Daily Stock Market News

Short Interest in PepGen Inc. (NASDAQ:PEPG) Drops By 22.3%


PepGen Inc. (NASDAQ:PEPGGet Rating) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 176,100 shares, a drop of 22.3% from the August 31st total of 226,600 shares. Currently, 0.9% of the company’s stock are short sold. Based on an average daily volume of 56,300 shares, the days-to-cover ratio is presently 3.1 days.

PepGen Stock Performance

Shares of PEPG stock traded up $0.72 during trading on Friday, hitting $9.08. 309,027 shares of the company were exchanged, compared to its average volume of 193,406. The business’s 50-day moving average is $9.57. PepGen has a twelve month low of $4.32 and a twelve month high of $16.99.

PepGen (NASDAQ:PEPGGet Rating) last posted its quarterly earnings results on Friday, August 12th. The company reported ($1.23) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.47). Sell-side analysts predict that PepGen will post -5.76 EPS for the current year.

Institutional Trading of PepGen

Institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC acquired a new stake in PepGen in the second quarter valued at approximately $2,915,000. Millennium Management LLC acquired a new stake in PepGen in the second quarter valued at approximately $2,083,000. State Street Corp acquired a new stake in PepGen in the second quarter valued at approximately $906,000. Northern Trust Corp acquired a new stake in PepGen in the second quarter valued at approximately $694,000. Finally, Rhumbline Advisers acquired a new stake in PepGen in the second quarter valued at approximately $110,000. 81.29% of the stock is currently owned by institutional investors and hedge funds.

About PepGen

(Get Rating)

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. The company’s lead product candidate is PGN-EDO51, an EDO peptide in Phase I clinical trials to treat individuals with Duchenne muscular dystrophy (DMD).

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Read More: Short Interest in PepGen Inc. (NASDAQ:PEPG) Drops By 22.3%

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