PepGen (NASDAQ:PEPG) Issues Quarterly Earnings Results, Beats Expectations By $0.13 EPS

PepGen (NASDAQ:PEPG) posted its quarterly earnings results on Wednesday. The company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.13, FiscalAI reports.

PepGen Trading Down 17.9%

Shares of PEPG stock traded down $1.21 during trading hours on Thursday, reaching $5.55. 1,353,553 shares of the stock were exchanged, compared to its average volume of 701,108. PepGen has a 12-month low of $0.88 and a 12-month high of $7.80. The firm has a market capitalization of $381.56 million, a price-to-earnings ratio of -1.97 and a beta of 1.87. The company’s 50-day moving average price is $5.92 and its 200-day moving average price is $4.70.

Analyst Upgrades and Downgrades

Several brokerages have commented on PEPG. HC Wainwright boosted their price target on shares of PepGen from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Weiss Ratings restated a “sell (d-)” rating on shares of PepGen in a report on Thursday, January 22nd. Wall Street Zen raised PepGen from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Guggenheim increased their target price on PepGen from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Finally, Oppenheimer assumed coverage on shares of PepGen in a report on Wednesday, February 25th. They issued an “outperform” rating and a $15.00 target price for the company. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $12.60.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Burkehill Global Management LP acquired a new position in shares of PepGen in the 3rd quarter valued at about $46,000. Militia Capital Partners LP purchased a new position in shares of PepGen during the 3rd quarter valued at approximately $72,000. Trexquant Investment LP acquired a new stake in PepGen in the 4th quarter valued at $158,000. OMERS ADMINISTRATION Corp purchased a new stake in PepGen in the 4th quarter worth $180,000. Finally, Squarepoint Ops LLC acquired a new position in PepGen during the fourth quarter worth $203,000. 58.01% of the stock is currently owned by hedge funds and other institutional investors.

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).