PepGen Inc. (NASDAQ:PEPG) Short Interest Down 14.1% in December

PepGen Inc. (NASDAQ:PEPG - Get Free Report) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 694,200 shares, a drop of 14.1% from the December 15th total of 808,100 shares. Based on an average trading volume of 159,500 shares, the days-to-cover ratio is presently 4.4 days. Currently, 2.6% of the shares of the company are sold short.

PepGen Stock Down 6.9 %

PEPG traded down $0.18 during trading on Thursday, reaching $2.42. The stock had a trading volume of 206,354 shares, compared to its average volume of 131,725. PepGen has a 1-year low of $2.40 and a 1-year high of $19.30. The firm has a market capitalization of $78.89 million, a price-to-earnings ratio of -0.81 and a beta of 1.66. The stock has a 50 day moving average of $4.40 and a two-hundred day moving average of $8.59.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Janus Henderson Group PLC lifted its holdings in PepGen by 331.2% in the 3rd quarter. Janus Henderson Group PLC now owns 2,336,516 shares of the company's stock valued at $20,012,000 after acquiring an additional 1,794,641 shares during the last quarter. Suvretta Capital Management LLC raised its holdings in shares of PepGen by 9.2% in the 3rd quarter. Suvretta Capital Management LLC now owns 1,660,932 shares of the company's stock worth $14,201,000 after purchasing an additional 140,000 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of PepGen in the 3rd quarter worth approximately $519,000. JPMorgan Chase & Co. lifted its stake in 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 purchasing an additional 19,786 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in PepGen by 76.9% during the third quarter. Wellington Management Group LLP now owns 40,517 shares of the company's stock worth $346,000 after buying an additional 17,618 shares in the last quarter. Institutional investors own 58.01% of the company's stock.

Wall Street Analyst Weigh In

PEPG has been the topic of several recent analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $26.00 target price on shares of PepGen in a research note on Friday, November 8th. Wedbush cut their price objective on shares of PepGen from $19.00 to $12.00 and set an "outperform" rating on the stock in a research note 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 target price for the company. in a research report on Monday, December 16th.

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.

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