PepGen (NASDAQ:PEPG) Trading Down 0.4%

PepGen Inc. (NASDAQ:PEPG - Get Free Report)'s stock price dropped 0.4% during trading on Wednesday . The stock traded as low as $8.65 and last traded at $9.10. Approximately 246,463 shares changed hands during mid-day trading, an increase of 95% from the average daily volume of 126,467 shares. The stock had previously closed at $9.14.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PEPG. Wedbush reaffirmed an "outperform" rating and set a $20.00 price target on shares of PepGen in a report on Wednesday, July 31st. HC Wainwright reaffirmed a "buy" rating and issued a $26.00 target price on shares of PepGen in a report on Thursday, August 1st. Finally, Bank of America lowered PepGen from a "buy" rating to a "neutral" rating and set a $12.00 price target on the stock. in a research note on Wednesday, July 31st.

PepGen Stock Performance

The firm's fifty day moving average is $13.10 and its 200-day moving average is $13.95. The company has a market capitalization of $288.75 million, a P/E ratio of -2.80 and a beta of 1.71.

PepGen (NASDAQ:PEPG - Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported ($0.87) earnings per share for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.15). As a group, analysts expect that PepGen Inc. will post -3.16 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Michelle L. Mellion sold 5,901 shares of the firm's stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $18.00, for a total value of $106,218.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 39,182 shares of company stock valued at $710,169 in the last 90 days. Corporate insiders own 4.60% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. RA Capital Management L.P. lifted its position in shares of PepGen by 31.5% in the 1st quarter. RA Capital Management L.P. now owns 10,689,545 shares of the company's stock worth $157,136,000 after purchasing an additional 2,557,593 shares during the period. Vanguard Group Inc. raised its stake in PepGen by 68.0% during the first quarter. Vanguard Group Inc. now owns 850,445 shares of the company's stock worth $12,502,000 after buying an additional 344,266 shares during the last quarter. Artal Group S.A. acquired a new position in PepGen in the first quarter valued at $2,940,000. Janus Henderson Group PLC boosted its position in PepGen by 18.1% during the first quarter. Janus Henderson Group PLC now owns 1,166,642 shares of the company's stock valued at $17,225,000 after acquiring an additional 178,438 shares during the last quarter. Finally, Sofinnova Investments Inc. grew its holdings in PepGen by 11.4% during the 2nd quarter. Sofinnova Investments Inc. now owns 561,128 shares of the company's stock worth $8,956,000 after acquiring an additional 57,504 shares during the period. 58.01% of the stock is owned by institutional investors.

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.