Tevogen Bio (NASDAQ:TVGN) Shares Gap Down – Here’s Why

Tevogen Bio Holdings Inc. (NASDAQ:TVGN) shares gapped down prior to trading on Friday . The stock had previously closed at $2.56, but opened at $2.49. Tevogen Bio shares last traded at $2.95, with a volume of 13,727,006 shares trading hands.

Tevogen Bio Price Performance

The stock’s 50 day moving average is $0.72 and its two-hundred day moving average is $0.86.

Insider Buying and Selling

In other Tevogen Bio news, insider Neal Flomenberg sold 1,078,600 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 4,254,302 shares in the company, valued at approximately $6,891,969.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 56.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Tevogen Bio stock. Portland Global Advisors LLC acquired a new stake in Tevogen Bio Holdings Inc. (NASDAQ:TVGN) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 5,782,209 shares of the company’s stock, valued at approximately $21,683,000. Tevogen Bio makes up approximately 3.0% of Portland Global Advisors LLC’s portfolio, making the stock its 9th largest holding. Portland Global Advisors LLC owned 36.55% of Tevogen Bio at the end of the most recent quarter.

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.