PepGen Inc. (NASDAQ:PEPG) Short Interest Update

PepGen Inc. (NASDAQ:PEPG) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 338,800 shares, a drop of 15.3% from the March 31st total of 400,200 shares. Approximately 1.3% of the company’s shares are sold short. Based on an average daily trading volume, of 134,600 shares, the short-interest ratio is currently 2.5 days.

Insider Activity

In related news, Director Ra Capital Management, L.P. acquired 2,557,593 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average cost of $10.64 per share, with a total value of $27,212,789.52. Following the completion of the purchase, the director now directly owns 9,179,273 shares in the company, valued at $97,667,464.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.97% of the company’s stock.

Institutional Trading of PepGen

A number of institutional investors have recently modified their holdings of PEPG. Allspring Global Investments Holdings LLC bought a new stake in shares of PepGen in the third quarter valued at about $33,000. Rathbones Group PLC bought a new stake in shares of PepGen in the third quarter valued at about $315,000. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in shares of PepGen by 18.3% in the third quarter. Adage Capital Partners GP L.L.C. now owns 680,000 shares of the company’s stock valued at $3,454,000 after purchasing an additional 105,000 shares in the last quarter. 58.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wedbush decreased their price objective on PepGen from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, March 7th.

PepGen Stock Up 5.1 %

Shares of PepGen stock opened at $12.28 on Wednesday. The business has a fifty day simple moving average of $13.52 and a 200 day simple moving average of $9.40. The stock has a market cap of $397.26 million, a PE ratio of -3.71 and a beta of 1.54. PepGen has a 12 month low of $3.72 and a 12 month high of $17.51.

PepGen (NASDAQ:PEPG) last posted its earnings results on Wednesday, March 6th. The company reported ($0.82) earnings per share for the quarter, topping the consensus estimate of ($1.01) by $0.19. Analysts expect that PepGen will post -2.88 EPS for the current fiscal year.

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.