PepGen (NASDAQ:PEPG) Trading Down 7.3%

PepGen Inc. (NASDAQ:PEPGGet Free Report)’s share price was down 7.3% during trading on Tuesday . The stock traded as low as $15.54 and last traded at $15.54. Approximately 22,627 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 103,318 shares. The stock had previously closed at $16.76.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Wedbush reissued an “outperform” rating and set a $20.00 price target on shares of PepGen in a research report on Wednesday, May 15th. HC Wainwright reissued a “buy” rating and issued a $26.00 price target on shares of PepGen in a research report on Wednesday, May 15th.

Read Our Latest Research Report on PEPG

PepGen Price Performance

The firm has a market capitalization of $502.19 million, a PE ratio of -4.83 and a beta of 1.76. The company has a fifty day moving average of $13.33 and a 200-day moving average of $10.98.

PepGen (NASDAQ:PEPGGet Free Report) last posted its quarterly earnings results on Wednesday, March 6th. The company reported ($0.82) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.01) by $0.19. Equities analysts anticipate that PepGen Inc. will post -2.87 EPS for the current year.

Insider Buying and Selling at PepGen

In other PepGen news, SVP Niels Svenstrup sold 10,000 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $13.41, for a total transaction of $134,100.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On PepGen

A number of institutional investors and hedge funds have recently bought and sold shares of PEPG. Acadian Asset Management LLC bought a new position in shares of PepGen during the 1st quarter worth about $30,000. Allspring Global Investments Holdings LLC acquired a new stake in PepGen during the third quarter worth $33,000. Rathbones Group PLC bought a new stake in PepGen in the 3rd quarter valued at $315,000. Artal Group S.A. acquired a new position in shares of PepGen in the 1st quarter valued at $2,940,000. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in shares of PepGen by 18.3% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 680,000 shares of the company’s stock worth $3,454,000 after acquiring an additional 105,000 shares during the period. Institutional investors own 58.01% of the company’s stock.

PepGen Company Profile

(Get Free Report)

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.

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