BlackRock Inc. trimmed its holdings in shares of Trevena Inc (NASDAQ:TRVN) by 76.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 745,270 shares of the biopharmaceutical company’s stock after selling 2,419,117 shares during the quarter. BlackRock Inc. owned 0.98% of Trevena worth $1,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in TRVN. Northern Trust Corp lifted its position in shares of Trevena by 6.6% in the first quarter. Northern Trust Corp now owns 579,697 shares of the biopharmaceutical company’s stock worth $950,000 after purchasing an additional 35,967 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Trevena by 635.7% in the first quarter. JPMorgan Chase & Co. now owns 89,228 shares of the biopharmaceutical company’s stock worth $146,000 after purchasing an additional 77,100 shares in the last quarter. Millennium Management LLC lifted its position in shares of Trevena by 482.7% in the first quarter. Millennium Management LLC now owns 473,691 shares of the biopharmaceutical company’s stock worth $777,000 after purchasing an additional 392,405 shares in the last quarter. LMR Partners LLP bought a new stake in shares of Trevena in the second quarter worth $207,000. Finally, GSA Capital Partners LLP increased its holdings in Trevena by 186.2% during the second quarter. GSA Capital Partners LLP now owns 351,847 shares of the biopharmaceutical company’s stock worth $507,000 after buying an additional 228,900 shares during the last quarter. Hedge funds and other institutional investors own 42.33% of the company’s stock.

A number of equities analysts recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of Trevena in a report on Monday, August 13th. Zacks Investment Research upgraded shares of Trevena from a “hold” rating to a “buy” rating and set a $1.75 target price on the stock in a report on Friday, August 17th. Jefferies Financial Group downgraded shares of Trevena from a “buy” rating to a “hold” rating and lowered their target price for the stock from $10.00 to $1.00 in a report on Wednesday, October 10th. JMP Securities boosted their target price on shares of Trevena from $4.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, October 12th. Finally, Needham & Company LLC downgraded shares of Trevena from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Trevena presently has an average rating of “Buy” and a consensus target price of $5.42.

Shares of TRVN opened at $0.64 on Friday. The firm has a market cap of $54.96 million, a P/E ratio of -0.53 and a beta of 0.61. Trevena Inc has a 1-year low of $0.55 and a 1-year high of $3.58. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.30 and a current ratio of 4.30.

Trevena (NASDAQ:TRVN) last issued its earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.07. The firm had revenue of $3.00 million for the quarter, compared to analyst estimates of $3.00 million. On average, analysts predict that Trevena Inc will post -0.55 earnings per share for the current year.

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Trevena Profile

Trevena, Inc, a biopharmaceutical company, develops therapies based on breakthrough science to benefit patients and healthcare providers confronting serious medical conditions. Its product candidates include OLINVO injection, a G protein biased ligand of the µ opioid receptor that has completed Phase III clinical trials for the management of moderate-to-severe acute pain where intravenous administration is preferred; TRV250, a G protein biased ligand targeting the d-receptor, which is in Phase I clinical study for the treatment of migraine; and TRV734, a small molecule G protein biased ligand of the µ opioid receptor that has completed Phase I clinical study for the treatment of moderate-to-severe acute and chronic pain, as well as TRV027 for the treatment of acute heart failure.

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Institutional Ownership by Quarter for Trevena (NASDAQ:TRVN)

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