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

Key Points

• Tevogen Bio's stock has been given a "buy" rating by D. Boral Capital, with a price target of $10.00.
• The company's stock performance shows a current price of $0.89, with a one-year low of $0.26 and a high of $3.09.
• CEO Ryan H. Saadi sold over 1.4 million shares of Tevogen Bio's stock recently, resulting in a 1.22% decrease in their ownership stake.

D. Boral Capital reaffirmed their buy rating on shares of Tevogen Bio (NASDAQ:TVGN - Free Report) in a research note published on Thursday morning,Benzinga reports. D. Boral Capital currently has a $10.00 price objective on the stock.

Tevogen Bio Stock Down 1.5%

TVGN stock traded down $0.01 during midday trading on Thursday, hitting $0.87. The stock had a trading volume of 543,280 shares, compared to its average volume of 636,483. The company's 50-day moving average price is $1.05 and its 200 day moving average price is $1.12. Tevogen Bio has a 12-month low of $0.26 and a 12-month high of $3.09.

Tevogen Bio (NASDAQ:TVGN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 19th. The company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.02.

Insider Buying and Selling at Tevogen Bio

In other Tevogen Bio news, CEO Ryan H. Saadi sold 1,438,206 shares of the 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 transaction, the chief executive officer owned 116,814,453 shares of the company's stock, valued at $143,681,777.19. This represents a 1.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 73.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted 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 during the period. Barclays PLC lifted its stake in shares of Tevogen Bio by 39.2% during 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 during the period. Nuveen LLC purchased a new position in shares of Tevogen Bio during the 1st quarter worth $97,000. Finally, Northern Trust Corp boosted its holdings in shares of 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 during the last quarter.

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.