PepGen Inc. (NASDAQ:PEPG) Short Interest Update

PepGen Inc. (NASDAQ:PEPG) was the recipient of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 694,200 shares, a decline of 14.1% from the December 15th total of 808,100 shares. Based on an average trading volume of 159,500 shares, the short-interest ratio is currently 4.4 days. Currently, 2.6% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of research firms have issued reports on PEPG. Bank of America cut PepGen from a “neutral” rating to an “underperform” rating and set a $3.00 target price for the company. in a research note on Monday, December 16th. HC Wainwright reiterated a “buy” rating and set a $26.00 price objective on shares of PepGen in a report on Friday, November 8th. Finally, Wedbush decreased their price objective on PepGen from $19.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, November 8th.

PepGen Stock Performance

NASDAQ:PEPG opened at $2.42 on Friday. The company has a market cap of $78.89 million, a PE ratio of -0.81 and a beta of 1.66. PepGen has a 52-week low of $2.40 and a 52-week high of $19.30. The stock has a 50-day simple moving average of $4.40 and a 200 day simple moving average of $8.59.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Point72 DIFC Ltd acquired a new position in PepGen during the second quarter valued at approximately $42,000. American Century Companies Inc. boosted its position in PepGen by 19.9% during the second quarter. American Century Companies Inc. now owns 20,028 shares of the company’s stock valued at $320,000 after purchasing an additional 3,326 shares during the last quarter. Rhumbline Advisers boosted its position in PepGen by 36.1% during the second quarter. Rhumbline Advisers now owns 18,853 shares of the company’s stock valued at $301,000 after purchasing an additional 5,002 shares during the last quarter. Jane Street Group LLC boosted its position in PepGen by 29.1% during the third quarter. Jane Street Group LLC now owns 27,748 shares of the company’s stock valued at $237,000 after purchasing an additional 6,254 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in PepGen during the third quarter valued at approximately $95,000. 58.01% of the stock is currently owned by institutional investors.

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.