PepGen (NASDAQ:PEPG) Issues Earnings Results, Beats Estimates By $0.13 EPS

PepGen (NASDAQ:PEPG) issued its quarterly earnings data on Wednesday. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.13, FiscalAI reports.

PepGen Stock Performance

NASDAQ:PEPG traded down $1.21 during mid-day trading on Thursday, hitting $5.55. The stock had a trading volume of 1,353,553 shares, compared to its average volume of 701,108. PepGen has a twelve month low of $0.88 and a twelve month high of $7.80. The stock has a market cap of $381.56 million, a price-to-earnings ratio of -1.97 and a beta of 1.87. The company’s 50 day simple moving average is $5.92 and its 200 day simple moving average is $4.70.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. RA Capital Management L.P. lifted its holdings 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 purchasing an additional 9,375,000 shares during the last quarter. Vivo Capital LLC bought a new position in shares of PepGen in the third quarter valued at about $10,742,000. Viking Global Investors LP raised its position in shares of PepGen by 134.9% in the third 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 stake in shares of PepGen during the 4th quarter worth about $10,072,000. Finally, Deep Track Capital LP bought a new stake in shares of PepGen during the 3rd quarter worth about $5,544,000. 58.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PEPG has been the topic of several analyst reports. Guggenheim raised their price target on shares of PepGen from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Weiss Ratings restated a “sell (d-)” rating on shares of PepGen in a research report on Thursday, January 22nd. HC Wainwright increased their price target on PepGen from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Oppenheimer assumed coverage on PepGen in a report on Wednesday, February 25th. They set an “outperform” rating and a $15.00 price target on the stock. Finally, Wall Street Zen raised shares of PepGen from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, PepGen has an average rating of “Moderate Buy” and a consensus target price of $12.60.

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).