Short Interest in PepGen Inc. (NASDAQ:PEPG) Decreases By 15.3%

PepGen Inc. (NASDAQ:PEPG) saw a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 338,800 shares, a decrease of 15.3% from the March 31st total of 400,200 shares. Approximately 1.3% of the shares of the stock are sold short. Based on an average daily volume of 134,600 shares, the days-to-cover ratio is presently 2.5 days.

Analysts Set New Price Targets

Separately, Wedbush cut their target price on shares of PepGen from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, March 7th.

Insider Buying and Selling

In other PepGen news, Director Ra Capital Management, L.P. acquired 2,557,593 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $10.64 per share, for a total transaction of $27,212,789.52. Following the completion of the transaction, the director now directly owns 9,179,273 shares of the company’s stock, valued at $97,667,464.72. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.97% of the stock is currently owned by insiders.

Institutional Trading of PepGen

Large investors have recently bought and sold shares of the business. Rathbones Group PLC acquired a new position in shares of PepGen during the 3rd quarter worth approximately $315,000. Adage Capital Partners GP L.L.C. boosted its stake in PepGen by 18.3% during the third quarter. Adage Capital Partners GP L.L.C. now owns 680,000 shares of the company’s stock worth $3,454,000 after buying an additional 105,000 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in PepGen in the 3rd quarter valued at $33,000. Hedge funds and other institutional investors own 58.01% of the company’s stock.

PepGen Stock Performance

Shares of NASDAQ:PEPG traded up $0.60 during trading on Tuesday, reaching $12.28. The stock had a trading volume of 36,239 shares, compared to its average volume of 111,849. The business has a fifty day moving average price of $13.55 and a 200-day moving average price of $9.35. PepGen has a 1-year low of $3.72 and a 1-year high of $17.51. The stock has a market cap of $397.26 million, a PE ratio of -3.73 and a beta of 1.54.

PepGen (NASDAQ:PEPG) last released its earnings results on Wednesday, March 6th. The company reported ($0.82) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.01) by $0.19. Sell-side analysts expect that PepGen will post -2.88 earnings per share for the current year.

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.