PepGen (NASDAQ:PEPG) Announces Quarterly Earnings Results

PepGen (NASDAQ:PEPG) released its quarterly earnings data on Thursday. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.02, FiscalAI reports.

PepGen Price Performance

Shares of NASDAQ:PEPG traded up $0.44 on Friday, reaching $2.85. The company’s stock had a trading volume of 3,218,010 shares, compared to its average volume of 1,135,321. PepGen has a 52-week low of $1.01 and a 52-week high of $7.80. The stock has a market capitalization of $197.13 million, a P/E ratio of -2.18 and a beta of 1.89. The stock’s 50-day moving average is $1.86 and its two-hundred day moving average is $3.13.

Analyst Upgrades and Downgrades

PEPG has been the subject of several research reports. Craig Hallum started coverage on PepGen in a report on Tuesday, June 16th. They issued a “buy” rating and a $11.00 target price for the company. HC Wainwright restated a “buy” rating on shares of PepGen in a research note on Thursday, May 21st. Wedbush reduced their price objective on PepGen from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Weiss Ratings downgraded PepGen from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. Finally, Wall Street Zen upgraded shares of PepGen from a “sell” rating to a “hold” rating in a research report on Sunday, June 7th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.50.

Hedge Funds Weigh In On PepGen

Several institutional investors have recently added to or reduced their stakes in PEPG. Burkehill Global Management LP acquired a new position in PepGen in the 3rd quarter valued at $46,000. Militia Capital Partners LP acquired a new stake in shares of PepGen in the 3rd quarter worth $72,000. ADAR1 Capital Management LLC boosted its holdings in shares of PepGen by 81.0% in the third quarter. ADAR1 Capital Management LLC now owns 36,842 shares of the company’s stock valued at $170,000 after acquiring an additional 16,490 shares in the last quarter. Rangeley Capital LLC boosted its holdings in shares of PepGen by 133.3% in the second quarter. Rangeley Capital LLC now owns 35,000 shares of the company’s stock valued at $39,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in shares of PepGen during the fourth quarter worth about $158,000. Institutional investors and hedge funds own 58.01% of the company’s stock.

About PepGen

PepGen, Inc (NASDAQ: PEPG) is a clinical-stage biotechnology company headquartered in San Diego, California. The company is developing precision gene editing therapies to address rare genetic diseases by combining advanced prime editing modalities with proprietary delivery technologies. PepGen’s platform is designed to achieve targeted and durable correction of disease-causing mutations in vivo, with the goal of providing long-lasting therapeutic benefit after a single administration.

The company’s lead development programs include PPG-001 for mucopolysaccharidosis type II (Hunter syndrome) and PPG-002 for mucopolysaccharidosis type I (Hurler syndrome).