Tevogen Bio (NASDAQ:TVGN) Stock Price Down 10.7% – Time to Sell?

Tevogen Bio Holdings Inc. (NASDAQ:TVGN) was down 10.7% during trading on Thursday. The company traded as low as $5.29 and last traded at $5.11. 3,890 shares were traded during trading, a decline of 61% from the average session volume of 9,976 shares. The stock had previously closed at $5.72.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tevogen Bio in a research note on Thursday, October 15th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $100.00.

Tevogen Bio Stock Performance

The firm has a market capitalization of $33.27 million, a price-to-earnings ratio of -1.10 and a beta of 0.21. The business’s 50-day moving average is $6.90 and its two-hundred day moving average is $8.07.

Tevogen Bio (NASDAQ:TVGN) last released its quarterly earnings data on Friday, August 14th. The company reported ($1.52) earnings per share for the quarter, topping the consensus estimate of ($2.53) by $1.01.

Tevogen Bio Company Profile

Tevogen Bio is a clinical-stage biotechnology company focused on developing off-the-shelf T-cell therapies for patients with viral infections, cancer and other serious medical conditions. Its approach is designed to use virus-specific cytotoxic T lymphocytes to target diseased cells while limiting the challenges associated with individualized cell therapies.

The company’s lead program, TVGN 489, is an investigational T-cell therapy intended to address COVID-19 and other conditions caused by SARS-CoV-2, particularly among immunocompromised patients.