PepGen (NASDAQ:PEPG) Trading 8.1% Higher

PepGen Inc. (NASDAQ:PEPG) traded up 8.1% during mid-day trading on Monday . The company traded as high as $11.44 and last traded at $11.39. 69,409 shares changed hands during mid-day 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 lowered their price objective on shares of PepGen from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th.

PepGen Price Performance

The stock’s 50-day simple moving average is $13.74 and its 200 day simple moving average is $9.12. The stock 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 released its quarterly earnings data on Wednesday, March 6th. The company reported ($0.82) EPS for the quarter, topping analysts’ consensus estimates of ($1.01) by $0.19. As a group, analysts expect that PepGen Inc. will post -2.88 earnings per share for the current fiscal year.

Insider Activity

In other PepGen news, Director Ra Capital Management, L.P. bought 2,557,593 shares of PepGen stock in a transaction dated Friday, February 9th. The stock was bought at an average price of $10.64 per share, with a total value of $27,212,789.52. Following the completion of 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 filing with the Securities & Exchange Commission, which is accessible through this link. 3.97% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rathbones Group PLC acquired a new position in PepGen in the third quarter valued at about $315,000. Adage Capital Partners GP L.L.C. raised its stake in PepGen by 18.3% in 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in PepGen in the third quarter valued at about $33,000. Institutional investors and hedge funds own 58.01% of the company’s stock.

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.