Trevena Inc. (NASDAQ: TRVN) Loses -2.93% From High. Why That Could Change?


Renaissance Technologies LLC recently announced the acquisition of new stake in Trevena Inc. (NASDAQ:TRVN). The institutional investor has increased its shareholding in the Healthcare company by 8.54% to 2.52 million shares with purchase of 0.2 million shares. This fresh investment now brings its stake to 2.35% valued currently at $3.78 million. In addition, TFI PZU SA raised its holdings by 0.66 million to 0.9 million shares. And Winton Capital Management Ltd. has lifted its position by 13.09% or 69691.0 shares – to 0.6 million shares.

With over 6.73 million Trevena Inc. (TRVN) shares trading Friday and a closing price of $2.32 on the day, the dollar volume was approximately $15.6 million. The shares have shown a positive weekly performance of 17.17% and its price on 07/31/20 gained nearly 4.04%. Currently, there are 107.18M common shares owned by the public and among those 105.79M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for TRVN have a consensus price objective of $4.00. The analysts have set the share’s price value over the next 12 months at a high of $4.00 and a low of $4.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Trevena Inc. stock is 2.00 for the next 12 months. But an upside of 42.0% will see the stock hit the forecast high price target while mean target price for the stock is $4.00.

Insiders at the company have transacted a total of 9 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 5 of these insider trades were purchases, accounting for 1,481,000 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 57,199 shares.

The top 3 mutual fund holders in Trevena Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and PZU FIO Parasolowy – Medyczny. Vanguard Total Stock Market Index owns 2.66 million shares of the company’s stock, all valued at over $3.98 million. PZU FIO Parasolowy – Medyczny bought 0.66 million shares to bring its total holdings to over 0.9 million shares at a value of $1.35 million. PZU FIO Parasolowy – Medyczny now owns shares totaling to 0.84% of the shares outstanding.

Shares of Trevena Inc. (NASDAQ: TRVN) opened at $2.25, up $0.02 from a prior closing price of $2.23. However, the script later closed the day at $2.32, up 4.04%. The company’s stock has a 5-day price change of 17.17% and 215.65% over the past three months. TRVN shares are trading 175.89% year to date (YTD), with the 12-month market performance up to 152.17% higher. It has a 12-month low price of $0.46 and touched a high of $2.39 over the same period. Currently, 6.73 million shares have been traded, compared to an average intraday trading volume of 3.54 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 24.26%, 44.69%, and 136.22% respectively.

Institutional ownership of Trevena Inc. (NASDAQ: TRVN) shares accounts for 19.00% of the company’s 107.18M shares outstanding. Mutual fund holders own 6.50%, while other institutional holders and individual stakeholders account for 7.05% and 20.00% respectively.

It has a market capitalization of $242.42M and a beta (3y monthly) value of 2.81. The earnings-per-share (ttm) stands at -$0.27. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.11% over the week and 9.30% over the month.

Analysts forecast that Trevena Inc. (TRVN) will achieve an EPS of -$0.06 for the current quarter, -$0.06 for the next quarter and -$0.21 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.07 while analysts give the company a high EPS estimate of -$0.06. Comparatively, EPS for the current quarter was -$0.05 a year ago. Earnings per share for the fiscal year are expected to increase by 35.20%, and 19.20% over the next financial year.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Trevena Inc. (TRVN) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the TRVN, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on May 31, 2019, with the firm’s price target at . H.C. Wainwright coverage for the Trevena Inc. (TRVN) stock in a research note released on November 05, 2018 offered a Neutral rating with a price target of . Needham was of a view on October 12, 2018 that the stock is Hold, while Jefferies gave the stock Hold rating on October 10, 2018, issuing a price target of . Needham on their part issued Buy rating on November 08, 2017.


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