PepGen’s (PEPG) Outperform Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of PepGen (NASDAQ:PEPG) in a report published on Wednesday morning, Benzinga reports. Wedbush currently has a $20.00 target price on the stock.

PEPG has been the topic of a number of other research reports. Bank of America cut shares of PepGen from a buy rating to a neutral rating and set a $12.00 price objective on the stock. in a research report on Wednesday. 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.

PepGen Trading Down 32.7 %

Shares of PepGen stock opened at $11.43 on Wednesday. The business has a 50-day moving average price of $16.75 and a two-hundred day moving average price of $14.08. PepGen has a 1-year low of $3.72 and a 1-year high of $19.30.

PepGen (NASDAQ:PEPG) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.11. On average, sell-side analysts forecast that PepGen will post -2.87 earnings per share for the current year.

Insider Transactions at PepGen

In related news, SVP Niels Svenstrup sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $13.41, for a total value of $134,100.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Niels Svenstrup sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $13.41, for a total value of $134,100.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michelle L. Mellion sold 5,901 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $18.00, for a total transaction of $106,218.00. The disclosure for this sale can be found here. Insiders have sold 49,182 shares of company stock valued at $844,269 in the last 90 days. 4.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PepGen

Large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC bought a new position in PepGen in the 1st quarter valued at about $30,000. Bank of New York Mellon Corp lifted its position in shares of PepGen by 43.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 44,157 shares of the company’s stock worth $705,000 after buying an additional 13,397 shares in the last quarter. Artal Group S.A. bought a new position in shares of PepGen during the 1st quarter worth approximately $2,940,000. Vanguard Group Inc. lifted its position in shares of PepGen by 68.0% during the 1st 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 in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of PepGen by 18.1% during the 1st quarter. Janus Henderson Group PLC now owns 1,166,642 shares of the company’s stock worth $17,225,000 after buying an additional 178,438 shares in the last quarter. Institutional investors 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.