Tevogen Bio (NASDAQ:TVGN) Stock Falls 10.7% – Time to Sell?

Tevogen Bio Holdings Inc. (NASDAQ:TVGN) dropped 10.7% on Thursday. The company traded as low as $5.29 and last traded at $5.11. Approximately 3,890 shares traded hands during trading, a decline of 61% from the average daily volume of 9,976 shares. The stock had previously closed at $5.72.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Tevogen Bio in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tevogen Bio presently has a consensus rating of “Reduce” and a consensus price target of $100.00.

Tevogen Bio Trading Up 0.5%

The firm has a market cap of $36.39 million, a PE ratio of -1.21 and a beta of 0.21. The business’s 50-day simple moving average is $6.88 and its 200 day simple moving average is $8.02.

Tevogen Bio (NASDAQ:TVGN) last announced its quarterly earnings results on Friday, August 14th. The company reported ($1.52) earnings per share for the quarter, topping the consensus estimate of ($2.53) by $1.01.

About Tevogen Bio

Tevogen Bio is a clinical-stage biotechnology company focused on developing off-the-shelf T-cell therapies for patients with viral infections, cancer and other serious medical conditions. Its approach is designed to use virus-specific cytotoxic T lymphocytes to target diseased cells while limiting the challenges associated with individualized cell therapies.

The company’s lead program, TVGN 489, is an investigational T-cell therapy intended to address COVID-19 and other conditions caused by SARS-CoV-2, particularly among immunocompromised patients.