PepGen (NASDAQ:PEPG) Trading Down 4.7% Following Insider Selling

PepGen Inc. (NASDAQ:PEPG) shares were down 4.7% on Thursday after an insider sold shares in the company. The stock traded as low as $16.13 and last traded at $16.13. Approximately 47,298 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 99,695 shares. The stock had previously closed at $16.92.

Specifically, SVP Niels Svenstrup sold 10,000 shares of PepGen stock in a transaction on Friday, May 17th. The shares were sold at an average price of $13.41, for a total value of $134,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Niels Svenstrup sold 10,000 shares of PepGen stock in a transaction on Friday, May 17th. The shares were sold at an average price of $13.41, for a total value of $134,100.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michelle L. Mellion sold 9,260 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $18.19, for a total transaction of $168,439.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,760 shares of company stock valued at $311,559. Insiders own 4.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wedbush reiterated an “outperform” rating and set a $20.00 target price on shares of PepGen in a report on Wednesday, May 15th. HC Wainwright restated a “buy” rating and set a $26.00 price objective on shares of PepGen in a research note on Wednesday, May 15th.

PepGen Trading Down 4.1 %

The company has a market capitalization of $526.18 million, a price-to-earnings ratio of -5.21 and a beta of 1.76. The stock’s 50 day moving average price is $14.82 and its 200 day moving average price is $12.36.

PepGen (NASDAQ:PEPG) last issued its earnings results on Tuesday, May 14th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $0.11. On average, research analysts expect that PepGen Inc. will post -2.87 earnings per share for the current year.

Institutional Investors Weigh In On PepGen

Several hedge funds have recently bought and sold shares of PEPG. RA Capital Management L.P. raised its holdings in PepGen by 31.5% in the 1st quarter. RA Capital Management L.P. now owns 10,689,545 shares of the company’s stock valued at $157,136,000 after acquiring an additional 2,557,593 shares during the period. Artal Group S.A. bought a new position in PepGen in the 1st quarter valued at about $2,940,000. Janus Henderson Group PLC raised its holdings in PepGen by 18.1% in the 1st quarter. Janus Henderson Group PLC now owns 1,166,642 shares of the company’s stock valued at $17,225,000 after acquiring an additional 178,438 shares during the period. Acadian Asset Management LLC bought a new position in PepGen in the 1st quarter valued at about $30,000. Finally, Vanguard Group Inc. raised its holdings in PepGen by 68.0% in the 1st quarter. Vanguard Group Inc. now owns 850,445 shares of the company’s stock valued at $12,502,000 after acquiring an additional 344,266 shares during the period. 58.01% of the stock is currently owned by institutional investors and hedge funds.

About PepGen

PepGen Inc, a clinical-stage biotechnology company, focuses on the development of oligonucleotide therapeutics for use in the treatment of severe neuromuscular and neurologic diseases. Its lead product candidate is PGN-EDO51, an EDO peptide that is in Phase 2 clinical trial to treat Duchenne muscular dystrophy (DMD) patients.