Trevena, Inc. (TRVN) Trading Down NaN After Analyst Downgrade

Trevena, Inc. (NASDAQ:TRVN)’s share price traded down NaN during mid-day trading on Friday after HC Wainwright lowered their price target on the stock from $8.00 to $7.00. HC Wainwright currently has a buy rating on the stock. Trevena traded as low as $1.84 and last traded at $0.00. 3,933,700 shares were traded during trading, an increase of Infinity from the average session volume of 0 shares.

Several other research firms have also issued reports on TRVN. Zacks Investment Research lowered Trevena from a “hold” rating to a “sell” rating in a research report on Wednesday, July 26th. Cowen and Company restated a “buy” rating and set a $10.00 price target on shares of Trevena in a research report on Friday, August 4th. Finally, Oppenheimer Holdings, Inc. set a $8.00 price objective on Trevena and gave the stock a “buy” rating in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company. Trevena has an average rating of “Buy” and an average price target of $10.23.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRVN. American International Group Inc. lifted its stake in shares of Trevena by 7.1% in the 1st quarter. American International Group Inc. now owns 27,541 shares of the biopharmaceutical company’s stock valued at $101,000 after purchasing an additional 1,816 shares during the period. Nationwide Fund Advisors lifted its stake in shares of Trevena by 92.1% in the 2nd quarter. Nationwide Fund Advisors now owns 49,132 shares of the biopharmaceutical company’s stock valued at $113,000 after purchasing an additional 23,557 shares during the period. Bourgeon Capital Management LLC lifted its stake in shares of Trevena by 56.8% in the 2nd quarter. Bourgeon Capital Management LLC now owns 53,031 shares of the biopharmaceutical company’s stock valued at $122,000 after purchasing an additional 19,200 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Trevena by 51.9% in the 2nd quarter. Alliancebernstein L.P. now owns 55,300 shares of the biopharmaceutical company’s stock valued at $127,000 after purchasing an additional 18,900 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Trevena by 81.0% in the 1st quarter. SG Americas Securities LLC now owns 35,926 shares of the biopharmaceutical company’s stock valued at $132,000 after purchasing an additional 16,079 shares during the period. Institutional investors own 60.09% of the company’s stock.

Trevena (NASDAQ:TRVN) last announced its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.35).

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About Trevena

Trevena Inc is a biopharmaceutical company, which is engaged in developing various therapies. The Company is developing OLINVO, a u-receptor G protein pathway selective modulator (u-GPS) for the management of moderate-to-severe acute pain where intravenous (IV) administration is preferred. It is focused on commercializing it in the United States for use in acute care settings, such as hospitals and ambulatory surgery centers.

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