,773 shares of the biopharmaceutical company’s stock valued at $47,262,000 after buying an additional 1,827,970 shares during the last quarter. Vivo Capital LLC acquired a new position in Trevena during the first quarter worth approximately $9,924,000. First Manhattan Co. acquired a new position in Trevena during the second quarter worth approximately $729,000. National Planning Corp boosted its position 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 in the last quarter. Finally, State Street Corp boosted its position 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 in the last quarter. 75.43% of the stock is currently owned by institutional investors.
Shares of Trevena Inc. (NASDAQ:TRVN) remained flat at $6.44 during trading on Friday. The company’s stock had a trading volume of 115,806 shares. The company’s market cap is $336.03 million. Trevena Inc. has a 12-month low of $5.58 and a 12-month high of $13.02. The company has a 50 day moving average price of $6.93 and a 200 day moving average price of $7.21.
Trevena (NASDAQ:TRVN) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.36) by $0.01. Trevena had a negative return on equity of 45.01% and a negative net margin of 841.00%. Equities research analysts forecast that Trevena Inc. will post ($1.55) earnings per share for the current year.
TRVN has been the topic of a number of analyst reports. Brean Capital set a $14.00 target price on Trevena and gave the company a “buy” rating in a research note on Thursday, September 15th. TheStreet lowered Trevena from a “hold” rating to a “sell” rating in a report on Friday, June 17th. Zacks Investment Research lowered Trevena from a “hold” rating to a “sell” rating in a report on Tuesday, July 12th. Jefferies Group reiterated a “buy” rating on shares of Trevena in a report on Friday, August 5th. Finally, Cowen and Company reiterated a “buy” rating and issued a $13.00 price target on shares of Trevena in a report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus 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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