Todays Report: The Bank of New York Mellon Corp reached $1,103,000 position of Trevena Inc. (TRVN)

The Bank of New York Mellon Corp reached $1,103,000 position  of Trevena Inc. (TRVN)

Bank of New York Mellon Corp lowered its stake in shares of Trevena Inc. (NASDAQ:TRVN) by 27.7% during the second quarter, Holdings Channel reports. The firm owned 175,205 shares of the biopharmaceutical company’s stock after selling 67,100 shares during the period. Bank of New York Mellon Corp owned 0.34% of Trevena worth $1,103,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. National Planning Corp increased its position in Trevena by 21.9% in the first quarter. National Planning Corp now owns 19,452 shares of the biopharmaceutical company’s stock valued at $151,000 after buying an additional 3,500 shares during the period. Alps Advisors Inc. increased its position in shares of Trevena by 28.3% in the second quarter. Alps Advisors Inc. now owns 73,294 shares of the biopharmaceutical company’s stock valued at $462,000 after buying an additional 16,169 shares during the last quarter. First Manhattan Co. acquired a new position in shares of Trevena during the second quarter valued at approximately $729,000. Northpointe Capital LLC increased its position in shares of Trevena by 92.6% in the second quarter. Northpointe Capital LLC now owns 379,186 shares of the biopharmaceutical company’s stock valued at $2,389,000 after buying an additional 182,261 shares during the last quarter. Finally, Vivo Capital LLC acquired a new position in shares of Trevena during the first quarter valued at approximately $9,924,000. Institutional investors own 75.43% of the company’s stock.

Shares of Trevena Inc. (NASDAQ:TRVN) traded up 0.16% during midday trading on Friday, reaching $6.20. The company’s stock had a trading volume of 129,528 shares. The stock’s market capitalization is $323.50 million. Trevena Inc. has a 52 week low of $5.58 and a 52 week high of $13.02. The company has a 50 day moving average price of $6.80 and a 200-day moving average price of $7.16.

Trevena (NASDAQ:TRVN) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.36) by $0.01. Trevena had a negative return on equity of 45.01% and a negative net margin of 841.00%. On average, equities research analysts expect that Trevena Inc. will post ($1.55) EPS for the current year.

Several brokerages have recently commented on TRVN. Zacks Investment Research downgraded Trevena from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Jefferies Group restated a “buy” rating on shares of Trevena in a research report on Friday, August 5th. Brean Capital set a $14.00 price objective on Trevena and gave the company a “buy” rating in a research report on Thursday, September 15th. FBR & Co restated a “buy” rating and issued a $13.00 price objective on shares of Trevena in a research report on Thursday, August 4th. Finally, Cowen and Company restated a “buy” rating and issued a $13.00 price objective on shares of Trevena in a research report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $14.30.

About Trevena

Trevena Inc is a clinical-stage biopharmaceutical company. The Company discovers, develops and intends to commercialize therapeutics that use an approach to target G protein coupled receptors (GPCRs). Using its product platform, the Company has identified and advanced three differentiated product candidates: Oliceridine (TRV130), TRV027 and TRV250.

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