PepGen Inc. (NASDAQ:PEPG) Short Interest Update

PepGen Inc. (NASDAQ:PEPG) was the target of a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 576,800 shares, a growth of 51.6% from the June 30th total of 380,500 shares. Currently, 2.3% of the shares of the company are short sold. Based on an average trading volume of 95,200 shares, the days-to-cover ratio is presently 6.1 days.

Insider Activity

In other PepGen news, insider Michelle L. Mellion sold 3,288 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $18.04, for a total value of $59,315.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Niels Svenstrup sold 10,000 shares of the 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 is available through this hyperlink. Also, insider Michelle L. Mellion sold 3,288 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $18.04, for a total value of $59,315.52. The disclosure for this sale can be found here. Insiders sold a total of 49,182 shares of company stock valued at $844,269 in the last 90 days. Company insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On PepGen

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in PepGen by 68.0% during the first quarter. Vanguard Group Inc. now owns 850,445 shares of the company’s stock valued at $12,502,000 after purchasing an additional 344,266 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in PepGen in the 1st quarter worth about $30,000. Janus Henderson Group PLC boosted its holdings in PepGen by 18.1% in the 1st quarter. Janus Henderson Group PLC now owns 1,166,642 shares of the company’s stock worth $17,225,000 after buying an additional 178,438 shares during the last quarter. Artal Group S.A. purchased a new stake in PepGen during the 1st quarter worth approximately $2,940,000. Finally, RA Capital Management L.P. raised its holdings in shares of PepGen by 31.5% during the first quarter. RA Capital Management L.P. now owns 10,689,545 shares of the company’s stock valued at $157,136,000 after acquiring an additional 2,557,593 shares during the last quarter. Hedge funds and other institutional investors own 58.01% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on PEPG shares. HC Wainwright reaffirmed a “buy” rating and set a $26.00 target price on shares of PepGen in a research report on Wednesday, May 15th. Wedbush reaffirmed an “outperform” rating and set a $20.00 target price on shares of PepGen in a research report on Wednesday, May 15th.

PepGen Trading Down 5.6 %

Shares of PEPG stock traded down $1.04 during trading hours on Monday, hitting $17.51. The company’s stock had a trading volume of 134,152 shares, compared to its average volume of 108,108. PepGen has a 12-month low of $3.72 and a 12-month high of $19.30. The stock has a market cap of $567.67 million, a PE ratio of -5.39 and a beta of 1.73. The company has a 50 day moving average of $16.74 and a 200 day moving average of $14.03.

PepGen (NASDAQ:PEPG) last posted its 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. As a group, analysts anticipate that PepGen will post -2.87 earnings per share for the current fiscal 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.