PepGen (NASDAQ:PEPG) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

by · The Cerbat Gem

PepGen (NASDAQ:PEPG – Get Free Report) released its earnings results on Thursday. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.02, FiscalAI reports.

PepGen Stock Performance

PEPG stock traded up $0.44 during midday trading on Friday, reaching $2.85. 3,218,010 shares of the company’s stock traded hands, compared to its average volume of 1,135,321. The firm has a market capitalization of $197.13 million, a PE ratio of -2.18 and a beta of 1.89. The company has a 50-day moving average price of $1.86 and a two-hundred day moving average price of $3.13. PepGen has a 52 week low of $1.01 and a 52 week high of $7.80.

Wall Street Analyst Weigh In

PEPG has been the topic of several research reports. Wedbush lowered their price objective on shares of PepGen from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. HC Wainwright reaffirmed a “buy” rating on shares of PepGen in a report on Thursday, May 21st. Wall Street Zen upgraded PepGen from a “sell” rating to a “hold” rating in a research note on Sunday, June 7th. Weiss Ratings downgraded PepGen from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. Finally, Craig Hallum started coverage on PepGen in a research note on Tuesday, June 16th. They issued a “buy” rating and a $11.00 target price on the stock. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, PepGen currently has an average rating of “Moderate Buy” and an average target price of $11.50.

Get Our Latest Report on PepGen

Institutional Trading of PepGen

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Burkehill Global Management LP bought a new stake in PepGen during the 3rd quarter worth approximately $46,000. Militia Capital Partners LP purchased a new position in shares of PepGen during the 3rd quarter valued at $72,000. ADAR1 Capital Management LLC grew its position in shares of PepGen by 81.0% during the 3rd quarter. ADAR1 Capital Management LLC now owns 36,842 shares of the company’s stock valued at $170,000 after purchasing an additional 16,490 shares in the last quarter. Rangeley Capital LLC increased its holdings in shares of PepGen by 133.3% in the second quarter. Rangeley Capital LLC now owns 35,000 shares of the company’s stock worth $39,000 after purchasing an additional 20,000 shares during the period. Finally, Trexquant Investment LP purchased a new stake in shares of PepGen in the fourth quarter worth $158,000. 58.01% of the stock is currently owned by institutional investors.

PepGen Company Profile

(Get Free Report)

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).

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