PepGen Inc. (NASDAQ:PEPG) Sees Large Growth in Short Interest

PepGen Inc. (NASDAQ:PEPG) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 576,800 shares, a growth of 51.6% from the June 30th total of 380,500 shares. Currently, 2.3% of the shares of the stock are short sold. Based on an average daily volume of 95,200 shares, the days-to-cover ratio is currently 6.1 days.

PepGen Trading Down 5.6 %

Shares of PEPG traded down $1.04 during trading hours on Monday, reaching $17.51. 134,152 shares of the stock traded hands, compared to its average volume of 108,108. PepGen has a 52 week low of $3.72 and a 52 week high of $19.30. The company has a market cap of $567.67 million, a price-to-earnings ratio of -5.39 and a beta of 1.73. The stock has a fifty day simple moving average of $16.74 and a 200 day simple moving average of $14.03.

PepGen (NASDAQ:PEPG) last announced its earnings results on Tuesday, May 14th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.11. Analysts predict that PepGen will post -2.87 earnings per share for the current fiscal year.

Insider Activity at PepGen

In related news, insider Michelle L. Mellion sold 9,260 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $18.19, for a total transaction of $168,439.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Michelle L. Mellion sold 9,260 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $18.19, for a total value of $168,439.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Niels Svenstrup sold 10,000 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $13.41, for a total value of $134,100.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,182 shares of company stock valued at $844,269. 4.60% of the stock is owned by insiders.

Institutional Investors Weigh In On PepGen

Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its position in shares of PepGen by 43.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 44,157 shares of the company’s stock valued at $705,000 after acquiring an additional 13,397 shares during the period. RA Capital Management L.P. grew its stake in shares of PepGen by 31.5% during the 1st quarter. RA Capital Management L.P. now owns 10,689,545 shares of the company’s stock worth $157,136,000 after acquiring an additional 2,557,593 shares during the period. Artal Group S.A. bought a new position in shares of PepGen during the 1st quarter worth $2,940,000. Janus Henderson Group PLC raised its stake 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. Finally, Acadian Asset Management LLC purchased a new stake in PepGen during the first quarter valued at about $30,000. 58.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.