Trevena (NASDAQ:TRVN) has shown a drop of 26.8% or 460,381 shares in the short positions. The bets have increased to 1,255,228 shares on June 15,2016 from 1,715,609 shares on May 31,2016. With respect to the floated shares, the shorts are 3.7%. The days to cover are calculated to be 3, using the standard per day volume of 444,975 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Trevena (NASDAQ:TRVN): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $6.79 and $6.21 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $6.79. The buying momentum continued till the end and the stock did not give up its gains. It closed at $6.39, notching a gain of 2.90% for the day. The total traded volume was 2,680,761 . The stock had closed at $6.21 on the previous day.
The company shares have rallied 9.42% from its 1 Year high price. On Sep 18, 2015, the shares registered one year high at $13.57 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $6.98 and the 200 Day Moving Average price is recorded at $8.16.
Stocks of Trevena (NASDAQ:TRVN) rallied by 1.59% during the past week but lost 9.49% on a 4-week basis. The company has outperformed the S&P 500 by 3.28% in the past week but underperformed the index by 6.75% in the last 4 weeks.
Trevena Inc. (Trevena) 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: TRV130, a small molecule G protein biased ligand at the mu-opioid receptor to treat patients experiencing moderate to severe acute pain where IV administration is preferred; TRV734, a small molecule G protein biased ligand at the mu-opioid receptor to treat moderate to severe acute and chronic pain, and TRV027, a peptide b-arrestin biased ligand that targets the angiotensin II type 1 receptor (AT1R), inhibiting G protein signaling and activating b-arrestin signaling. The Company has also identified a new product candidate, TRV250, a small molecule G protein biased ligand of the delta-opioid receptor program focused on central nervous system (CNS).