Insider Buying: PepGen (NASDAQ:PEPG) Major Shareholder Buys $640,000.00 in Stock

PepGen, Inc. (NASDAQ:PEPG) major shareholder Science Enterprises Plc Oxford bought 200,000 shares of PepGen stock in a transaction dated Tuesday, September 30th. The shares were acquired at an average cost of $3.20 per share, for a total transaction of $640,000.00. Following the completion of the purchase, the insider directly owned 4,955,388 shares of the company’s stock, valued at approximately $15,857,241.60. This trade represents a 4.21% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

PepGen Stock Up 1.0%

Shares of PEPG stock opened at $5.13 on Friday. The firm has a market capitalization of $168.26 million, a price-to-earnings ratio of -1.73 and a beta of 1.96. The stock has a fifty day moving average of $1.92 and a 200 day moving average of $1.58. PepGen, Inc. has a 52 week low of $0.88 and a 52 week high of $9.94.

PepGen (NASDAQ:PEPG) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.85) by $0.15. Equities research analysts anticipate that PepGen, Inc. will post -2.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on PEPG. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PepGen in a research report on Saturday, September 27th. Stifel Nicolaus raised their target price on PepGen from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, September 25th. Wedbush lifted their price target on PepGen from $7.00 to $9.00 and gave the company an “outperform” rating in a research report on Thursday, September 25th. Guggenheim reiterated a “buy” rating and issued a $6.00 price objective on shares of PepGen in a report on Wednesday, September 24th. Finally, HC Wainwright boosted their target price on shares of PepGen from $8.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, September 25th. Four research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $8.40.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG grew its stake in shares of PepGen by 442.5% in the fourth quarter. Deutsche Bank AG now owns 44,735 shares of the company’s stock worth $170,000 after acquiring an additional 36,489 shares during the last quarter. Wellington Management Group LLP boosted its stake in PepGen by 17.2% in the 4th quarter. Wellington Management Group LLP now owns 47,506 shares of the company’s stock worth $180,000 after purchasing an additional 6,989 shares in the last quarter. Millennium Management LLC boosted its stake in PepGen by 1,033.2% in the 4th quarter. Millennium Management LLC now owns 156,636 shares of the company’s stock worth $594,000 after purchasing an additional 142,814 shares in the last quarter. Bank of America Corp DE grew its position in PepGen by 54.7% during the 4th quarter. Bank of America Corp DE now owns 53,868 shares of the company’s stock valued at $204,000 after purchasing an additional 19,056 shares during the last quarter. Finally, ADAR1 Capital Management LLC bought a new stake in PepGen during the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 58.01% of the company’s stock.

PepGen Company Profile

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.