Trevena (NASDAQ:TRVN) Shares Pass Above 50 Day Moving Average of $0.74

Trevena, Inc. (NASDAQ:TRVNGet Rating)’s stock price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $0.74 and traded as high as $3.89. Trevena shares last traded at $3.61, with a volume of 39,712 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have commented on TRVN. StockNews.com began coverage on Trevena in a report on Wednesday. They set a “sell” rating on the stock. HC Wainwright decreased their price target on Trevena to $1.50 in a report on Monday, August 15th.

Trevena Trading Down 3.5 %

The company has a quick ratio of 4.51, a current ratio of 4.60 and a debt-to-equity ratio of 0.61. The stock has a fifty day simple moving average of $0.74 and a 200 day simple moving average of $0.45. The firm has a market capitalization of $25.08 million, a P/E ratio of -0.40 and a beta of 1.86.

Institutional Investors Weigh In On Trevena

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GSA Capital Partners LLP bought a new stake in shares of Trevena in the first quarter worth about $471,000. Millennium Management LLC bought a new stake in shares of Trevena in the second quarter worth about $808,000. Renaissance Technologies LLC increased 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 purchasing an additional 685,800 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Trevena by 10,526.3% in the first quarter. Captrust Financial Advisors now owns 201,900 shares of the biopharmaceutical company’s stock worth $111,000 after purchasing an additional 200,000 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Trevena in the second quarter worth about $70,000. 12.34% of the stock is owned by institutional investors.

About Trevena

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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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