PepGen (NASDAQ:PEPG) Issues Earnings Results, Beats Expectations By $0.11 EPS

PepGen (NASDAQ:PEPG) posted its quarterly earnings results on Wednesday. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.11, FiscalAI reports.

PepGen Price Performance

PepGen stock traded up $0.34 during mid-day trading on Wednesday, reaching $6.76. The stock had a trading volume of 687,487 shares, compared to its average volume of 672,839. PepGen has a one year low of $0.88 and a one year high of $7.80. The company has a 50-day moving average price of $5.90 and a two-hundred day moving average price of $4.68. The company has a market capitalization of $464.74 million, a price-to-earnings ratio of -2.40 and a beta of 1.87.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On PepGen

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

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).