PepGen Inc. (NASDAQ:PEPG) Short Interest Down 15.3% in April

PepGen Inc. (NASDAQ:PEPG) was the target of a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 338,800 shares, a decline of 15.3% from the March 31st total of 400,200 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average daily volume of 134,600 shares, the short-interest ratio is presently 2.5 days.

Insider Activity

In other news, Director Ra Capital Management, L.P. acquired 2,557,593 shares of the company’s stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $10.64 per share, with a total value of $27,212,789.52. Following the purchase, the director now owns 9,179,273 shares of the company’s stock, valued at approximately $97,667,464.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.97% of the company’s stock.

Institutional Trading of PepGen

Several large investors have recently bought and sold shares of the company. Rathbones Group PLC purchased a new stake in shares of PepGen in the 3rd quarter worth about $315,000. Adage Capital Partners GP L.L.C. raised its position in PepGen by 18.3% during the third 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 last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of PepGen in the third quarter valued at about $33,000. Institutional investors and hedge funds own 58.01% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wedbush cut their target price on PepGen from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, March 7th.

PepGen Trading Up 5.1 %

Shares of NASDAQ:PEPG traded up $0.60 on Tuesday, reaching $12.28. 36,239 shares of the company were exchanged, compared to its average volume of 111,849. The company has a 50-day moving average of $13.55 and a 200-day moving average of $9.35. PepGen has a 1-year low of $3.72 and a 1-year high of $17.51. The firm has a market cap of $397.26 million, a price-to-earnings ratio of -3.73 and a beta of 1.54.

PepGen (NASDAQ:PEPG) last announced its quarterly earnings results on Wednesday, March 6th. The company reported ($0.82) EPS for the quarter, topping the consensus estimate of ($1.01) by $0.19. As a group, analysts forecast that PepGen will post -2.88 earnings per share for the current year.

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.