PepGen (NASDAQ:PEPG) Issues Quarterly Earnings Results

PepGen (NASDAQ:PEPG) posted its quarterly earnings results on Tuesday. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.05, FiscalAI reports.

PepGen Trading Down 5.9%

NASDAQ:PEPG traded down $0.11 during midday trading on Thursday, hitting $1.68. 710,963 shares of the company traded hands, compared to its average volume of 1,201,306. The firm’s fifty day moving average is $3.16 and its 200-day moving average is $4.73. PepGen has a 12-month low of $1.01 and a 12-month high of $7.80. The firm has a market capitalization of $115.86 million, a P/E ratio of -0.95 and a beta of 2.01.

Institutional Trading of PepGen

Several hedge funds and other institutional investors have recently bought and sold shares of PEPG. RA Capital Management L.P. raised its holdings in PepGen by 87.7% during the 3rd quarter. RA Capital Management L.P. now owns 20,064,545 shares of the company’s stock valued at $92,698,000 after buying an additional 9,375,000 shares during the period. Vivo Capital LLC purchased a new position in PepGen in the 3rd quarter worth about $10,742,000. Viking Global Investors LP increased its stake in PepGen by 134.9% in the 3rd quarter. Viking Global Investors LP now owns 3,482,434 shares of the company’s stock worth $16,089,000 after buying an additional 2,000,000 shares during the period. Nantahala Capital Management LLC purchased a new position in PepGen in the 4th quarter worth about $10,072,000. Finally, Deep Track Capital LP purchased a new position in PepGen in the 3rd quarter worth about $5,544,000. Hedge funds and other institutional investors own 58.01% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Oppenheimer assumed coverage on PepGen in a research note on Wednesday, February 25th. They issued an “outperform” rating and a $15.00 price target for the company. Wedbush dropped their price target on PepGen from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Wednesday. Guggenheim upped their price target on PepGen from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of PepGen in a research note on Tuesday, April 21st. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, PepGen presently has an average rating of “Moderate Buy” and a consensus price target of $11.60.

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).