Insider Selling: PepGen Inc. (NASDAQ:PEPG) Insider Sells $168,439.40 in Stock

PepGen Inc. (NASDAQ:PEPG) insider Michelle L. Mellion sold 9,260 shares of the company’s stock in a transaction that occurred 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 at this link.

Michelle L. Mellion also recently made the following trade(s):

• On Tuesday, June 11th, Michelle L. Mellion sold 500 shares of PepGen stock. The shares were sold at an average price of $18.04, for a total value of $9,020.00.

PepGen Price Performance

NASDAQ PEPG opened at $15.96 on Friday. The firm has a market cap of $517.38 million, a PE ratio of -4.91 and a beta of 1.76. PepGen Inc. has a one year low of $3.72 and a one year high of $18.72. The stock’s 50 day simple moving average is $15.02 and its 200 day simple moving average is $12.45.

PepGen (NASDAQ:PEPG) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.74) by $0.11. As a group, equities analysts expect that PepGen Inc. will post -2.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PEPG. HC Wainwright reiterated a “buy” rating and issued a $26.00 price objective on shares of PepGen in a research note on Wednesday, May 15th. Wedbush restated an “outperform” rating and set a $20.00 price target on shares of PepGen in a research report on Wednesday, May 15th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. RA Capital Management L.P. lifted its stake in shares of PepGen by 31.5% in the 1st quarter. RA Capital Management L.P. now owns 10,689,545 shares of the company’s stock valued at $157,136,000 after purchasing an additional 2,557,593 shares during the period. Vanguard Group Inc. increased its position in shares of 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 buying an additional 344,266 shares in the last quarter. Artal Group S.A. bought a new position in PepGen during the 1st quarter worth about $2,940,000. Janus Henderson Group PLC increased its holdings in PepGen by 18.1% during the 1st quarter. Janus Henderson Group PLC now owns 1,166,642 shares of the company’s stock worth $17,225,000 after purchasing an additional 178,438 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its holdings in 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 in the last quarter. Institutional investors and hedge funds own 58.01% of the company’s stock.

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.