Trevena, Inc. (NASDAQ:TRVN) Sees Large Decline in Short Interest

Trevena, Inc. (NASDAQ:TRVN) was the target of a large decline in short interest in April. As of April 15th, there was short interest totalling 58,900 shares, a decline of 47.8% from the March 31st total of 112,800 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 203,300 shares, the days-to-cover ratio is currently 0.3 days.

Trevena Trading Down 4.4 %

Shares of TRVN opened at $0.39 on Friday. The stock has a fifty day moving average price of $0.48 and a two-hundred day moving average price of $0.57. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 8.35. Trevena has a 52-week low of $0.30 and a 52-week high of $3.28.

Trevena (NASDAQ:TRVN) last issued its quarterly earnings data on Monday, April 1st. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter. The business had revenue of ($0.08) million during the quarter, compared to analysts’ expectations of $0.09 million. As a group, equities research analysts forecast that Trevena will post -1.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TRVN shares. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price target on shares of Trevena in a research note on Tuesday, April 2nd. StockNews.com started coverage on Trevena in a research note on Monday, April 22nd. They issued a “sell” rating on the stock.

Hedge Funds Weigh In On Trevena

A hedge fund recently bought a new stake in Trevena stock. Armistice Capital LLC acquired a new stake in Trevena, Inc. (NASDAQ:TRVN) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 797,714 shares of the biopharmaceutical company’s stock, valued at approximately $576,000. Armistice Capital LLC owned about 4.61% of Trevena as of its most recent filing with the SEC. Hedge funds and other institutional investors own 13.56% of the company’s stock.

About Trevena

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.