Trevena (NASDAQ:TRVN) Shares Pass Below 200-Day Moving Average of $8.53

Trevena, Inc. (NASDAQ:TRVN) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.53 and traded as low as $6.05. Trevena shares last traded at $6.70, with a volume of 58,341 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Trevena in a research report on Friday. They issued a “sell” rating for the company.

Trevena Stock Performance

The firm has a market capitalization of $5.06 million, a PE ratio of -2.22 and a beta of 1.03. The stock has a fifty day moving average price of $5.05 and a 200-day moving average price of $8.46.

Trevena (NASDAQ:TRVN) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($9.25) by $9.02. The company had revenue of $0.33 million for the quarter. Research analysts expect that Trevena, Inc. will post -32.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trevena

A hedge fund recently bought a new stake in Trevena stock. Armistice Capital LLC purchased a new position in shares of Trevena, Inc. (NASDAQ:TRVN) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 797,714 shares of the biopharmaceutical company’s stock, valued at approximately $576,000. Armistice Capital LLC owned approximately 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.