PepGen (NASDAQ:PEPG) Announces Earnings Results

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

PepGen Stock Down 1.2%

PepGen stock traded down $0.02 during mid-day trading on Tuesday, hitting $1.68. 901,551 shares of the company’s stock traded hands, compared to its average volume of 1,204,750. The firm has a 50 day moving average price of $3.34 and a 200 day moving average price of $4.77. The company has a market cap of $116.21 million, a PE ratio of -0.70 and a beta of 2.01. PepGen has a one year low of $1.01 and a one year high of $7.80.

Wall Street Analyst Weigh In

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

Institutional Trading of PepGen

Several hedge funds have recently added to or reduced their stakes in PEPG. RA Capital Management L.P. raised its stake in PepGen by 87.7% during the 3rd quarter. RA Capital Management L.P. now owns 20,064,545 shares of the company’s stock valued at $92,698,000 after acquiring an additional 9,375,000 shares in the last quarter. Vivo Capital LLC acquired a new position in shares of PepGen during the 3rd quarter valued at $10,742,000. Viking Global Investors LP increased 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 purchasing an additional 2,000,000 shares during the period. Nantahala Capital Management LLC acquired a new position in shares of PepGen during the 4th quarter valued at $10,072,000. Finally, Deep Track Capital LP acquired a new position in shares of PepGen during the 3rd quarter valued at $5,544,000. Institutional investors own 58.01% of the company’s stock.

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).