Trevena (NASDAQ:TRVN) Given Buy Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Trevena (NASDAQ:TRVNFree Report) in a report released on Tuesday, Benzinga reports. They currently have a $9.00 price target on the biopharmaceutical company’s stock.

Separately, StockNews.com initiated coverage on Trevena in a research note on Friday, March 29th. They set a sell rating for the company.

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Trevena Price Performance

NASDAQ:TRVN opened at $0.37 on Tuesday. Trevena has a 12 month low of $0.30 and a 12 month high of $3.28. The stock has a 50 day moving average of $0.56 and a two-hundred day moving average of $0.60. The company has a current ratio of 6.41, a quick ratio of 6.27 and a debt-to-equity ratio of 8.35. The firm has a market cap of $6.80 million, a P/E ratio of -0.13 and a beta of 1.10.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TRVN. Renaissance Technologies LLC boosted its holdings in shares of Trevena by 90.8% during the 1st quarter. Renaissance Technologies LLC now owns 308,400 shares of the biopharmaceutical company’s stock worth $170,000 after purchasing an additional 146,800 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of Trevena by 10,526.3% during the 1st 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. Virtu Financial LLC acquired a new position in shares of Trevena during the 2nd quarter worth approximately $70,000. Millennium Management LLC acquired a new position in shares of Trevena during the 2nd quarter worth approximately $808,000. Finally, Jane Street Group LLC acquired a new position in Trevena in the second quarter valued at approximately $25,000. 13.56% of the stock is currently owned by institutional investors and hedge funds.

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; 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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