Begins Coverage on Trevena (NASDAQ:TRVN) assumed coverage on shares of Trevena (NASDAQ:TRVNGet Rating) in a research note released on Tuesday morning. The firm issued a sell rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright decreased their price objective on shares of Trevena to $1.50 in a research note on Monday, August 15th.

Trevena Price Performance

Shares of TRVN opened at $0.18 on Tuesday. The business’s 50 day simple moving average is $0.23 and its 200-day simple moving average is $0.33. Trevena has a one year low of $0.17 and a one year high of $1.33. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.87 and a quick ratio of 5.55. The company has a market capitalization of $30.46 million, a P/E ratio of -0.50 and a beta of 1.77.

Trevena (NASDAQ:TRVNGet Rating) last released its quarterly earnings data on Thursday, August 11th. The biopharmaceutical company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. As a group, sell-side analysts predict that Trevena will post -0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new stake in Trevena during the 2nd quarter valued at $25,000. Millennium Management LLC purchased a new position in shares of Trevena in the second quarter worth approximately $808,000. Virtu Financial LLC purchased a new position in Trevena during the second quarter valued at approximately $70,000. Renaissance Technologies LLC lifted its holdings in shares of Trevena by 222.4% in the second quarter. Renaissance Technologies LLC now owns 994,200 shares of the biopharmaceutical company’s stock worth $412,000 after buying an additional 685,800 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in shares of Trevena in the second quarter worth $51,000. 12.34% of the stock is currently owned by hedge funds and other institutional investors.

Trevena Company Profile

(Get Rating)

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; TRV027 for the treatment of acute lung injury contributing to acute respiratory distress syndrome and abnormal blood clotting in patients with COVID-19; 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.

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