Traders Purchase High Volume of Call Options on PepGen (NASDAQ:PEPG)

PepGen, Inc. (NASDAQ:PEPG) saw some unusual options trading on Wednesday. Investors bought 2,321 call options on the company. This represents an increase of 246% compared to the typical volume of 671 call options.

Wall Street Analyst Weigh In

PEPG has been the subject of several research reports. Wall Street Zen raised PepGen from a “sell” rating to a “hold” rating in a research report on Saturday, November 7th. HC Wainwright reissued a “buy” rating on shares of PepGen in a research note on Wednesday, September 9th. Bank of America upgraded shares of PepGen from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $2.50 to $6.00 in a report on Tuesday. Wedbush upped their target price on shares of PepGen from $4.00 to $10.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Weiss Ratings raised shares of PepGen from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, September 22nd. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.50.

Key PepGen News

Here’s some of the latest news about PEPG:

• Positive Sentiment: In the Phase 2 FREEDOM2-DM1 study, PGN-EDODM1 produced an average 46.5% splicing correction and improvements across functional measures at the 10 mg/kg dose. The results drew strong investor attention and helped drive the stock’s surge. PepGen Announces Positive Phase 2 FREEDOM2-DM1 Results
• Neutral Sentiment: PepGen reported $104.8 million in cash, which provides funding for development, and proposed a $125 million public stock offering that could add capital. PepGen reports trial results and cash position
• Negative Sentiment: The promising efficacy results came from only six treated patients, so they need confirmation in larger studies. The U.S. clinical hold also remains in place, limiting near-term progress with American patients. PepGen: Stock Soars on DM1 Data, But Caution Warranted

PepGen Trading Up 14.1%

NASDAQ:PEPG opened at $5.26 on Thursday. The firm has a market cap of $364.31 million, a PE ratio of -4.92 and a beta of 2.02. The stock has a fifty day moving average price of $2.74 and a 200 day moving average price of $2.98. PepGen has a 12-month low of $1.31 and a 12-month high of $7.80.

PepGen (NASDAQ:PEPG) last issued its quarterly earnings results on Tuesday, November 10th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Equities analysts forecast that PepGen will post -1.11 EPS for the current year.

Hedge Funds Weigh In On PepGen

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Rangeley Capital LLC increased its stake in shares of PepGen by 88.1% during the first quarter. Rangeley Capital LLC now owns 68,096 shares of the company’s stock worth $121,000 after buying an additional 31,896 shares during the period. Group One Trading LLC purchased a new position in PepGen in the first quarter worth approximately $77,000. Seven Fleet Capital Management LP acquired a new position in PepGen during the 1st quarter worth approximately $105,000. Dimensional Fund Advisors LP grew its holdings in PepGen by 60.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 216,824 shares of the company’s stock worth $394,000 after acquiring an additional 81,608 shares in the last quarter. Finally, Persistent Asset Partners Ltd acquired a new position in PepGen during the 2nd quarter worth approximately $171,000. 58.01% of the stock is owned by institutional investors and hedge funds.

About PepGen

PepGen Inc. is a clinical-stage biotechnology company developing genetic medicines for serious neuromuscular diseases. The company’s technology is designed to improve the delivery of oligonucleotide therapeutics into skeletal and cardiac muscle, with the goal of addressing diseases caused by genetic mutations or abnormal RNA processing. PepGen’s platform, known as Enhanced Delivery Oligonucleotides (EDO), combines therapeutic oligonucleotides with proprietary peptides intended to facilitate their distribution into muscle tissue.