Trevena Inc (NASDAQ:TRVN)’s share price fell 10.1% during trading on Thursday . The stock traded as low as $1.72 and last traded at $2.07. 1,176,861 shares changed hands during trading, an increase of 25% from the average session volume of 941,268 shares. The stock had previously closed at $1.88.
Several research firms have commented on TRVN. HC Wainwright lifted their target price on shares of Trevena to $7.00 and gave the stock a “buy” rating in a research report on Thursday. Oppenheimer reissued a “buy” rating and set a $5.00 target price on shares of Trevena in a research report on Monday, November 13th. Finally, Zacks Investment Research cut shares of Trevena from a “buy” rating to a “hold” rating and set a $2.00 target price on the stock. in a research report on Saturday, January 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Trevena has a consensus rating of “Buy” and an average price target of $7.17.
The company has a debt-to-equity ratio of 0.45, a current ratio of 3.71 and a quick ratio of 4.92. The company has a market cap of $118.57, a PE ratio of -1.62 and a beta of -0.61.
Large investors have recently bought and sold shares of the stock. Nationwide Fund Advisors raised its holdings 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 worth $113,000 after purchasing an additional 23,557 shares during the period. Alliancebernstein L.P. raised its holdings 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 worth $127,000 after purchasing an additional 18,900 shares during the period. Millennium Management LLC bought a new stake in shares of Trevena in the 4th quarter worth approximately $130,000. American Century Companies Inc. bought a new stake in shares of Trevena in the 4th quarter worth approximately $135,000. Finally, Bourgeon Capital Management LLC raised its holdings in shares of Trevena by 59.3% in the 4th quarter. Bourgeon Capital Management LLC now owns 137,800 shares of the biopharmaceutical company’s stock worth $220,000 after purchasing an additional 51,300 shares during the period. 52.50% of the stock is currently owned by institutional investors.
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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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