Trevena (NASDAQ:TRVN) Shares Pass Below 200-Day Moving Average of $1.56

Trevena, Inc. (NASDAQ:TRVN) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.56 and traded as low as $1.15. Trevena shares last traded at $1.17, with a volume of 411,771 shares traded.

A number of analysts have recently issued reports on the stock. Oppenheimer reissued a “hold” rating on shares of Trevena in a research note on Friday, October 1st. JMP Securities reissued a “buy” rating and issued a $6.00 price objective on shares of Trevena in a research note on Tuesday, September 7th. Finally, Zacks Investment Research cut shares of Trevena from a “hold” rating to a “sell” rating in a research note on Wednesday, August 18th.

The stock’s 50 day moving average price is $1.26 and its 200-day moving average price is $1.56. The stock has a market capitalization of $192.48 million, a PE ratio of -4.33 and a beta of 2.44.

Trevena (NASDAQ:TRVN) last posted its earnings results on Thursday, August 12th. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.01). The company had revenue of $0.18 million for the quarter, compared to analysts’ expectations of $1.26 million. Trevena had a negative net margin of 1,194.62% and a negative return on equity of 40.89%. Analysts anticipate that Trevena, Inc. will post -0.34 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new position in Trevena during the second quarter valued at $247,000. Morgan Stanley grew its stake in Trevena by 11.1% during the second quarter. Morgan Stanley now owns 418,553 shares of the biopharmaceutical company’s stock valued at $708,000 after acquiring an additional 41,746 shares in the last quarter. Invesco Ltd. purchased a new position in Trevena during the second quarter valued at $73,000. Bank of America Corp DE grew its stake in Trevena by 48.1% during the second quarter. Bank of America Corp DE now owns 34,607 shares of the biopharmaceutical company’s stock valued at $59,000 after acquiring an additional 11,243 shares in the last quarter. Finally, Amalgamated Bank purchased a new position in Trevena during the second quarter valued at $43,000. 21.53% of the stock is owned by institutional investors.

Trevena Company Profile (NASDAQ:TRVN)

Trevena, Inc engages in the development and commercialization of novel medicines for patients affected by central nervous system 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.

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