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

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

Analyst Ratings Changes

A number of research analysts have commented on TVGN shares. D. Boral Capital cut shares of Tevogen Bio from a “buy” rating to a “hold” rating in a research report on Wednesday, March 4th. Wall Street Zen lowered shares of Tevogen Bio to a “strong sell” rating in a report on Saturday, March 21st. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tevogen Bio in a research note on Monday, April 20th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $100.00.

Tevogen Bio Trading Up 1.4%

The company has a market capitalization of $24.05 million, a PE ratio of -1.25 and a beta of 0.14. The firm has a fifty day moving average of $8.64 and a two-hundred day moving average of $11.15.

Tevogen Bio (NASDAQ:TVGN) last announced its quarterly earnings results on Friday, May 15th. The company reported ($1.61) EPS for the quarter, topping analysts’ consensus estimates of ($2.64) by $1.03.

Institutional Investors Weigh In On Tevogen Bio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bridgeway Capital Management LLC increased its position in shares of Tevogen Bio by 66.7% in the third quarter. Bridgeway Capital Management LLC now owns 82,500 shares of the company’s stock valued at $65,000 after acquiring an additional 33,000 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Tevogen Bio by 126.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 273,694 shares of the company’s stock worth $91,000 after purchasing an additional 152,572 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in Tevogen Bio by 304.1% during 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.

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.