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

Tevogen Bio Holdings Inc. (NASDAQ:TVGN)’s stock price was down 5.6% during trading on Tuesday . The stock traded as low as $1.33 and last traded at $1.34. Approximately 1,900,410 shares were traded during mid-day 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 company’s fifty day moving average is $1.27 and its 200 day moving average is $0.89.

Insiders Place Their Bets

In other news, insider Neal Flomenberg sold 1,078,600 shares of the 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 of the company’s stock, valued at $6,891,969.24. This represents a 20.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 56.60% of the company’s stock.

Hedge Funds Weigh In On Tevogen Bio

A hedge fund recently bought a new stake in Tevogen Bio stock. HGC Investment Management Inc. acquired a new stake in Tevogen Bio Holdings Inc. (NASDAQ:TVGN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 223,077 shares of the company’s stock, valued at approximately $82,000. HGC Investment Management Inc. owned 0.13% of Tevogen Bio at the end of the most recent reporting period.

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.