Tevogen Bio (NASDAQ:TVGN) Shares Down 10.1% – Here’s Why

Tevogen Bio Holdings Inc. (NASDAQ:TVGN)’s stock price fell 10.1% on Monday . The company traded as low as $6.28 and last traded at $6.29. Approximately 64,932 shares changed hands during trading, an increase of 157% from the average session volume of 25,297 shares. The stock had previously closed at $7.00.

Analyst Upgrades and Downgrades

TVGN has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Tevogen Bio in a research note on Monday, April 20th. Wall Street Zen lowered shares of Tevogen Bio to a “strong sell” rating in a research note on Saturday, March 21st. Finally, D. Boral Capital cut shares of Tevogen Bio from a “buy” rating to a “hold” rating in a report on Wednesday, March 4th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $100.00.

Tevogen Bio Stock Performance

The firm has a 50 day simple moving average of $8.67 and a 200 day simple moving average of $11.26. The firm has a market cap of $26.36 million, a P/E ratio of -1.36 and a beta of 0.14.

Tevogen Bio (NASDAQ:TVGN) last announced its quarterly earnings results on Friday, May 15th. The company reported ($1.61) earnings per share for the quarter, beating the consensus estimate of ($2.64) by $1.03.

Hedge Funds Weigh In On Tevogen Bio

Several hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its holdings in Tevogen Bio by 126.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 273,694 shares of the company’s stock worth $91,000 after acquiring an additional 152,572 shares during the period. Deutsche Bank AG boosted its holdings in Tevogen Bio by 304.1% in the 4th quarter. Deutsche Bank AG now owns 173,734 shares of the company’s stock valued at $57,000 after purchasing an additional 130,738 shares during the period. Finally, Bridgeway Capital Management LLC grew its position in shares of Tevogen Bio by 66.7% during the 3rd quarter. Bridgeway Capital Management LLC now owns 82,500 shares of the company’s stock valued at $65,000 after purchasing an additional 33,000 shares in the last quarter.

Tevogen Bio Company Profile

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.