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What Do Hedge Funds Think of Trevena Inc (TRVN)?

As industrywide interest jumped, key hedge funds have jumped into Trevena Inc (NASDAQ:TRVN) headfirst. Baker Bros. Advisors, managed by Julian Baker and Felix Baker, initiated the largest position in Trevena Inc (NASDAQ:TRVN). Baker Bros. Advisors had $4.7 million invested in the company at the end of the quarter. Brad Farber’s Atika Capital also initiated a $1 million position during the quarter. The other funds with brand new TRVN positions are John Overdeck and David Siegel’s Two Sigma Advisors, Mike Vranos’ Ellington, and John Zaro’s Bourgeon Capital.

Let’s go over hedge fund activity in other stocks similar to Trevena Inc (NASDAQ:TRVN). We will take a look at Sabine Royalty Trust (NYSE:SBR), Neuroderm Ltd (NASDAQ:NDRM), Douglas Dynamics Inc (NYSE:PLOW), and Re/Max Holdings Inc (NYSE:RMAX). All of these stocks’ market caps are similar to TRVN’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
SBR 5 9749 0
NDRM 12 128739 6
PLOW 16 28125 4
RMAX 5 10176 -5

As you can see these stocks had an average of 9.5 hedge funds with bullish positions and the average amount invested in these stocks was $44 million. That figure was $80 million in TRVN’s case. Douglas Dynamics Inc (NYSE:PLOW) is the most popular stock in this table. On the other hand Sabine Royalty Trust (NYSE:SBR) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks Trevena Inc (NASDAQ:TRVN) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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