PepGen (NASDAQ:PEPG) Shares Down 14.4% – Here’s What Happened

PepGen Inc. (NASDAQ:PEPG) was down 14.4% on Thursday . The company traded as low as $1.25 and last traded at $1.25. Approximately 145,509 shares were traded during trading, a decline of 82% from the average daily volume of 800,453 shares. The stock had previously closed at $1.46.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PEPG. Bank of America lowered shares of PepGen from a “neutral” rating to an “underperform” rating and set a $3.00 target price for the company. in a research report on Monday, December 16th. HC Wainwright reiterated a “buy” rating and set a $16.00 price objective on shares of PepGen in a research note on Monday, February 24th.

PepGen Price Performance

The stock has a market capitalization of $35.80 million, a price-to-earnings ratio of -0.37 and a beta of 0.98. The business has a fifty day moving average of $1.76 and a 200-day moving average of $4.42.

PepGen (NASDAQ:PEPG) last released its earnings results on Monday, February 24th. The company reported ($0.68) EPS for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.13. As a group, research analysts anticipate that PepGen Inc. will post -2.73 EPS for the current year.

Institutional Investors Weigh In On PepGen

A number of institutional investors and hedge funds have recently modified their holdings of PEPG. Jane Street Group LLC raised its position in shares of PepGen by 29.1% during the third quarter. Jane Street Group LLC now owns 27,748 shares of the company’s stock worth $237,000 after purchasing an additional 6,254 shares during the period. Barclays PLC lifted its position in shares of PepGen by 318.7% in the 3rd quarter. Barclays PLC now owns 21,971 shares of the company’s stock valued at $189,000 after acquiring an additional 16,723 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in PepGen by 289.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 26,611 shares of the company’s stock worth $228,000 after purchasing an additional 19,786 shares during the period. Janus Henderson Group PLC grew its position in PepGen by 331.2% during the 3rd quarter. Janus Henderson Group PLC now owns 2,336,516 shares of the company’s stock worth $20,012,000 after purchasing an additional 1,794,641 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in PepGen by 76.9% during the 3rd quarter. Wellington Management Group LLP now owns 40,517 shares of the company’s stock worth $346,000 after purchasing an additional 17,618 shares in the last quarter. Institutional investors and hedge funds own 58.01% of the company’s stock.

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.