PepGen (NASDAQ:PEPG) Stock Price Down 0.4%

PepGen Inc. (NASDAQ:PEPG) shares were down 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.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and set a $20.00 target price on shares of PepGen in a research note on Wednesday, July 31st. Bank of America cut shares of PepGen from a “buy” rating to a “neutral” rating and set a $12.00 price objective for the company. in a research report on Wednesday, July 31st. Finally, HC Wainwright reiterated a “buy” rating and issued a $26.00 target price on shares of PepGen in a research report on Thursday, August 1st.

PepGen Price Performance

The firm has a market cap of $287.77 million, a price-to-earnings ratio of -2.73 and a beta of 1.71. The business has a fifty day simple moving average of $12.94 and a 200 day simple moving average of $13.91.

PepGen (NASDAQ:PEPG) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.15). On average, research analysts anticipate that PepGen Inc. will post -3.16 earnings per share for the current fiscal year.

Insider Transactions at PepGen

In other PepGen news, insider Michelle L. Mellion sold 7,571 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $18.06, for a total value of $136,732.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 39,182 shares of company stock valued at $710,169 over the last 90 days. 4.60% of the stock is currently owned by corporate insiders.

Institutional Trading of PepGen

Large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new position in shares of PepGen during the 1st quarter worth $30,000. Point72 DIFC Ltd acquired a new stake in PepGen during the second quarter worth about $42,000. Renaissance Technologies LLC purchased a new position in PepGen during the second quarter worth about $192,000. Marshall Wace LLP acquired a new position in PepGen in the 2nd quarter valued at about $196,000. Finally, Rhumbline Advisers grew its stake in shares of PepGen by 36.1% in the 2nd quarter. Rhumbline Advisers now owns 18,853 shares of the company’s stock valued at $301,000 after buying an additional 5,002 shares during the period. 58.01% of the stock is currently owned by hedge funds and other institutional investors.

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.