Tevogen Bio (NASDAQ:TVGN) Trading Down 1.8% – Time to Sell?

Tevogen Bio Holdings Inc. (NASDAQ:TVGN)’s share price fell 1.8% during trading on Thursday . The stock traded as low as $0.4167 and last traded at $0.43. 771,926 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 1,336,507 shares. The stock had previously closed at $0.4378.

Analyst Ratings Changes

Several equities analysts recently weighed in on TVGN shares. D. Boral Capital reduced their target price on Tevogen Bio from $10.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of Tevogen Bio in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Tevogen Bio has an average rating of “Hold” and a consensus price target of $5.00.

Tevogen Bio Trading Down 1.8%

The firm has a market capitalization of $85.44 million, a price-to-earnings ratio of -2.26 and a beta of -0.83. The firm has a 50 day moving average price of $0.55 and a two-hundred day moving average price of $0.88.

Tevogen Bio (NASDAQ:TVGN) last posted its earnings results on Friday, November 14th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03.

Hedge Funds Weigh In On Tevogen Bio

An institutional investor recently raised its position in Tevogen Bio stock. Bridgeway Capital Management LLC raised its stake in Tevogen Bio Holdings Inc. (NASDAQ:TVGN) by 66.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,500 shares of the company’s stock after purchasing an additional 33,000 shares during the quarter. Bridgeway Capital Management LLC’s holdings in Tevogen Bio were worth $65,000 at the end of the most recent quarter.

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.