PepGen (NASDAQ:PEPG) Shares Down 14.4% – Here’s Why

PepGen Inc. (NASDAQ:PEPG) shares were down 14.4% on Thursday . The stock traded as low as $1.25 and last traded at $1.25. Approximately 145,509 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 800,453 shares. The stock had previously closed at $1.46.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PEPG shares. HC Wainwright reiterated a “buy” rating and set a $16.00 price objective on shares of PepGen in a research report on Monday, February 24th. Bank of America lowered PepGen from a “neutral” rating to an “underperform” rating and set a $3.00 price target for the company. in a research report on Monday, December 16th.

PepGen Price Performance

The firm has a market cap of $40.87 million, a P/E ratio of -0.42 and a beta of 0.98. The stock’s 50-day simple moving average is $1.78 and its two-hundred day simple moving average is $4.48.

PepGen (NASDAQ:PEPG) last issued its quarterly earnings results on Monday, February 24th. The company reported ($0.68) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.13. As a group, sell-side analysts expect that PepGen Inc. will post -2.73 earnings per share for the current year.

Hedge Funds Weigh In On PepGen

Several hedge funds have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. bought a new stake in shares of PepGen during the fourth quarter worth $26,000. Corton Capital Inc. bought a new stake in PepGen during the 4th quarter valued at about $68,000. XTX Topco Ltd bought a new stake in PepGen during the 3rd quarter valued at about $130,000. Deutsche Bank AG boosted its position in PepGen by 442.5% in the 4th quarter. Deutsche Bank AG now owns 44,735 shares of the company’s stock valued at $170,000 after buying an additional 36,489 shares during the period. Finally, Wellington Management Group LLP grew its stake in PepGen by 17.2% in the 4th quarter. Wellington Management Group LLP now owns 47,506 shares of the company’s stock worth $180,000 after acquiring an additional 6,989 shares in the last quarter. Institutional investors own 58.01% of the company’s stock.

PepGen Company Profile

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.