Tevogen Bio Holdings Inc. (NASDAQ:TVGN) Sees Significant Reduction in Short Interest

Tevogen Bio Holdings Inc. (NASDAQ:TVGN) experienced a noteworthy decrease in short interest during February. As of February 15th, the short interest reached 1,460,000 shares, marking a substantial decline of 47.5% from the January 31st figure of 2,780,000 shares. Currently, about 5.9% of the company's stock is sold short. Given the average daily trading volume of 2,750,000 shares, the ratio of short interest to daily volume, known as the days-to-cover ratio, sits at 0.5 days.

Tevogen Bio Stock Overview

On Friday, the shares of Tevogen Bio opened at $1.28. The company boasts a 50-day moving average price of $1.34, and a two-hundred-day moving average price of $1.13. Tevogen Bio has seen a twelve-month low of $0.26 and a twelve-month high of $8.49, indicating significant volatility in its stock price.

Institutional Investment Trends

Recently, various hedge funds have shown interest in Tevogen Bio by buying and selling shares. For instance, China Universal Asset Management Co. Ltd. acquired a new position in the company during the fourth quarter, valued at approximately $38,000. Meanwhile, JPMorgan Chase & Co. increased its stake by 74.2%, now holding 39,207 shares worth $40,000 after an additional purchase of 16,695 shares. Similarly, Barclays PLC raised its position by 39.2% during the same period, holding 45,600 shares valued at $48,000 after acquiring another 12,847 shares. Other investment firms, including XTX Topco Ltd., which bought a new position worth around $55,000, and Northern Trust Corp., which increased its stake by 13.0% to 118,415 shares with a value of $122,000, have joined in increasing their investment in Tevogen Bio.

About Tevogen Bio Holdings Inc.

Tevogen Bio Holdings Inc. operates as a clinical-stage specialty immunotherapy company focused on developing off-the-shelf precision T cell therapies. These therapies target various medical conditions, including infectious diseases, cancers, and neurological disorders. One of their key products, TVGN 489, has already completed a Phase 1 clinical trial aimed at treating chronic lingering symptoms from the disease known as Long COVID. It also focuses on patients suffering from both acute COVID-19 and specific circumstances, such as those without a B cell cancer indication, elderly patients, and those on T cell suppressive drugs, including solid organ transplant patients.

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This news article aims to provide an informative summary of Tevogen Bio Holdings Inc. and its recent short interest data, as well as insights into its stock performance and institutional investment activities.

Should You Consider Investing in Tevogen Bio?

Before making any investment decisions, it is advisable to review the latest market analysis and analyst recommendations. While Tevogen Bio currently holds a Buy rating among analysts, many top-rated analysts suggest exploring alternative stocks that may present more promising investment opportunities.

Tevogen, Bio, Stocks