PepGen (NASDAQ:PEPG) Trading 5.1% Higher

PepGen Inc. (NASDAQ:PEPG) shares rose 5.1% during mid-day trading on Monday . The stock traded as high as $17.00 and last traded at $16.77. Approximately 14,512 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 109,624 shares. The stock had previously closed at $15.96.

Wall Street Analyst Weigh In

PEPG has been the subject of several recent research reports. Wedbush reiterated an “outperform” rating and issued a $20.00 price objective on shares of PepGen in a research note on Wednesday, May 15th. HC Wainwright reissued a “buy” rating and set a $26.00 target price on shares of PepGen in a research report on Wednesday, May 15th.

PepGen Stock Performance

The firm has a market cap of $545.30 million, a price-to-earnings ratio of -5.20 and a beta of 1.73. The firm has a 50-day moving average price of $15.02 and a two-hundred day moving average price of $12.52.

PepGen (NASDAQ:PEPG) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.74) by $0.11. Research analysts anticipate that PepGen Inc. will post -2.87 earnings per share for the current year.

Insiders Place Their Bets

In other PepGen news, insider Michelle L. Mellion sold 9,260 shares of PepGen stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $18.19, for a total value of $168,439.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other PepGen news, SVP Niels Svenstrup sold 10,000 shares of PepGen stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $13.41, for a total value of $134,100.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michelle L. Mellion sold 9,260 shares of PepGen stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $18.19, for a total value of $168,439.40. The disclosure for this sale can be found here. Insiders have sold a total of 19,760 shares of company stock valued at $311,559 over the last quarter. Company insiders own 4.60% of the company’s stock.

Institutional Trading of PepGen

A number of institutional investors have recently modified their holdings of PEPG. Acadian Asset Management LLC purchased a new stake in shares of PepGen in the first quarter valued at approximately $30,000. Artal Group S.A. purchased a new stake in shares of PepGen in the first quarter valued at approximately $2,940,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of 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 buying an additional 105,000 shares in the last quarter. Vanguard Group Inc. boosted its position in PepGen by 68.0% during the first quarter. Vanguard Group Inc. now owns 850,445 shares of the company’s stock worth $12,502,000 after purchasing an additional 344,266 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in PepGen by 18.1% during the first quarter. Janus Henderson Group PLC now owns 1,166,642 shares of the company’s stock worth $17,225,000 after purchasing an additional 178,438 shares in the last quarter. 58.01% of the stock is currently owned by hedge funds and other institutional investors.

About PepGen

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.