PepGen (NASDAQ:PEPG) Posts Earnings Results, Beats Expectations By $0.11 EPS

PepGen (NASDAQ:PEPG) issued its quarterly earnings data on Wednesday. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.11, FiscalAI reports.

PepGen Stock Performance

PepGen stock traded up $0.34 during trading hours on Wednesday, reaching $6.76. 687,487 shares of the company’s stock traded hands, compared to its average volume of 672,839. PepGen has a fifty-two week low of $0.88 and a fifty-two week high of $7.80. The firm has a market capitalization of $464.74 million, a price-to-earnings ratio of -2.40 and a beta of 1.87. The firm’s 50 day moving average is $5.90 and its 200-day moving average is $4.68.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PEPG shares. Wall Street Zen raised shares of PepGen from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Guggenheim boosted their target price on shares of PepGen from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. HC Wainwright raised their price objective on shares of PepGen from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Oppenheimer started coverage on shares of PepGen in a report on Wednesday, February 25th. They set an “outperform” rating and a $15.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of PepGen in a research report on Thursday, January 22nd. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.60.

Institutional Trading of PepGen

Large investors have recently made changes to their positions in the company. Rangeley Capital LLC lifted its holdings in shares of PepGen by 133.3% in the second quarter. Rangeley Capital LLC now owns 35,000 shares of the company’s stock valued at $39,000 after purchasing an additional 20,000 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of PepGen in the 2nd quarter valued at about $44,000. Burkehill Global Management LP bought a new position in shares of PepGen during the 3rd quarter worth approximately $46,000. Militia Capital Partners LP bought a new position in PepGen during the third quarter worth $72,000. Finally, Qube Research & Technologies Ltd acquired a new position in PepGen in the 2nd quarter valued at about $81,000. Institutional investors own 58.01% of the company’s stock.

About PepGen

PepGen, Inc (NASDAQ: PEPG) is a clinical-stage biotechnology company headquartered in San Diego, California. The company is developing precision gene editing therapies to address rare genetic diseases by combining advanced prime editing modalities with proprietary delivery technologies. PepGen’s platform is designed to achieve targeted and durable correction of disease-causing mutations in vivo, with the goal of providing long-lasting therapeutic benefit after a single administration.

The company’s lead development programs include PPG-001 for mucopolysaccharidosis type II (Hunter syndrome) and PPG-002 for mucopolysaccharidosis type I (Hurler syndrome).