Short Interest in PepGen Inc. (NASDAQ:PEPG) Declines By 15.3%

PepGen Inc. (NASDAQ:PEPG) saw a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 338,800 shares, a drop of 15.3% from the March 31st total of 400,200 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average daily trading volume, of 134,600 shares, the days-to-cover ratio is currently 2.5 days.

Analyst Ratings Changes

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

Insider Transactions at PepGen

In other PepGen news, Director Ra Capital Management, L.P. purchased 2,557,593 shares of PepGen stock in a transaction dated Friday, February 9th. The shares were bought at an average cost of $10.64 per share, for a total transaction of $27,212,789.52. Following the transaction, the director now owns 9,179,273 shares in the company, valued at approximately $97,667,464.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.97% of the company’s stock.

Institutional Trading of PepGen

Several hedge funds have recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. lifted its position in PepGen by 18.3% in the 3rd 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. Rathbones Group PLC bought a new stake in shares of PepGen during the 3rd quarter worth about $315,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of PepGen during the 3rd quarter worth about $33,000. 58.01% of the stock is currently owned by institutional investors.

PepGen Trading Up 2.0 %

Shares of NASDAQ:PEPG opened at $11.93 on Monday. The company’s 50-day moving average price is $13.59 and its 200 day moving average price is $9.31. PepGen has a fifty-two week low of $3.72 and a fifty-two week high of $17.51.

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

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.