Tevogen Bio Holdings Inc. (NASDAQ:TVGN) Sees Significant Drop in Short Interest

Tevogen Bio Holdings Inc. (NASDAQ:TVGN - Get Free Report) saw a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 1,900,000 shares, a drop of 41.0% from the April 30th total of 3,220,000 shares. Based on an average trading volume of 888,500 shares, the short-interest ratio is presently 2.1 days. Currently, 7.1% of the shares of the stock are sold short.

Analyst Ratings Changes

Separately, D. Boral Capital reiterated a "buy" rating and issued a $10.00 price objective on shares of Tevogen Bio in a research report on Tuesday, May 27th.

Tevogen Bio Stock Up 1.6%

Shares of NASDAQ:TVGN traded up $0.02 during trading on Wednesday, hitting $1.30. 250,270 shares of the company's stock were exchanged, compared to its average volume of 5,033,961. The firm has a 50-day moving average price of $1.10 and a two-hundred day moving average price of $1.21. Tevogen Bio has a 1-year low of $0.26 and a 1-year high of $3.09.

Insider Transactions at Tevogen Bio

In other Tevogen Bio news, insider Neal Flomenberg sold 70,384 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $1.09, for a total transaction of $76,718.56. Following the completion of the transaction, the insider now directly owns 3,898,828 shares in the company, valued at $4,249,722.52. This represents a 1.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders sold 391,871 shares of company stock valued at $428,025. Company insiders own 73.24% of the company's stock.

Institutional Trading of Tevogen Bio

Several hedge funds have recently added to or reduced their stakes in TVGN. China Universal Asset Management Co. Ltd. acquired a new position in Tevogen Bio during the 4th quarter worth approximately $38,000. JPMorgan Chase & Co. raised its stake in shares of Tevogen Bio by 74.2% during the 4th quarter. JPMorgan Chase & Co. now owns 39,207 shares of the company's stock worth $40,000 after purchasing an additional 16,695 shares in the last quarter. Barclays PLC grew its stake in shares of Tevogen Bio by 39.2% in the fourth quarter. Barclays PLC now owns 45,600 shares of the company's stock valued at $48,000 after buying an additional 12,847 shares in the last quarter. XTX Topco Ltd bought a new stake in Tevogen Bio during the fourth quarter worth $55,000. Finally, Nuveen LLC bought a new stake in shares of Tevogen Bio in the 1st quarter valued at about $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.