Insider Buying: PepGen Inc. (NASDAQ:PEPG) CEO Purchases $47,725.00 in Stock

PepGen Inc. (NASDAQ:PEPG) CEO James G. Mcarthur purchased 41,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 8th. The stock was acquired at an average price of $1.15 per share, for a total transaction of $47,725.00. Following the completion of the purchase, the chief executive officer now owns 103,913 shares of the company’s stock, valued at approximately $119,499.95. This represents a 66.49 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

PepGen Stock Down 3.4 %

Shares of PEPG stock opened at $1.13 on Friday. PepGen Inc. has a fifty-two week low of $0.88 and a fifty-two week high of $19.30. The business has a fifty day simple moving average of $1.69 and a 200-day simple moving average of $4.04. The stock has a market cap of $36.94 million, a P/E ratio of -0.38 and a beta of 1.42.

PepGen (NASDAQ:PEPG) last posted 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, sell-side analysts anticipate that PepGen Inc. will post -2.73 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Jane Street Group LLC grew its holdings in PepGen by 29.1% during the 3rd quarter. Jane Street Group LLC now owns 27,748 shares of the company’s stock valued at $237,000 after buying an additional 6,254 shares during the last quarter. Barclays PLC lifted its position in shares of PepGen by 318.7% in the third quarter. Barclays PLC now owns 21,971 shares of the company’s stock valued at $189,000 after acquiring an additional 16,723 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of PepGen by 289.9% during the third quarter. JPMorgan Chase & Co. now owns 26,611 shares of the company’s stock valued at $228,000 after acquiring an additional 19,786 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of PepGen by 76.9% during the third quarter. Wellington Management Group LLP now owns 40,517 shares of the company’s stock valued at $346,000 after acquiring an additional 17,618 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in PepGen during the 3rd quarter worth about $130,000. 58.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PEPG has been the subject of a number of recent analyst reports. 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. HC Wainwright reiterated a “buy” rating and set a $16.00 price target on shares of PepGen in a research report on Monday, February 24th.

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.