Trevena, Inc. (NASDAQ:TRVN) Short Interest Down 72.8% in July

Trevena, Inc. (NASDAQ:TRVN) saw a significant decline in short interest in July. As of July 15th, there was short interest totalling 53,700 shares, a decline of 72.8% from the June 30th total of 197,300 shares. Based on an average daily volume of 923,200 shares, the short-interest ratio is presently 0.1 days. Currently, 0.3% of the company’s stock are short sold.

Analyst Ratings Changes

Several analysts recently issued reports on the company. HC Wainwright dropped their target price on Trevena from $9.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. StockNews.com assumed coverage on Trevena in a report on Friday, July 19th. They set a “sell” rating on the stock.

Trevena Price Performance

NASDAQ TRVN traded down $0.01 during trading on Friday, reaching $0.22. 76,711 shares of the company’s stock were exchanged, compared to its average volume of 517,678. The business has a 50 day moving average price of $0.31 and a 200-day moving average price of $0.45. The stock has a market capitalization of $4.09 million, a P/E ratio of -0.09 and a beta of 1.05. Trevena has a fifty-two week low of $0.19 and a fifty-two week high of $1.12.

Trevena (NASDAQ:TRVN) last announced its quarterly earnings results on Wednesday, May 15th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.01. The business had revenue of $0.02 million for the quarter. On average, analysts forecast that Trevena will post -1.29 earnings per share for the current year.

Hedge Funds Weigh In On Trevena

A hedge fund recently bought a new stake in Trevena stock. Armistice Capital LLC bought a new stake in Trevena, Inc. (NASDAQ:TRVN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 797,714 shares of the biopharmaceutical company’s stock, valued at approximately $576,000. Armistice Capital LLC owned about 4.61% of Trevena at the end of the most recent quarter. 13.56% of the stock is owned by hedge funds and other institutional investors.

About Trevena

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.