Tevogen Bio (NASDAQ:TVGN) Trading Down 1.8% – Here’s Why

Tevogen Bio Holdings Inc. (NASDAQ:TVGN) shares dropped 1.8% during trading on Thursday . The company traded as low as $0.4167 and last traded at $0.43. Approximately 771,926 shares changed hands during trading, a decline of 42% from the average daily volume of 1,336,507 shares. The stock had previously closed at $0.4378.

Analyst Upgrades and Downgrades

TVGN has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Tevogen Bio in a research report on Wednesday, October 8th. D. Boral Capital cut their price target on Tevogen Bio from $10.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, November 20th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Tevogen Bio has a consensus rating of “Hold” and an average price target of $5.00.

Tevogen Bio Stock Down 6.2%

The stock has a market cap of $80.17 million, a price-to-earnings ratio of -2.12 and a beta of -0.83. The company’s 50-day moving average is $0.54 and its 200-day moving average is $0.87.

Tevogen Bio (NASDAQ:TVGN) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.03.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Tevogen Bio stock. Nuveen LLC bought a new stake in Tevogen Bio Holdings Inc. (NASDAQ:TVGN) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 90,253 shares of the company’s stock, valued at approximately $97,000.

About Tevogen Bio

Tevogen Bio Holdings Inc operates as a clinical-stage specialty immunotherapy company that develops off-the-shelf precision T cell therapies for the treatment of infectious diseases, cancers, and neurological disorders. The company develops TVGN 489, which has completed Phase 1 clinical trial for the treatment and prevention of chronic lingering symptoms of the disease (Long COVID), as well as COVID-19 in B cell immune suppressed acute COVID-19 patients without a B cell cancer indication, elderly and infirm acute COVID-19 patients, and acute COVID-19 in patients on T cell suppressing drugs, including solid organ transplant patients.