PepGen (NASDAQ:PEPG) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

PepGen (NASDAQ:PEPG) issued its quarterly earnings data on Tuesday. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.05, FiscalAI reports.

PepGen Stock Performance

NASDAQ PEPG traded down $0.02 during trading hours on Tuesday, hitting $1.68. 901,551 shares of the company’s stock were exchanged, compared to its average volume of 1,204,750. The business’s 50 day moving average is $3.34 and its 200-day moving average is $4.77. PepGen has a 12-month low of $1.01 and a 12-month high of $7.80. The firm has a market capitalization of $116.21 million, a P/E ratio of -0.70 and a beta of 2.01.

Institutional Investors Weigh In On PepGen

Several hedge funds have recently modified their holdings of PEPG. AQR Capital Management LLC purchased a new stake in shares of PepGen during the 1st quarter valued at about $122,000. Woodline Partners LP purchased a new stake in shares of PepGen during the 1st quarter valued at about $1,097,000. Marshall Wace LLP purchased a new stake in shares of PepGen during the 2nd quarter valued at about $44,000. Qube Research & Technologies Ltd purchased a new stake in shares of PepGen during the 2nd quarter valued at about $81,000. Finally, Bridgeway Capital Management LLC raised its holdings in shares of PepGen by 61.5% during the 2nd quarter. Bridgeway Capital Management LLC now owns 91,923 shares of the company’s stock valued at $102,000 after buying an additional 35,000 shares during the period. 58.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PEPG has been the topic of several recent research reports. Guggenheim upped their price objective on PepGen from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of PepGen in a research report on Tuesday, April 21st. Oppenheimer started coverage on PepGen in a research report on Wednesday, February 25th. They set an “outperform” rating and a $15.00 target price on the stock. Finally, Wedbush reduced their target price on PepGen from $9.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 31st. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.80.

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).