PepGen Inc. (NASDAQ:PEPG – Get Free Report) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 939,900 shares, a growth of 16.2% from the August 15th total of 808,900 shares. Based on an average daily volume of 169,700 shares, the short-interest ratio is currently 5.5 days. Currently, 3.7% of the company’s shares are sold short.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on PEPG. HC Wainwright reiterated a “buy” rating and issued a $26.00 price objective on shares of PepGen in a research report on Thursday, August 1st. Bank of America cut shares of PepGen from a “buy” rating to a “neutral” rating and set a $12.00 price target for the company. in a report on Wednesday, July 31st. Finally, Wedbush restated an “outperform” rating and set a $20.00 price objective on shares of PepGen in a report on Wednesday, July 31st.
PepGen Price Performance
PepGen (NASDAQ:PEPG – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.15). As a group, equities research analysts expect that PepGen will post -3.16 earnings per share for the current fiscal year.
Insider Transactions at PepGen
In other news, insider Michelle L. Mellion sold 7,571 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $18.06, for a total transaction of $136,732.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 38,682 shares of company stock worth $701,149 in the last three months. Insiders own 4.60% of the company’s stock.
Institutional Investors Weigh In On PepGen
A number of institutional investors and hedge funds have recently modified their holdings of PEPG. Vanguard Group Inc. boosted 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 purchasing an additional 344,266 shares during the period. Acadian Asset Management LLC bought a new stake in PepGen during the 1st quarter worth approximately $30,000. Janus Henderson Group PLC increased its holdings in PepGen by 18.1% in the first quarter. Janus Henderson Group PLC now owns 1,166,642 shares of the company’s stock valued at $17,225,000 after purchasing an additional 178,438 shares during the period. Artal Group S.A. acquired a new stake in shares of PepGen in the first quarter valued at about $2,940,000. Finally, RA Capital Management L.P. increased its position in shares of PepGen by 31.5% during the first quarter. RA Capital Management L.P. now owns 10,689,545 shares of the company’s stock worth $157,136,000 after buying an additional 2,557,593 shares during the period. 58.01% of the stock is owned by 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.
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