Tevogen Bio (NASDAQ:TVGN) Shares Down 6.4% – Here’s What Happened

Shares of Tevogen Bio Holdings Inc. (NASDAQ:TVGN) traded down 6.4% on Wednesday . The company traded as low as $0.3084 and last traded at $0.3172. 486,137 shares were traded during trading, a decline of 8% from the average session volume of 529,920 shares. The stock had previously closed at $0.3390.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tevogen Bio in a report on Wednesday, January 21st. D. Boral Capital lowered their price objective 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. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s 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 Price Performance

The business’s 50 day simple moving average is $0.38 and its 200 day simple moving average is $0.67. The stock has a market cap of $63.02 million, a P/E ratio of -1.67 and a beta of -0.79.

Tevogen Bio (NASDAQ:TVGN) last issued 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.

Institutional Inflows and Outflows

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

About Tevogen Bio

Tevogen Bio plc (NASDAQ:TVGN) is a clinical-stage biotechnology company focused on developing personalized natural killer (NK) cell immunotherapies for oncology and severe viral diseases. Leveraging proprietary induced pluripotent stem cell (iPSC) and donor-derived NK cell platforms, Tevogen Bio aims to create off-the-shelf cell therapy products that offer scalable and cost-efficient treatment options. The company’s lead candidate, TVGN-484, is an allogeneic NK cell therapy in clinical trials for relapsed or refractory acute myeloid leukemia (AML).

In addition to its lead program in AML, Tevogen Bio’s pipeline includes preclinical NK cell candidates directed against hematological malignancies, solid tumors and viral infections.