Trevena (NASDAQ:TRVN) Shares Set to Reverse Split on Tuesday, August 13th

Shares of Trevena, Inc. (NASDAQ:TRVN) are scheduled to reverse split before the market opens on Tuesday, August 13th. The 1-25 reverse split was announced on Thursday, August 8th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, August 12th.

Trevena Trading Down 13.2 %

TRVN traded down $0.03 during trading hours on Friday, hitting $0.20. 604,154 shares of the company’s stock were exchanged, compared to its average volume of 508,104. Trevena has a 12-month low of $0.17 and a 12-month high of $1.12. The firm has a market cap of $3.66 million, a P/E ratio of -0.07 and a beta of 1.05. The firm has a 50 day moving average of $0.27 and a 200 day moving average of $0.41.

Trevena (NASDAQ:TRVN) last released its earnings results on Wednesday, May 15th. The biopharmaceutical company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.01. The company had revenue of $0.02 million for the quarter. As a group, research analysts expect that Trevena will post -1.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. HC Wainwright cut their target price on Trevena from $9.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, May 16th. StockNews.com began coverage on Trevena in a research report on Sunday, August 4th. They set a “sell” rating on the stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Trevena stock. Armistice Capital LLC bought a new position in shares of Trevena, Inc. (NASDAQ:TRVN) in the 4th quarter, according to the company in its most recent filing 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 4.61% of Trevena as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 13.56% of the company’s stock.

Trevena Company Profile

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.