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

PepGen (NASDAQ:PEPG) posted 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

Shares of PEPG stock traded up $0.44 during trading hours on Friday, hitting $2.85. 3,218,010 shares of the company were exchanged, compared to its average volume of 1,135,321. PepGen has a one year low of $1.01 and a one year high of $7.80. The business’s 50-day simple moving average is $1.86 and its two-hundred day simple moving average is $3.13. The stock has a market capitalization of $197.13 million, a price-to-earnings ratio of -2.18 and a beta of 1.89.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PEPG. RA Capital Management L.P. raised its position in shares of 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. Viking Global Investors LP boosted its holdings in shares of PepGen by 134.9% in the 3rd quarter. Viking Global Investors LP now owns 3,482,434 shares of the company’s stock valued at $16,089,000 after buying an additional 2,000,000 shares during the period. Vivo Capital LLC bought a new stake in shares of PepGen during the 3rd quarter valued at about $10,742,000. Laurion Capital Management LP raised its stake in PepGen by 8.5% during the fourth quarter. Laurion Capital Management LP now owns 2,052,133 shares of the company’s stock worth $13,359,000 after acquiring an additional 159,977 shares during the period. Finally, Vanguard Group Inc. raised its stake in PepGen by 88.7% during the third quarter. Vanguard Group Inc. now owns 1,768,356 shares of the company’s stock worth $8,170,000 after acquiring an additional 831,333 shares during the period. Institutional investors and hedge funds own 58.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PEPG. Wall Street Zen raised shares of PepGen from a “sell” rating to a “hold” rating in a report on Sunday, June 7th. Weiss Ratings cut shares of PepGen from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. Craig Hallum began coverage on PepGen in a research note on Tuesday, June 16th. They set a “buy” rating and a $11.00 target price for the company. Wedbush dropped their target price on PepGen from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Finally, HC Wainwright reissued a “buy” rating on shares of PepGen in a report on Thursday, May 21st. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, PepGen has an average rating of “Moderate Buy” and an average price target of $11.50.

About PepGen

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).