PepGen (PEPG) stock rocketed higher on Thursday after the company reported results from a Phase 1 clinical trial. This trial covered the use of PGN-EDODM1 as a treatment for myotonic dystrophy type 1, which is an inherited muscle disorder that causes progressive muscle weakness, stiffness, and other systemic symptoms.
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The big news today is that this Phase 1 clinical trial met all of its endpoints. That includes a mean splicing correction of 53.7% after a single dose of PGN-EDODM1, which was well above any previously reported splicing correction in DM1 patients. The company said it will provide further information from this study in the first quarter of 2026.
To go along with this positive clinical trial news, PepGen priced a public offering of the company’s shares. The company will sell 31.25 million shares of PEPG stock for $3.20 each, generating $100 million in gross proceeds. Underwriters also have a 30-day option to acquire another 4,687,500 shares at the offering price. PepGen intends to use the funds for additional research and development, including FREEDOM-DM1 and FREEDOM2-DM1 clinical trials, as well as for working capital and general corporate purposes.
PepGen Stock Movement Today
PepGen stock was up 124.06% in pre-market trading on Thursday, following a 36.41% rally yesterday. Investors will note the stock has fallen 29.82% year-to-date and 69.39% over the past 12 months. Today’s news came with heavy trading of PEPG stock, as some 53 million shares changed hands, compared to a three-month daily average of about 570,000 units.
Is PepGen Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for PepGen is Moderate Buy, based on four Buy and one Sell rating over the past three months. With that comes an average PEPG stock price target of $6.80, representing a potential 155.64% upside for the shares.
