Trevena (NASDAQ:TRVN) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a report released on Tuesday, Zacks.com reports.
According to Zacks, "Trevena, Inc. is a biopharmaceutical company. It focuses on discovering and developing therapeutics for G protein coupled receptors. The Company's product pipeline includes TRV027, TRV130, TRV734 and Delta opioid biased ligand which are in different clinical phases. Trevena, Inc. is based in King of Prussia, Pennsylvania. "
Shares of NASDAQ:TRVN opened at $2.23 on Tuesday. The stock has a fifty day simple moving average of $2.35 and a two-hundred day simple moving average of $2.39. The stock has a market capitalization of $350.18 million, a price-to-earnings ratio of -9.70 and a beta of 2.59. Trevena has a 12-month low of $0.46 and a 12-month high of $3.68.
A number of large investors have recently made changes to their positions in TRVN. Wedbush Securities Inc. raised its stake in Trevena by 315.3% during the third quarter. Wedbush Securities Inc. now owns 77,817 shares of the biopharmaceutical company's stock valued at $233,000 after buying an additional 59,081 shares during the last quarter. Traynor Capital Management Inc. bought a new stake in shares of Trevena in the 3rd quarter worth $26,000. IFP Advisors Inc increased its holdings in shares of Trevena by 74.4% in the 3rd quarter. IFP Advisors Inc now owns 37,809 shares of the biopharmaceutical company's stock worth $114,000 after purchasing an additional 16,135 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Trevena by 800.0% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 18,000 shares of the biopharmaceutical company's stock worth $54,000 after purchasing an additional 16,000 shares in the last quarter. Finally, Jacobi Capital Management LLC increased its holdings in shares of Trevena by 400.0% in the 3rd quarter. Jacobi Capital Management LLC now owns 25,000 shares of the biopharmaceutical company's stock worth $75,000 after purchasing an additional 20,000 shares in the last quarter. Institutional investors and hedge funds own 11.62% of the company's stock.
Trevena, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel medicines for patients affected by central nervous system disorders. Its product candidates include Oliceridine injection, a G protein biased mu-opioid receptor (MOR) ligand that has completed Phase III clinical trials for the management of moderate-to-severe acute pain where intravenous administration is warranted; TRV250, a G protein biased delta-opioid receptor agonist that has completed Phase I clinical study for the treatment of acute migraine; TRV734, a small molecule G protein biased ligand of the MOR that has completed Phase I clinical study for the treatment of moderate-to-severe acute and chronic pain; TRV027 for the treatment of acute heart failure; and TRV045, a novel S1P modulator for managing chronic pain.
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