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WARREN, N.J. - Tevogen Bio Holdings Inc. (NASDAQ:TVGN) reported Wednesday that institutional ownership of its common stock increased by 60% in the first quarter of 2025 compared to the fourth quarter of 2024, according to SEC filings. The increased institutional interest comes despite the stock trading at $0.95, down nearly 30% over the past six months, according to InvestingPro data.
The biopharmaceutical company said Vanguard and BlackRock were the largest contributors to this growth, together increasing their holdings by 151%. Among the 51 institutional investment managers holding Tevogen stock as of March 31, 2025, 73% either increased or maintained their positions. This institutional accumulation is particularly notable given Tevogen’s market capitalization of $193.4 million and its tendency to move counter to the broader market with a beta of -0.75.
Only one of the current institutional holders also owned Tevogen stock during the same period in 2024, indicating a significant influx of new institutional investors over the past year.
"Increased institutional ownership is widely regarded as a sign of confidence in a company’s fundamentals and long-term growth potential," said Tapan Shah, Tevogen’s Head of Investor Relations, in a press release. InvestingPro analysis reveals the stock has delivered an impressive 117% return over the past year, though current financial health indicators suggest caution may be warranted.
Tevogen is focused on developing targeted therapies for cancers and infectious diseases. The company recently reported advancements in its Tevogen.AI platform, new patent activity, and a collaboration with Microsoft and Databricks. The firm also plans to establish its own GMP cell manufacturing facility.
The company stated it will provide another institutional ownership update following the next SEC reporting period.
In other recent news, Tevogen Bio Holdings Inc. announced it expects to receive $1 million in grant funding to advance its AI-powered drug discovery platform, Tevogen.AI. The funding is part of a previously announced agreement with KRHP LLC, which could provide up to $10 million in non-dilutive funding. Additionally, Tevogen Bio has entered into a $50 million at-the-market equity offering agreement with A.G.P./Alliance Global Partners, allowing the company to issue and sell common stock as needed. The company’s leadership, including CEO Dr. Ryan Saadi, holds over 74% of the company’s stock, which they assert is crucial for maintaining strategic control. In a move highlighting insider involvement, Dr. Saadi was granted 8 million restricted shares, increasing the total outstanding shares to 193,693,433. These shares will vest in installments beginning on the seventh anniversary of the grant date. Furthermore, Dr. Saadi contributed $500,000 in cash to support the build-out and initial operating costs of Tevogen Bio’s new headquarters in Warren, New Jersey.
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