D. Boral Capital Reiterates Buy Rating for Tevogen Bio (NASDAQ:TVGN)

Key Points

• D. Boral Capital has reiterated a "buy" rating for Tevogen Bio (NASDAQ:TVGN) with a price target of $10.00.
• Tevogen Bio's stock closed at $0.95 on Monday, significantly lower than its 1-year high of $3.09.
• CEO Ryan H. Saadi sold over 1.4 million shares on June 9th, reducing his ownership stake slightly but still retaining a significant position valued at approximately $143.7 million.

Tevogen Bio (NASDAQ:TVGN - Get Free Report)'s stock had its "buy" rating reiterated by D. Boral Capital in a report released on Monday,Benzinga reports. They currently have a $10.00 price target on the stock.

Tevogen Bio Price Performance

Tevogen Bio stock opened at $0.95 on Monday. The company's 50 day simple moving average is $1.14 and its 200-day simple moving average is $1.18. Tevogen Bio has a 1 year low of $0.26 and a 1 year high of $3.09.

Insider Activity

In other news, CEO Ryan H. Saadi sold 1,438,206 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $1.23, for a total value of $1,768,993.38. Following the sale, the chief executive officer directly owned 116,814,453 shares of the company's stock, valued at approximately $143,681,777.19. The trade was a 1.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 73.24% of the company's stock.

Institutional Investors Weigh In On Tevogen Bio

A number of large investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in shares of Tevogen Bio by 74.2% in the 4th quarter. JPMorgan Chase & Co. now owns 39,207 shares of the company's stock valued at $40,000 after buying an additional 16,695 shares in the last quarter. Geode Capital Management LLC boosted its stake in Tevogen Bio by 31.2% during the 4th quarter. Geode Capital Management LLC now owns 451,851 shares of the company's stock worth $465,000 after purchasing an additional 107,566 shares during the period. Barclays PLC lifted its stake in shares of Tevogen Bio by 39.2% in the 4th quarter. Barclays PLC now owns 45,600 shares of the company's stock worth $48,000 after acquiring an additional 12,847 shares during the period. XTX Topco Ltd acquired a new stake in shares of Tevogen Bio in the 4th quarter worth $55,000. Finally, Northern Trust Corp boosted its holdings in Tevogen Bio by 13.0% in the 4th quarter. Northern Trust Corp now owns 118,415 shares of the company's stock valued at $122,000 after purchasing an additional 13,595 shares in the last quarter.

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.

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