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

Shares of Tevogen Bio Holdings Inc. (NASDAQ:TVGN) fell 5.6% during mid-day trading on Tuesday . The company traded as low as $1.33 and last traded at $1.34. 1,900,410 shares traded hands during trading, a decline of 62% from the average session volume of 4,968,297 shares. The stock had previously closed at $1.42.

Tevogen Bio Stock Down 5.6 %

The company has a 50 day moving average price of $1.24 and a 200-day moving average price of $0.89.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Tevogen Bio stock. HGC Investment Management Inc. purchased a new stake in Tevogen Bio Holdings Inc. (NASDAQ:TVGN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 filing with the Securities and Exchange Commission (SEC).

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.