Short Interest in Tevogen Bio Holdings Inc. (NASDAQ:TVGN) Grows By 28.6%

Tevogen Bio Holdings Inc. (NASDAQ:TVGN - Get Free Report) was the recipient of a large growth in short interest during the month of August. As of August 15th, there was short interest totalling 648,700 shares, a growth of 28.6% from the July 31st total of 504,300 shares. Based on an average daily trading volume, of 283,100 shares, the days-to-cover ratio is presently 2.3 days. Approximately 3.4% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Fundamental Research set a $4.20 price target on Tevogen Bio and gave the stock a "buy" rating in a research report on Friday, June 28th.

Tevogen Bio Price Performance

TVGN stock traded up $0.02 on Friday, hitting $0.52. The company's stock had a trading volume of 97,588 shares, compared to its average volume of 512,545. Tevogen Bio has a 1 year low of $0.42 and a 1 year high of $21.09. The firm's 50 day simple moving average is $0.66.

Institutional Investors Weigh In On Tevogen Bio

An institutional investor recently bought a new position in Tevogen Bio stock. Portland Global Advisors LLC acquired a new stake in shares of Tevogen Bio Holdings Inc. (NASDAQ:TVGN - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,782,209 shares of the company's stock, valued at approximately $21,683,000. Tevogen Bio comprises 3.0% of Portland Global Advisors LLC's portfolio, making the stock its 9th largest holding. Portland Global Advisors LLC owned approximately 36.55% of Tevogen Bio as of its most recent SEC filing.

About Tevogen Bio

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.