PepGen Inc. (NASDAQ:PEPG) Short Interest Update

PepGen Inc. (NASDAQ:PEPG) was the recipient of a large increase in short interest in 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. Currently, 3.1% of the company’s shares are short sold. Based on an average daily trading volume, of 2,050,000 shares, the short-interest ratio is currently 0.4 days.

Hedge Funds Weigh In On PepGen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PEPG. China Universal Asset Management Co. Ltd. bought a new stake in PepGen in the fourth quarter valued at about $26,000. Corton Capital Inc. acquired a new position in PepGen during the 4th quarter valued at about $68,000. Allspring Global Investments Holdings LLC acquired a new position in PepGen during the 3rd quarter worth $95,000. XTX Topco Ltd bought a new position in PepGen in the 3rd quarter valued at about $130,000. Finally, Deutsche Bank AG boosted its holdings in shares of PepGen by 442.5% in the fourth quarter. Deutsche Bank AG now owns 44,735 shares of the company’s stock valued at $170,000 after acquiring an additional 36,489 shares in the last quarter. 58.01% of the stock is owned by hedge funds and other institutional investors.

PepGen Stock Performance

NASDAQ:PEPG traded down $0.27 during mid-day trading on Thursday, hitting $2.37. 584,136 shares of the company’s stock traded hands, compared to its average volume of 774,048. PepGen has a 1 year low of $1.16 and a 1 year high of $19.30. The company has a market cap of $77.48 million, a PE ratio of -0.80 and a beta of 1.53. The firm’s 50 day simple moving average is $2.28 and its 200 day simple moving average is $5.54.

PepGen (NASDAQ:PEPG) last announced its 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. On average, research analysts expect that PepGen will post -2.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.