PepGen Inc. (NASDAQ:PEPG) Short Interest Update

PepGen Inc. (NASDAQ:PEPG) saw a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 338,800 shares, a decline of 15.3% from the March 31st total of 400,200 shares. Based on an average daily volume of 134,600 shares, the days-to-cover ratio is presently 2.5 days. Approximately 1.3% of the company’s shares are sold short.

PepGen Trading Up 5.1 %

PepGen stock opened at $12.28 on Wednesday. PepGen has a twelve month low of $3.72 and a twelve month high of $17.51. The stock’s fifty day simple moving average is $13.52 and its 200-day simple moving average is $9.40. The firm has a market capitalization of $397.26 million, a P/E ratio of -3.71 and a beta of 1.54.

PepGen (NASDAQ:PEPG) last posted its quarterly earnings data on Wednesday, March 6th. The company reported ($0.82) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.01) by $0.19. Sell-side analysts predict that PepGen will post -2.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Wedbush cut their target price on PepGen from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th.

Insider Buying and Selling at PepGen

In other news, Director Ra Capital Management, L.P. bought 2,557,593 shares of the business’s stock in a transaction on Friday, February 9th. The shares were bought at an average price of $10.64 per share, with a total value of $27,212,789.52. Following the completion of the transaction, the director now directly owns 9,179,273 shares in the company, valued at $97,667,464.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.97% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PepGen

Several large investors have recently bought and sold shares of PEPG. Allspring Global Investments Holdings LLC purchased a new position in PepGen in the third quarter valued at $33,000. Rathbones Group PLC acquired a new position in PepGen in the third quarter valued at $315,000. Finally, Adage Capital Partners GP L.L.C. boosted its stake in PepGen by 18.3% in the third quarter. Adage Capital Partners GP L.L.C. now owns 680,000 shares of the company’s stock valued at $3,454,000 after acquiring an additional 105,000 shares in the last quarter. Hedge funds and other institutional investors own 58.01% of the company’s stock.

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.