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

PepGen (NASDAQ:PEPG) released its quarterly earnings results on Thursday. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.02, FiscalAI reports.

PepGen Trading Up 18.3%

Shares of NASDAQ:PEPG traded up $0.44 on Friday, reaching $2.85. 3,218,010 shares of the company were exchanged, compared to its average volume of 1,135,321. The firm has a market cap of $197.13 million, a price-to-earnings ratio of -2.18 and a beta of 1.89. PepGen has a 1-year low of $1.01 and a 1-year high of $7.80. The company has a 50-day moving average of $1.86 and a 200-day moving average of $3.13.

Institutional Trading of PepGen

A number of institutional investors have recently bought and sold shares of the company. XTX Topco Ltd acquired a new stake in shares of PepGen in the fourth quarter valued at approximately $638,000. Readystate Asset Management LP purchased a new stake in PepGen in the fourth quarter valued at approximately $739,000. Trexquant Investment LP acquired a new stake in shares of PepGen during the 4th quarter worth $158,000. Jump Financial LLC acquired a new stake in PepGen during the fourth quarter worth about $361,000. Finally, Laurion Capital Management LP increased its position in PepGen by 8.5% during the 4th quarter. Laurion Capital Management LP now owns 2,052,133 shares of the company’s stock worth $13,359,000 after purchasing an additional 159,977 shares in the last quarter. 58.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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).