JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
In a recent transaction, James G. McArthur, President and CEO of PepGen Inc. (NASDAQ:PEPG), acquired a significant number of shares in the company. According to a Form 4 filing with the Securities and Exchange Commission, McArthur purchased 41,500 shares of PepGen's common stock on April 8, 2025. The shares were bought on the open market at prices ranging from $1.145 to $1.15 per share, totaling approximately $47,724. The purchase comes as the stock trades near its 52-week low of $0.98, with InvestingPro analysis indicating the company is currently undervalued.
This acquisition increases McArthur's direct ownership stake to 103,913 shares. The purchase reflects McArthur's confidence in the company's prospects as PepGen continues to operate within the pharmaceutical preparations industry. With a market capitalization of $32.7 million and a strong current ratio of 7.41, the company maintains solid liquidity despite recent market challenges. InvestingPro subscribers can access 14 additional key insights about PepGen's financial health and market position.
In other recent news, PepGen Inc. has announced a temporary suspension of its Phase 2 CONNECT2-EDO51 study for Duchenne muscular dystrophy (DMD) to review data from an ongoing study. This decision comes amid positive initial results from the company's FREEDOM-DM1 Phase 1 trial for myotonic dystrophy type 1, showing significant splicing correction in patients. In related developments, PepGen reported that its CONNECT1-EDO51 study, conducted in Canada, is progressing, although two participants experienced asymptomatic hypomagnesemia, which was resolved with treatment. Stifel analysts have adjusted their outlook on PepGen, lowering the stock price target to $14 from $17 but maintaining a Buy rating, citing promising biomarker data from the DM1 treatment. Similarly, H.C. Wainwright reduced its price target to $16 from $26 while also maintaining a Buy rating, following recent safety data disclosures from the CONNECT1-EDO51 trial. The company is addressing safety queries with Health Canada and the FDA regarding dosing levels for its ongoing trials. Meanwhile, PepGen's Chief Medical (TASE:BLWV) Officer, Dr. Michelle L. Mellion, has resigned, effective April 4, 2025, with no disagreements cited with the company. Investors are closely watching these developments as PepGen navigates these changes and continues its clinical programs.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.