Short Interest in Trevena, Inc. (NASDAQ:TRVN) Grows By 341.2%

Trevena, Inc. (NASDAQ:TRVN – Get Rating) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 752,700 shares, an increase of 341.2% from the April 30th total of 170,600 shares. Currently, 7.1% of the shares of the company are short sold. Based on an average trading volume of 2,500,000 shares, the short-interest ratio is currently 0.3 days.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TRVN shares. HC Wainwright reduced their target price on shares of Trevena from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, March 31st. JMP Securities reiterated a “market outperform” rating and issued a $2.00 price target on shares of Trevena in a research note on Friday, March 31st. Finally, StockNews.com initiated coverage on Trevena in a report on Thursday. They issued a “sell” rating on the stock.

Institutional Investors Weigh In On Trevena

Hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC raised its position in Trevena by 51.8% during the 1st quarter. Renaissance Technologies LLC now owns 70,532 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 24,080 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in Trevena in the 4th quarter worth $40,000. Jane Street Group LLC raised its holdings in Trevena by 166.2% in the 1st quarter. Jane Street Group LLC now owns 45,330 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 28,303 shares in the last quarter. Virtu Financial LLC raised its position in shares of Trevena by 72.7% in the 3rd quarter. Virtu Financial LLC now owns 290,480 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 122,242 shares in the last quarter. Finally, Captrust Financial Advisors raised its position in shares of Trevena by 10,526.3% in the 1st quarter. Captrust Financial Advisors now owns 201,900 shares of the biopharmaceutical company’s stock worth $111,000 after acquiring an additional 200,000 shares in the last quarter.

Trevena Stock Up 4.6 %

Shares of TRVN stock traded up $0.05 on Friday, hitting $1.13. 189,084 shares of the stock were exchanged, compared to its average volume of 1,654,519. The firm’s 50 day moving average is $0.91 and its two-hundred day moving average is $1.59. Trevena has a one year low of $0.58 and a one year high of $12.22. The company has a quick ratio of 3.72, a current ratio of 3.84 and a debt-to-equity ratio of 1.33.

Trevena (NASDAQ:TRVN – Get Rating) last announced its earnings results on Monday, May 15th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.85) by $0.04. The company had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.60 million. During the same quarter in the previous year, the firm earned ($2.50) earnings per share. On average, equities analysts expect that Trevena will post -2.9 earnings per share for the current year.

Trevena Company Profile

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Trevena, Inc is a biopharmaceutical company, which focuses on developing and commercializing novel medicines for patients affected by central nervous system, or CNS, disorders. Its product candidates include Oliceridine injection, TRV250, TRV734, and TRV045. The company was founded by Maxine Gowen, Robert Joseph Lefkowitz, Scott DeWire, Howard A.