PepGen Inc. (NASDAQ:PEPG) Short Interest Update

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Bank of America lowered 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. HC Wainwright reiterated a “buy” rating and set a $16.00 target price on shares of PepGen in a research note on Monday, February 24th. Finally, Wedbush decreased their price target 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.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. RTW Investments LP acquired a new position in shares of PepGen during the 4th quarter worth approximately $12,102,000. Janus Henderson Group PLC increased its holdings in shares of PepGen by 331.2% in the third quarter. Janus Henderson Group PLC now owns 2,336,516 shares of the company’s stock valued at $20,012,000 after purchasing an additional 1,794,641 shares during the last quarter. Suvretta Capital Management LLC raised its position in shares of PepGen by 9.2% in the third 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 period. Northern Trust Corp lifted its stake in shares of PepGen by 5.4% during the 4th 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 boosted its holdings in shares of PepGen by 1,033.2% during the 4th quarter. Millennium Management LLC now owns 156,636 shares of the company’s stock worth $594,000 after buying an additional 142,814 shares during the period. 58.01% of the stock is currently owned by institutional investors and hedge funds.

PepGen Trading Down 10.2 %

PepGen stock traded down $0.27 during mid-day trading on Thursday, hitting $2.37. The stock had a trading volume of 584,136 shares, compared to its average volume of 774,048. PepGen has a 12 month low of $1.16 and a 12 month high of $19.30. The stock has a 50-day simple moving average of $2.28 and a two-hundred day simple moving average of $5.54. The stock has a market capitalization of $77.48 million, a PE ratio of -0.80 and a beta of 1.53.

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

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.