PepGen (NASDAQ:PEPG) Posts Earnings Results, Beats Expectations By $0.11 EPS

PepGen (NASDAQ:PEPG) posted its quarterly earnings results on Wednesday. The company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.11, Zacks reports.

PepGen Price Performance

NASDAQ PEPG opened at $5.13 on Thursday. PepGen has a 12 month low of $0.88 and a 12 month high of $6.85. The firm’s fifty day moving average price is $3.87 and its 200 day moving average price is $2.24. The company has a market capitalization of $168.26 million, a price-to-earnings ratio of -1.73 and a beta of 1.95.

Wall Street Analysts Forecast Growth

PEPG has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of PepGen in a research report on Wednesday, October 8th. Stifel Nicolaus raised their target price on PepGen from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, September 25th. Wedbush raised their price objective on PepGen from $7.00 to $9.00 and gave the company an “outperform” rating in a report on Thursday, September 25th. Guggenheim reaffirmed a “buy” rating and set a $6.00 target price on shares of PepGen in a report on Wednesday, September 24th. Finally, HC Wainwright raised their target price on shares of PepGen from $12.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Four equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $9.60.

Insider Transactions at PepGen

In other PepGen news, major shareholder Science Enterprises Plc Oxford purchased 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were purchased at an average cost of $3.20 per share, for a total transaction of $640,000.00. Following the completion of the purchase, the insider directly owned 4,955,388 shares in the company, valued at $15,857,241.60. This represents a 4.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in PepGen by 88.7% during the third quarter. Vanguard Group Inc. now owns 1,768,356 shares of the company’s stock valued at $8,170,000 after acquiring an additional 831,333 shares during the period. Woodline Partners LP purchased a new position in PepGen in the 1st quarter valued at about $1,097,000. AQR Capital Management LLC acquired a new position in shares of PepGen in the 1st quarter valued at approximately $122,000. Qube Research & Technologies Ltd acquired a new stake in shares of PepGen in the 2nd quarter valued at about $81,000. Finally, Marshall Wace LLP acquired a new stake in PepGen during the second quarter worth about $44,000. Hedge funds and other 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.