PepGen (NASDAQ:PEPG) Issues Earnings Results

PepGen (NASDAQ:PEPG) issued its quarterly earnings results 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 PEPG stock traded up $0.44 on Friday, hitting $2.85. The stock had a trading volume of 3,218,010 shares, compared to its average volume of 1,135,321. PepGen has a 12-month low of $1.01 and a 12-month high of $7.80. The stock has a market cap of $197.13 million, a price-to-earnings ratio of -2.18 and a beta of 1.89. The business has a 50 day moving average of $1.86 and a 200 day moving average of $3.13.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Wedbush reduced their target price on PepGen from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. HC Wainwright reiterated a “buy” rating on shares of PepGen in a report on Thursday, May 21st. Craig Hallum started coverage on PepGen in a research note on Tuesday, June 16th. They issued a “buy” rating and a $11.00 price objective for the company. 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 raised PepGen from a “sell” rating to a “hold” rating in a research report on Sunday, June 7th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.50.

Hedge Funds Weigh In On PepGen

A number of hedge funds and other institutional investors have recently made changes to their positions in PEPG. RA Capital Management L.P. lifted its stake in PepGen by 87.7% in the third quarter. RA Capital Management L.P. now owns 20,064,545 shares of the company’s stock valued at $92,698,000 after purchasing an additional 9,375,000 shares during the last quarter. Vivo Capital LLC bought a new stake in shares of PepGen in the third quarter valued at $10,742,000. Viking Global Investors LP lifted its position in shares of PepGen by 134.9% during the 3rd quarter. Viking Global Investors LP now owns 3,482,434 shares of the company’s stock valued at $16,089,000 after buying an additional 2,000,000 shares during the last quarter. Nantahala Capital Management LLC bought a new position in shares of PepGen during the 4th quarter worth $10,072,000. Finally, TCG Crossover Management LLC bought a new position in shares of PepGen during the 3rd quarter worth $5,544,000. 58.01% of the stock is owned by hedge funds and other institutional investors.

PepGen Company Profile

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).