Tevogen Bio (NASDAQ:TVGN) Shares Down 5.6% – Should You Sell?

Tevogen Bio Holdings Inc. (NASDAQ:TVGN)’s share price dropped 5.6% on Tuesday . The stock traded as low as $1.33 and last traded at $1.34. Approximately 1,900,410 shares traded hands during trading, a decline of 62% from the average daily volume of 4,968,297 shares. The stock had previously closed at $1.42.

Tevogen Bio Trading Up 2.2 %

The firm’s 50-day moving average price is $1.27 and its two-hundred day moving average price is $0.89.

Insider Activity

In other Tevogen Bio news, insider Neal Flomenberg sold 1,078,600 shares of the business’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $1.62, for a total value of $1,747,332.00. Following the transaction, the insider now directly owns 4,254,302 shares in the company, valued at $6,891,969.24. The trade was a 20.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 56.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tevogen Bio

An institutional investor recently bought a new position in Tevogen Bio stock. HGC Investment Management Inc. purchased a new stake in Tevogen Bio Holdings Inc. (NASDAQ:TVGN) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 223,077 shares of the company’s stock, valued at approximately $82,000. HGC Investment Management Inc. owned approximately 0.13% of Tevogen Bio as of its most recent SEC filing.

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.