PepGen (NASDAQ:PEPG) Receives “Outperform” Rating from Wedbush

PepGen (NASDAQ:PEPG)‘s stock had its “outperform” rating restated by research analysts at Wedbush in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $20.00 price target on the stock. Wedbush’s price target suggests a potential upside of 111.64% from the company’s previous close.

PEPG has been the subject of a number of other reports. HC Wainwright reissued a “buy” rating and issued a $26.00 target price on shares of PepGen in a report on Wednesday, May 15th. Bank of America lowered PepGen from a “buy” rating to a “neutral” rating and set a $12.00 price objective for the company. in a research report on Wednesday.

PepGen Trading Down 44.3 %

PEPG stock traded down $7.53 during trading on Wednesday, hitting $9.45. The company had a trading volume of 987,748 shares, compared to its average volume of 113,937. The business has a 50 day moving average of $16.80 and a 200 day moving average of $14.10. The firm has a market capitalization of $306.37 million, a price-to-earnings ratio of -2.91 and a beta of 1.73. PepGen has a fifty-two week low of $3.72 and a fifty-two week high of $19.30.

PepGen (NASDAQ:PEPG) last announced 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, equities analysts predict that PepGen will post -2.87 EPS for the current year.

Insider Activity at PepGen

In related news, insider Michelle L. Mellion sold 12,625 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $18.20, for a total transaction of $229,775.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other PepGen news, insider Michelle L. Mellion sold 12,625 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $18.20, for a total transaction of $229,775.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Niels Svenstrup sold 10,000 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $13.41, for a total value of $134,100.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,182 shares of company stock valued at $844,269. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On PepGen

Large investors have recently modified their holdings of the company. RA Capital Management L.P. lifted its holdings in PepGen by 31.5% in 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 buying an additional 2,557,593 shares during the period. Vanguard Group Inc. boosted its holdings in PepGen by 68.0% in the first quarter. Vanguard Group Inc. now owns 850,445 shares of the company’s stock worth $12,502,000 after acquiring an additional 344,266 shares in the last quarter. Artal Group S.A. bought a new position in shares of PepGen in the first quarter valued at $2,940,000. Janus Henderson Group PLC increased its holdings in PepGen by 18.1% during the 1st quarter. Janus Henderson Group PLC now owns 1,166,642 shares of the company’s stock worth $17,225,000 after purchasing an additional 178,438 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of PepGen by 43.6% in the second quarter. Bank of New York Mellon Corp now owns 44,157 shares of the company’s stock valued at $705,000 after purchasing an additional 13,397 shares during the last quarter. 58.01% of the stock is currently owned by institutional investors and hedge funds.

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.