Short Interest in PepGen Inc. (NASDAQ:PEPG) Increases By 229.6%

PepGen Inc. (NASDAQ:PEPG) saw a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 2,810,000 shares, a growth of 229.6% from the February 13th total of 852,600 shares. Approximately 10.3% of the company’s stock are sold short. Based on an average trading volume of 2,690,000 shares, the days-to-cover ratio is currently 1.0 days.

Hedge Funds Weigh In On PepGen

Institutional investors have recently modified their holdings of the business. Suvretta Capital Management LLC increased its holdings in shares of PepGen by 9.2% in the 3rd quarter. Suvretta Capital Management LLC now owns 1,660,932 shares of the company’s stock valued at $14,201,000 after acquiring an additional 140,000 shares during the period. Jane Street Group LLC increased its holdings in shares of PepGen by 29.1% in the 3rd quarter. Jane Street Group LLC now owns 27,748 shares of the company’s stock valued at $237,000 after acquiring an additional 6,254 shares during the period. Barclays PLC increased its holdings in shares of PepGen by 318.7% in the 3rd quarter. Barclays PLC now owns 21,971 shares of the company’s stock valued at $189,000 after acquiring an additional 16,723 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of PepGen by 289.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 26,611 shares of the company’s stock valued at $228,000 after acquiring an additional 19,786 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in shares of PepGen by 331.2% in the 3rd quarter. Janus Henderson Group PLC now owns 2,336,516 shares of the company’s stock valued at $20,012,000 after acquiring an additional 1,794,641 shares during the period. 58.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PEPG has been the topic of a number of research analyst reports. HC Wainwright reissued a “buy” rating and set a $16.00 price objective on shares of PepGen in a report on Monday, February 24th. Bank of America cut shares of PepGen from a “neutral” rating to an “underperform” rating and set a $3.00 price objective on the stock. in a report on Monday, December 16th.

PepGen Trading Up 6.2 %

PEPG stock opened at $2.39 on Friday. PepGen has a twelve month low of $1.16 and a twelve month high of $19.30. The company’s 50 day moving average is $2.07 and its two-hundred day moving average is $5.21. The stock has a market cap of $78.13 million, a P/E ratio of -0.80 and a beta of 0.96.

PepGen (NASDAQ:PEPG) last announced its earnings results on Monday, February 24th. The company reported ($0.68) EPS for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.13. On average, equities research analysts predict that PepGen will post -2.73 earnings per share for the current year.

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.