PepGen (NASDAQ:PEPG) Shares Up 8.1%

PepGen Inc. (NASDAQ:PEPG) shares shot up 8.1% during trading on Monday . The stock traded as high as $11.44 and last traded at $11.39. 69,409 shares were traded during mid-day trading, a decline of 41% from the average session volume of 117,857 shares. The stock had previously closed at $10.54.

Analyst Ratings Changes

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

PepGen Trading Up 0.9 %

The firm has a fifty day simple moving average of $13.68 and a 200-day simple moving average of $9.18. The stock has a market cap of $382.70 million, a price-to-earnings ratio of -3.57 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 (EPS) for the quarter, topping the consensus estimate of ($1.01) by $0.19. On average, equities analysts predict that PepGen Inc. will post -2.88 earnings per share for the current fiscal year.

Insider Buying and Selling at PepGen

In other PepGen news, Director Ra Capital Management, L.P. bought 2,557,593 shares of the company’s stock in a transaction on Friday, February 9th. The stock was bought at an average price of $10.64 per share, for a total transaction of $27,212,789.52. Following the transaction, the director now owns 9,179,273 shares of the company’s stock, valued at approximately $97,667,464.72. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.97% of the company’s stock.

Institutional Trading of PepGen

Large investors have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. boosted its stake in PepGen by 18.3% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 680,000 shares of the company’s stock worth $3,454,000 after purchasing an additional 105,000 shares during the period. Rathbones Group PLC acquired a new position in PepGen in the 3rd quarter worth $315,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in PepGen in the 3rd quarter worth $33,000. 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.