Trevena, Inc. (NASDAQ:TRVN) Short Interest Update

Trevena, Inc. (NASDAQ:TRVN) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 20,100 shares, an increase of 24.1% from the August 15th total of 16,200 shares. Approximately 2.4% of the company’s stock are sold short. Based on an average daily trading volume, of 57,700 shares, the days-to-cover ratio is currently 0.3 days.

Analyst Upgrades and Downgrades

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

Trevena Trading Down 25.2 %

Shares of TRVN stock opened at $4.45 on Tuesday. Trevena has a 12-month low of $3.35 and a 12-month high of $25.75. The business’s fifty day simple moving average is $2.36 and its 200-day simple moving average is $1.09. The company has a market cap of $81.62 million, a PE ratio of -1.66 and a beta of 1.03.

Trevena (NASDAQ:TRVN) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.36. The business had revenue of $0.33 million for the quarter. On average, equities analysts forecast that Trevena will post -32.25 earnings per share for the current year.

Hedge Funds Weigh In On Trevena

An institutional investor recently bought a new position in Trevena stock. Armistice Capital LLC purchased a new position in Trevena, Inc. (NASDAQ:TRVN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 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. Institutional investors and hedge funds 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.