PepGen (NASDAQ:PEPG) Trading 5.1% Higher

PepGen Inc. (NASDAQ:PEPG) shares traded up 5.1% during mid-day trading on Monday . The company traded as high as $17.00 and last traded at $16.77. 14,512 shares were traded during mid-day trading, a decline of 87% from the average session volume of 109,624 shares. The stock had previously closed at $15.96.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. HC Wainwright reissued a “buy” rating and set a $26.00 price objective on shares of PepGen in a research report on Wednesday, May 15th. Wedbush reissued an “outperform” rating and set a $20.00 price objective on shares of PepGen in a research report on Wednesday, May 15th.

PepGen Trading Down 8.9 %

The business has a fifty day moving average of $15.25 and a 200 day moving average of $12.67.

PepGen (NASDAQ:PEPG) last announced its earnings results on Tuesday, May 14th. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.11. As a group, equities analysts anticipate that PepGen Inc. will post -2.87 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Michelle L. Mellion sold 9,260 shares of PepGen stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $18.19, for a total value of $168,439.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Michelle L. Mellion sold 9,260 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $18.19, for a total transaction of $168,439.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Niels Svenstrup sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $13.41, for a total value of $134,100.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,760 shares of company stock worth $311,559. 4.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PEPG. Acadian Asset Management LLC acquired a new position in shares of PepGen in the first quarter valued at approximately $30,000. Artal Group S.A. acquired a new position in PepGen during the first quarter worth $2,940,000. Adage Capital Partners GP L.L.C. grew its holdings in PepGen by 18.3% during the third quarter. Adage Capital Partners GP L.L.C. now owns 680,000 shares of the company’s stock worth $3,454,000 after acquiring an additional 105,000 shares during the period. Vanguard Group Inc. grew its holdings 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 acquiring an additional 344,266 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in PepGen by 18.1% during the first quarter. Janus Henderson Group PLC now owns 1,166,642 shares of the company’s stock worth $17,225,000 after acquiring an additional 178,438 shares during the period. Institutional investors and hedge funds own 58.01% of the company’s stock.

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.