PepGen, Inc. (NASDAQ:PEPG) Short Interest Up 26.1% in March

PepGen, Inc. (NASDAQ:PEPG) saw a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 3,347,565 shares, a growth of 26.1% from the February 26th total of 2,654,341 shares. Currently, 5.1% of the company’s stock are sold short. Based on an average daily trading volume, of 969,026 shares, the short-interest ratio is presently 3.5 days.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Wedbush cut their target price on PepGen from $9.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PepGen in a research note on Thursday, January 22nd. Guggenheim boosted their price objective on shares of PepGen from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Finally, Oppenheimer began coverage on shares of PepGen in a report on Wednesday, February 25th. They set an “outperform” rating and a $15.00 target price for the company. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $11.80.

Hedge Funds Weigh In On PepGen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PEPG. Rangeley Capital LLC raised its position 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 during the period. Marshall Wace LLP bought a new position in PepGen in the 2nd quarter valued at about $44,000. Heights Capital Management Inc. bought a new position in PepGen in the 3rd quarter valued at about $46,000. Burkehill Global Management LP acquired a new stake in PepGen during the third quarter worth approximately $46,000. Finally, Militia Capital Partners LP acquired a new stake in PepGen during the third quarter worth approximately $72,000. 58.01% of the stock is owned by institutional investors.

PepGen Trading Up 6.2%

Shares of PepGen stock traded up $0.11 during trading on Wednesday, hitting $1.88. 1,262,836 shares of the stock were exchanged, compared to its average volume of 1,158,767. The company has a fifty day moving average price of $5.51 and a 200-day moving average price of $5.22. The stock has a market capitalization of $129.93 million, a price-to-earnings ratio of -0.78 and a beta of 1.87. PepGen has a 1-year low of $0.88 and a 1-year high of $7.80.

PepGen (NASDAQ:PEPG) last posted its quarterly earnings results on Wednesday, March 4th. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.13. Equities research analysts forecast that PepGen will post -2.73 EPS for the current fiscal year.

PepGen Company Profile

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).