PepGen (NASDAQ:PEPG) Announces Earnings Results, Beats Estimates By $0.05 EPS

PepGen (NASDAQ:PEPG) released its quarterly earnings results on Tuesday. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.05, FiscalAI reports.

PepGen Stock Performance

Shares of NASDAQ:PEPG traded down $0.13 during trading on Thursday, reaching $1.66. 720,859 shares of the stock traded hands, compared to its average volume of 1,201,698. PepGen has a 52-week low of $1.01 and a 52-week high of $7.80. The stock has a 50-day moving average of $3.16 and a two-hundred day moving average of $4.73. The stock has a market cap of $114.48 million, a P/E ratio of -0.95 and a beta of 2.01.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Oppenheimer assumed coverage on shares of PepGen in a research note on Wednesday, February 25th. They set an “outperform” rating and a $15.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PepGen in a research note on Tuesday, April 21st. Guggenheim raised their target price on shares of PepGen from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Finally, Wedbush decreased their target price on shares of PepGen from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Wednesday. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.60.

Institutional Investors Weigh In On PepGen

Several institutional investors and hedge funds have recently added to or reduced their stakes in PEPG. AQR Capital Management LLC purchased a new stake in PepGen in the first quarter worth approximately $122,000. Woodline Partners LP purchased a new stake in PepGen in the first quarter worth approximately $1,097,000. Marshall Wace LLP purchased a new stake in PepGen in the second quarter worth approximately $44,000. Qube Research & Technologies Ltd purchased a new stake in PepGen in the second quarter worth approximately $81,000. Finally, Bridgeway Capital Management LLC boosted its holdings in PepGen by 61.5% in the second quarter. Bridgeway Capital Management LLC now owns 91,923 shares of the company’s stock worth $102,000 after purchasing an additional 35,000 shares during the last quarter. Hedge funds and other institutional investors own 58.01% of the company’s stock.

About PepGen

PepGen, Inc (NASDAQ: PEPG) is a clinical-stage biotechnology company headquartered in San Diego, California. The company is developing precision gene editing therapies to address rare genetic diseases by combining advanced prime editing modalities with proprietary delivery technologies. PepGen’s platform is designed to achieve targeted and durable correction of disease-causing mutations in vivo, with the goal of providing long-lasting therapeutic benefit after a single administration.

The company’s lead development programs include PPG-001 for mucopolysaccharidosis type II (Hunter syndrome) and PPG-002 for mucopolysaccharidosis type I (Hurler syndrome).