PepGen (NASDAQ:PEPG) Stock Price Down 0.4%

PepGen Inc. (NASDAQ:PEPG)’s share price dropped 0.4% on Wednesday . The stock traded as low as $8.65 and last traded at $9.10. Approximately 246,463 shares traded hands during trading, an increase of 95% from the average daily volume of 126,467 shares. The stock had previously closed at $9.14.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wedbush reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of PepGen in a research report on Wednesday, July 31st. Bank of America downgraded PepGen from a “buy” rating to a “neutral” rating and set a $12.00 price target for the company. in a research report on Wednesday, July 31st. Finally, HC Wainwright reissued a “buy” rating and issued a $26.00 price objective on shares of PepGen in a research report on Thursday, August 1st.

PepGen Stock Down 0.4 %

The firm has a market cap of $296.57 million, a P/E ratio of -2.80 and a beta of 1.71. The firm’s 50-day simple moving average is $13.10 and its 200 day simple moving average is $13.95.

PepGen (NASDAQ:PEPG) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.15). As a group, analysts forecast that PepGen Inc. will post -3.16 earnings per share for the current year.

Insider Transactions at PepGen

In other PepGen news, insider Michelle L. Mellion sold 7,571 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $18.06, for a total transaction of $136,732.26. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 39,182 shares of company stock worth $710,169. 4.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PEPG. RA Capital Management L.P. raised its stake in PepGen by 31.5% in the first quarter. RA Capital Management L.P. now owns 10,689,545 shares of the company’s stock worth $157,136,000 after buying an additional 2,557,593 shares in the last quarter. Vanguard Group Inc. increased its holdings in PepGen by 68.0% in the 1st quarter. Vanguard Group Inc. now owns 850,445 shares of the company’s stock worth $12,502,000 after acquiring an additional 344,266 shares in the last quarter. Artal Group S.A. purchased a new position in shares of PepGen during the 1st quarter valued at $2,940,000. Janus Henderson Group PLC boosted its stake in shares of PepGen by 18.1% in the first quarter. Janus Henderson Group PLC now owns 1,166,642 shares of the company’s stock worth $17,225,000 after acquiring an additional 178,438 shares during the period. Finally, Sofinnova Investments Inc. raised its holdings in shares of PepGen by 11.4% during the 2nd quarter. Sofinnova Investments Inc. now owns 561,128 shares of the company’s stock worth $8,956,000 after acquiring an additional 57,504 shares in the last quarter. 58.01% of the stock is currently 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.