PepGen (NASDAQ:PEPG) Sees Strong Trading Volume

PepGen Inc. (NASDAQ:PEPG) shares saw an uptick in trading volume on Friday . 137,180 shares were traded during mid-day trading, an increase of 36% from the previous session’s volume of 100,572 shares.The stock last traded at $16.45 and had previously closed at $16.46.

Wall Street Analyst Weigh In

PEPG has been the subject of a number of recent research reports. Wedbush reissued an “outperform” rating and set a $20.00 price target on shares of PepGen in a research report on Wednesday, May 15th. HC Wainwright reissued a “buy” rating and set a $26.00 price target on shares of PepGen in a research report on Wednesday, May 15th.

PepGen Stock Performance

The business’s 50-day simple moving average is $15.02 and its 200-day simple moving average is $12.49.

PepGen (NASDAQ:PEPG) last posted its earnings results on Tuesday, May 14th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.74) by $0.11. As a group, equities analysts predict that PepGen Inc. will post -2.87 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Michelle L. Mellion sold 9,260 shares of PepGen stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $18.19, for a total transaction of $168,439.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michelle L. Mellion sold 9,260 shares of PepGen stock in a transaction on 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. Insiders sold a total of 19,760 shares of company stock valued at $311,559 in the last three months. 4.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PepGen

A number of institutional investors have recently added to or reduced their stakes in the stock. RA Capital Management L.P. grew its stake 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. Janus Henderson Group PLC grew 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. Vanguard Group Inc. grew its stake 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. Adage Capital Partners GP L.L.C. boosted its stake in PepGen by 18.3% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 680,000 shares of the company’s stock worth $3,454,000 after purchasing an additional 105,000 shares during the last quarter. Finally, Artal Group S.A. acquired a new stake in PepGen during the 1st quarter worth $2,940,000. Institutional investors and hedge funds own 58.01% of the company’s stock.

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.