PepGen (NASDAQ:PEPG) Trading Down 4.7% Following Insider Selling

Shares of PepGen Inc. (NASDAQ:PEPG) traded down 4.7% during mid-day trading on Thursday following insider selling activity. The company traded as low as $16.13 and last traded at $16.13. 47,298 shares were traded during trading, a decline of 53% from the average session volume of 99,695 shares. The stock had previously closed at $16.92.

Specifically, SVP Niels Svenstrup sold 10,000 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $13.41, for a total value of $134,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Michelle L. Mellion sold 9,260 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $18.19, for a total transaction of $168,439.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Niels Svenstrup sold 10,000 shares of the stock in a transaction that occurred on 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 worth $311,559 in the last quarter. Corporate insiders own 4.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on PEPG. Wedbush reissued an “outperform” rating and issued a $20.00 price target on shares of PepGen in a report on Wednesday, May 15th. HC Wainwright reiterated a “buy” rating and issued a $26.00 price target on shares of PepGen in a report on Wednesday, May 15th.

PepGen Stock Performance

The company’s fifty day moving average is $14.82 and its two-hundred day moving average is $12.36. The company has a market cap of $526.18 million, a price-to-earnings ratio of -5.21 and a beta of 1.76.

PepGen (NASDAQ:PEPG) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($0.63) EPS for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.11. On average, sell-side analysts anticipate that PepGen Inc. will post -2.87 EPS for the current fiscal year.

Institutional Investors Weigh In On PepGen

Hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new stake in shares of PepGen during the 1st quarter worth approximately $30,000. Artal Group S.A. acquired a new stake in shares of PepGen during the 1st quarter worth approximately $2,940,000. Adage Capital Partners GP L.L.C. grew its stake in shares of PepGen by 18.3% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 680,000 shares of the company’s stock worth $3,454,000 after purchasing an additional 105,000 shares during the period. Vanguard Group Inc. grew its stake in PepGen by 68.0% in the 1st quarter. Vanguard Group Inc. now owns 850,445 shares of the company’s stock valued at $12,502,000 after acquiring an additional 344,266 shares during the period. Finally, Janus Henderson Group PLC grew its stake in PepGen by 18.1% in the 1st quarter. Janus Henderson Group PLC now owns 1,166,642 shares of the company’s stock valued at $17,225,000 after acquiring an additional 178,438 shares during the period. Institutional investors and hedge funds own 58.01% of the company’s stock.

About PepGen

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.