PepGen (NASDAQ:PEPG) Trading 8.1% Higher

PepGen Inc. (NASDAQ:PEPG)’s share price shot up 8.1% during trading on Monday . The stock traded as high as $11.44 and last traded at $11.39. 69,409 shares changed hands during trading, a decline of 41% from the average session volume of 117,857 shares. The stock had previously closed at $10.54.

Analyst Ratings Changes

Separately, Wedbush reduced their target price on PepGen from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, March 7th.

PepGen Stock Performance

The stock has a 50 day moving average price of $13.74 and a 200 day moving average price of $9.12. The company has a market capitalization of $368.47 million, a P/E ratio of -3.44 and a beta of 1.54.

PepGen (NASDAQ:PEPG) last announced its quarterly earnings data on Wednesday, March 6th. The company reported ($0.82) EPS for the quarter, topping the consensus estimate of ($1.01) by $0.19. As a group, sell-side analysts expect that PepGen Inc. will post -2.88 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Ra Capital Management, L.P. acquired 2,557,593 shares of PepGen stock in a transaction on Friday, February 9th. The stock was acquired at an average cost of $10.64 per share, with a total value of $27,212,789.52. Following the completion of the acquisition, the director now owns 9,179,273 shares in the company, valued at $97,667,464.72. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PepGen

Several institutional investors have recently added to or reduced their stakes in PEPG. Allspring Global Investments Holdings LLC purchased a new stake in PepGen during the third quarter valued at about $33,000. Rathbones Group PLC purchased a new stake in PepGen during the third quarter valued at about $315,000. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in PepGen by 18.3% during the third quarter. Adage Capital Partners GP L.L.C. now owns 680,000 shares of the company’s stock valued at $3,454,000 after purchasing an additional 105,000 shares during the last quarter. 58.01% of the stock is owned by hedge funds and other institutional investors.

PepGen Company Profile

PepGen Inc, a clinical-stage biotechnology company, focuses on the development of oligonucleotide therapeutics for use in the treatment of severe neuromuscular and neurologic diseases. Its lead product candidate is PGN-EDO51, an EDO peptide that is in Phase 2 clinical trial to treat Duchenne muscular dystrophy (DMD) patients.