Tevogen Bio Holdings Inc. (NASDAQ:TVGN - Get Free Report) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totalling 3,190,000 shares, an increase of 450.9% from the September 30th total of 579,000 shares. Approximately 14.5% of the shares of the company are sold short. Based on an average daily trading volume, of 13,960,000 shares, the short-interest ratio is currently 0.2 days.
Wall Street Analysts Forecast Growth
Separately, Fundamental Research set a $4.20 price target on Tevogen Bio and gave the company a "buy" rating in a report on Friday, June 28th.
Read Our Latest Report on TVGN
Insider Activity
In related news, insider Neal Flomenberg sold 1,078,600 shares of the stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $1.62, for a total transaction of $1,747,332.00. Following the completion of the sale, the insider now owns 4,254,302 shares in the company, valued at approximately $6,891,969.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 56.60% of the company's stock.
Institutional Investors Weigh In On Tevogen Bio
A hedge fund recently bought a new stake in Tevogen Bio stock. Portland Global Advisors LLC purchased a new stake in Tevogen Bio Holdings Inc. (NASDAQ:TVGN - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 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 holdings, making the stock its 9th biggest holding. Portland Global Advisors LLC owned about 36.55% of Tevogen Bio at the end of the most recent reporting period.
Tevogen Bio Stock Performance
Shares of TVGN stock traded up $0.49 on Friday, hitting $3.05. The stock had a trading volume of 16,689,648 shares, compared to its average volume of 4,928,792. Tevogen Bio has a one year low of $0.26 and a one year high of $21.09. The business has a 50 day moving average price of $0.67 and a 200 day moving average price of $0.87.
Tevogen Bio Company Profile
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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.
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