Trevena, Inc. (NASDAQ:TRVN) Short Interest Up 21.3% in April

Trevena, Inc. (NASDAQ:TRVNGet Rating) saw a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 5,590,000 shares, a growth of 21.3% from the March 31st total of 4,610,000 shares. Approximately 3.5% of the company’s stock are sold short. Based on an average trading volume of 1,010,000 shares, the short-interest ratio is presently 5.5 days.

Several hedge funds have recently bought and sold shares of the company. Morgan Stanley raised its holdings in shares of Trevena by 11.1% in the 2nd quarter. Morgan Stanley now owns 418,553 shares of the biopharmaceutical company’s stock valued at $708,000 after buying an additional 41,746 shares during the period. Bank of America Corp DE lifted its stake in Trevena by 48.1% in the second quarter. Bank of America Corp DE now owns 34,607 shares of the biopharmaceutical company’s stock valued at $59,000 after buying an additional 11,243 shares during the last quarter. Invesco Ltd. purchased a new position in shares of Trevena during the second quarter worth about $73,000. SG Americas Securities LLC acquired a new stake in shares of Trevena in the 3rd quarter worth $103,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Trevena during the 3rd quarter valued at approximately $194,000. Institutional investors and hedge funds own 21.20% of the company’s stock.

NASDAQ:TRVN opened at $0.29 on Tuesday. Trevena has a 12 month low of $0.28 and a 12 month high of $2.20. The business’s 50-day moving average is $0.43 and its 200 day moving average is $0.61.

Trevena (NASDAQ:TRVNGet Rating) last released its quarterly earnings results on Thursday, March 31st. The biopharmaceutical company reported ($0.08) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.01. Trevena had a negative return on equity of 62.36% and a negative net margin of 7,771.74%. During the same period last year, the business posted ($0.08) earnings per share. On average, equities research analysts anticipate that Trevena will post -0.37 EPS for the current year.

Several equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Trevena from a “sell” rating to a “hold” rating in a report on Wednesday, February 2nd. started coverage on shares of Trevena in a research note on Friday. They issued a “sell” rating on the stock.

Trevena Company Profile (Get Rating)

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; TRV027 for the treatment of acute lung injury contributing to acute respiratory distress syndrome and abnormal blood clotting in patients with COVID-19; 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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