Tevogen Bio Holdings Inc. (NASDAQ:TVGN) Short Interest Down 41.0% in May

Tevogen Bio Holdings Inc. (NASDAQ:TVGN - Get Free Report) was the recipient of a significant drop in short interest during 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. Currently, 7.1% of the company's shares are sold short. Based on an average daily trading volume, of 888,500 shares, the days-to-cover ratio is presently 2.1 days.

Analyst Ratings Changes

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

Insider Activity

In other news, insider Neal Flomenberg sold 70,384 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $1.09, for a total transaction of $76,718.56. Following the completion of the sale, the insider now directly owns 3,898,828 shares in the company, valued at approximately $4,249,722.52. This represents a 1.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 406,510 shares of company stock valued at $446,763. 73.24% of the stock is currently owned by insiders.

Institutional Trading of Tevogen Bio

A number of institutional investors have recently modified their holdings of TVGN. China Universal Asset Management Co. Ltd. purchased a new stake in Tevogen Bio in the fourth quarter worth about $38,000. JPMorgan Chase & Co. lifted its holdings in Tevogen Bio by 74.2% in the fourth quarter. JPMorgan Chase & Co. now owns 39,207 shares of the company's stock worth $40,000 after buying an additional 16,695 shares during the period. Barclays PLC lifted its holdings in Tevogen Bio by 39.2% in the fourth quarter. Barclays PLC now owns 45,600 shares of the company's stock worth $48,000 after buying an additional 12,847 shares during the period. XTX Topco Ltd purchased a new stake in Tevogen Bio in the fourth quarter worth about $55,000. Finally, Nuveen LLC purchased a new stake in Tevogen Bio in the first quarter worth about $97,000.

Tevogen Bio Stock Performance

Shares of Tevogen Bio stock remained flat at $1.29 during trading on Monday. 320,478 shares of the stock were exchanged, compared to its average volume of 5,031,699. The stock's 50-day moving average is $1.09 and its two-hundred day moving average is $1.21. Tevogen Bio has a one year low of $0.26 and a one year high of $3.09.

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.