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Semper Paratus Acquisition (NASDAQ:TVGN) Stock Price Down 3% - Here's What Happened

Semper Paratus Acquisition logo with Medical background

Key Points

  • Semper Paratus Acquisition's stock price declined by 3% to $0.98, with trading volume significantly lower than the average.
  • CEO Ryan H. Saadi sold over 1.4 million shares at an average price of $1.23, decreasing his ownership stake by 1.22%.
  • Institutional investors showed increased interest, with JPMorgan raising its holdings by 74.2% in the last quarter.
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Semper Paratus Acquisition Corporation (NASDAQ:TVGN - Get Free Report)'s share price fell 3% during trading on Thursday . The stock traded as low as $0.97 and last traded at $0.98. 680,884 shares changed hands during trading, a decline of 58% from the average session volume of 1,638,731 shares. The stock had previously closed at $1.01.

Wall Street Analyst Weigh In

Separately, D. Boral Capital restated a "buy" rating and set a $10.00 target price on shares of Semper Paratus Acquisition in a research report on Monday, August 4th.

View Our Latest Research Report on Semper Paratus Acquisition

Semper Paratus Acquisition Trading Down 3.0%

The stock has a fifty day moving average of $1.15 and a two-hundred day moving average of $1.19.

Insiders Place Their Bets

In related news, CEO Ryan H. Saadi sold 1,438,206 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $1.23, for a total transaction of $1,768,993.38. Following the completion of the sale, the chief executive officer directly owned 116,814,453 shares of the company's stock, valued at $143,681,777.19. This trade represents a 1.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 73.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Semper Paratus Acquisition

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in Semper Paratus Acquisition by 74.2% during the 4th quarter. JPMorgan Chase & Co. now owns 39,207 shares of the company's stock valued at $40,000 after purchasing an additional 16,695 shares in the last quarter. Barclays PLC increased its holdings in Semper Paratus Acquisition by 39.2% during the 4th quarter. Barclays PLC now owns 45,600 shares of the company's stock valued at $48,000 after purchasing an additional 12,847 shares in the last quarter. XTX Topco Ltd bought a new position in Semper Paratus Acquisition in the 4th quarter valued at $55,000. Nuveen LLC bought a new position in Semper Paratus Acquisition in the 1st quarter valued at $97,000. Finally, Northern Trust Corp boosted its position in Semper Paratus Acquisition 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 buying an additional 13,595 shares during the last quarter.

Semper Paratus Acquisition Company Profile

(Get Free Report)

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.

See Also

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.

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