PepGen (NASDAQ:PEPG) Rating Lowered to “Sell” at Wall Street Zen

PepGen (NASDAQ:PEPG) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Other analysts have also recently issued reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of PepGen in a research note on Tuesday, April 21st. Guggenheim increased their target price on shares of PepGen from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Wedbush lowered their target price on shares of PepGen from $5.00 to $4.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Oppenheimer began coverage on shares of PepGen in a research note on Wednesday, February 25th. They issued an “outperform” rating and a $15.00 target price on the stock. Finally, HC Wainwright reiterated a “buy” rating on shares of PepGen in a research note on Thursday, May 21st. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.60.

PepGen Stock Performance

Shares of PEPG stock opened at $1.50 on Friday. The stock has a market capitalization of $103.76 million, a P/E ratio of -0.86 and a beta of 2.01. The firm’s 50 day moving average is $2.13 and its 200 day moving average is $4.47. PepGen has a 12 month low of $1.01 and a 12 month high of $7.80.

PepGen (NASDAQ:PEPG) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.05. On average, equities analysts predict that PepGen will post -1.18 EPS for the current year.

Institutional Trading of PepGen

Several institutional investors and hedge funds have recently bought and sold shares of PEPG. RA Capital Management L.P. lifted its stake in PepGen by 87.7% in the 3rd quarter. RA Capital Management L.P. now owns 20,064,545 shares of the company’s stock worth $92,698,000 after purchasing an additional 9,375,000 shares in the last quarter. Commodore Capital LP purchased a new stake in shares of PepGen during the 3rd quarter valued at $10,891,000. Vivo Capital LLC purchased a new stake in shares of PepGen during the 3rd quarter valued at $10,742,000. Viking Global Investors LP raised its position in shares of PepGen by 134.9% during the 3rd quarter. Viking Global Investors LP now owns 3,482,434 shares of the company’s stock valued at $16,089,000 after buying an additional 2,000,000 shares in the last quarter. Finally, ADAR1 Capital Management LLC raised its position in shares of PepGen by 4,263.6% during the 1st quarter. ADAR1 Capital Management LLC now owns 1,607,638 shares of the company’s stock valued at $2,846,000 after buying an additional 1,570,796 shares in the last quarter. 58.01% of the stock is currently owned by hedge funds and other institutional investors.

PepGen Company Profile

PepGen, Inc (NASDAQ: PEPG) is a clinical-stage biotechnology company headquartered in San Diego, California. The company is developing precision gene editing therapies to address rare genetic diseases by combining advanced prime editing modalities with proprietary delivery technologies. PepGen’s platform is designed to achieve targeted and durable correction of disease-causing mutations in vivo, with the goal of providing long-lasting therapeutic benefit after a single administration.

The company’s lead development programs include PPG-001 for mucopolysaccharidosis type II (Hunter syndrome) and PPG-002 for mucopolysaccharidosis type I (Hurler syndrome).