Tevogen Bio (NASDAQ:TVGN) Shares Down 6.6% – Here’s Why

Tevogen Bio Holdings Inc. (NASDAQ:TVGN)’s share price was down 6.6% during trading on Wednesday . The company traded as low as $0.61 and last traded at $0.63. Approximately 697,025 shares changed hands during trading, an increase of 36% from the average daily volume of 512,195 shares. The stock had previously closed at $0.67.

Analysts Set New Price Targets

A number of equities analysts recently commented on TVGN shares. Weiss Ratings restated a “sell (e+)” rating on shares of Tevogen Bio in a report on Wednesday, October 8th. D. Boral Capital restated a “buy” rating and issued a $10.00 price objective on shares of Tevogen Bio in a report on Thursday, September 4th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.00.

Tevogen Bio Stock Down 6.6%

The business has a fifty day simple moving average of $0.82 and a 200-day simple moving average of $1.02. The firm has a market cap of $123.77 million, a P/E ratio of -3.31 and a beta of -0.83.

Tevogen Bio (NASDAQ:TVGN) last posted its quarterly earnings data on Tuesday, August 19th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02.

Hedge Funds Weigh In On Tevogen Bio

An institutional investor recently bought a new position in Tevogen Bio stock. Nuveen LLC bought a new stake in shares of Tevogen Bio Holdings Inc. (NASDAQ:TVGN) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 90,253 shares of the company’s stock, valued at approximately $97,000.

Tevogen Bio Company Profile

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.