PepGen (NASDAQ:PEPG) Sees Large Volume Increase

PepGen Inc. (NASDAQ:PEPG) saw an uptick in trading volume on Friday . 137,180 shares were traded during trading, an increase of 36% from the previous session’s volume of 100,572 shares.The stock last traded at $16.45 and had previously closed at $16.46.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $26.00 target price on shares of PepGen in a report on Wednesday, May 15th. Wedbush reissued an “outperform” rating and set a $20.00 price objective on shares of PepGen in a report on Wednesday, May 15th.

PepGen Stock Performance

The company’s 50 day simple moving average is $14.92 and its 200-day simple moving average is $12.39. The firm has a market capitalization of $517.42 million, a PE ratio of -5.06 and a beta of 1.76.

PepGen (NASDAQ:PEPG) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($0.74) by $0.11. On average, equities research analysts forecast that PepGen Inc. will post -2.87 earnings per share for the current fiscal year.

Insider Buying and Selling at PepGen

In other news, SVP Niels Svenstrup sold 10,000 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $13.41, for a total transaction of $134,100.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other PepGen news, insider Michelle L. Mellion sold 9,260 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $18.19, for a total value of $168,439.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Niels Svenstrup sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $13.41, for a total value of $134,100.00. The disclosure for this sale can be found here. Insiders have sold a total of 19,760 shares of company stock valued at $311,559 in the last 90 days. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On PepGen

Institutional investors have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. lifted its position in PepGen by 18.3% in the third quarter. Adage Capital Partners GP L.L.C. now owns 680,000 shares of the company’s stock valued at $3,454,000 after purchasing an additional 105,000 shares during the last quarter. Vanguard Group Inc. boosted its position in PepGen by 68.0% during the 1st quarter. Vanguard Group Inc. now owns 850,445 shares of the company’s stock valued at $12,502,000 after buying an additional 344,266 shares during the period. Acadian Asset Management LLC purchased a new stake in PepGen during the 1st quarter valued at $30,000. Janus Henderson Group PLC grew its holdings in PepGen by 18.1% in the 1st quarter. Janus Henderson Group PLC now owns 1,166,642 shares of the company’s stock worth $17,225,000 after acquiring an additional 178,438 shares during the last quarter. Finally, Artal Group S.A. purchased a new position in shares of PepGen in the first quarter valued at about $2,940,000. 58.01% of the stock is currently owned by hedge funds and other institutional investors.

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.