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

Tevogen Bio (NASDAQ:TVGN - Get Free Report)'s stock had its "buy" rating restated by analysts at D. Boral Capital in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $10.00 price objective on the stock.

Tevogen Bio Stock Up 12.7%

Shares of NASDAQ TVGN traded up $0.14 during midday trading on Tuesday, reaching $1.24. The stock had a trading volume of 1,050,016 shares, compared to its average volume of 5,034,030. Tevogen Bio has a twelve month low of $0.26 and a twelve month high of $3.09. The company's 50 day moving average price is $1.11 and its 200 day moving average price is $1.20.

Insiders Place Their Bets

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 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 now owns 116,814,453 shares in the company, valued at $143,681,777.19. The trade was a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Neal Flomenberg sold 232,968 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $1.09, for a total transaction of $253,935.12. Following the transaction, the insider now owns 3,595,608 shares in the company, valued at approximately $3,919,212.72. The trade was a 6.08% decrease in their position. The disclosure for this sale can be found here. Company insiders own 73.24% of the company's stock.

Institutional Investors Weigh In On Tevogen Bio

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC grew its position in 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 purchasing an additional 12,847 shares in the last quarter. Northern Trust Corp increased its position in shares of Tevogen Bio by 13.0% during 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 during the last quarter. JPMorgan Chase & Co. grew its position in Tevogen Bio by 74.2% during the fourth 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 during the period. XTX Topco Ltd purchased a new stake in Tevogen Bio during the fourth quarter worth about $55,000. Finally, Nuveen LLC bought a new stake in Tevogen Bio in the first quarter worth about $97,000.

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.