PepGen Inc. (NASDAQ:PEPG) Short Interest Up 26.2% in February

PepGen Inc. (NASDAQ:PEPG) was the target of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 852,600 shares, an increase of 26.2% from the January 31st total of 675,600 shares. Based on an average trading volume of 2,050,000 shares, the short-interest ratio is currently 0.4 days. Approximately 3.1% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PEPG. HC Wainwright restated a “buy” rating and set a $16.00 price target on shares of PepGen in a report on Monday, February 24th. Bank of America downgraded PepGen from a “neutral” rating to an “underperform” rating and set a $3.00 target price for the company. in a report on Monday, December 16th. Finally, Wedbush reduced their price objective on shares of PepGen from $19.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th.

PepGen Trading Down 2.9 %

Shares of PEPG stock traded down $0.07 during midday trading on Friday, reaching $2.35. 57,957 shares of the stock were exchanged, compared to its average volume of 775,097. The firm has a market cap of $76.83 million, a PE ratio of -0.79 and a beta of 0.98. The company’s 50 day moving average is $2.25 and its two-hundred day moving average is $5.52. PepGen has a 1 year low of $1.16 and a 1 year high of $19.30.

PepGen (NASDAQ:PEPG) last posted its quarterly earnings results on Monday, February 24th. The company reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($0.81) by $0.13. As a group, equities analysts expect that PepGen will post -2.73 EPS for the current fiscal year.

Institutional Trading of PepGen

Institutional investors have recently added to or reduced their stakes in the business. RTW Investments LP bought a new stake in PepGen in the 4th quarter worth approximately $12,102,000. Janus Henderson Group PLC boosted its position in PepGen by 331.2% in the third quarter. Janus Henderson Group PLC now owns 2,336,516 shares of the company’s stock worth $20,012,000 after purchasing an additional 1,794,641 shares during the last quarter. Suvretta Capital Management LLC increased its position in shares of PepGen by 9.2% during the 3rd quarter. Suvretta Capital Management LLC now owns 1,660,932 shares of the company’s stock valued at $14,201,000 after purchasing an additional 140,000 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of PepGen by 5.4% in the fourth quarter. Northern Trust Corp now owns 157,038 shares of the company’s stock worth $595,000 after buying an additional 7,984 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in PepGen by 1,033.2% during the fourth quarter. Millennium Management LLC now owns 156,636 shares of the company’s stock valued at $594,000 after buying an additional 142,814 shares during the last quarter. 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.