PepGen, Inc. (NASDAQ:PEPG) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of PepGen, Inc. (NASDAQ:PEPG) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $11.60.

A number of analysts have recently commented on PEPG shares. Oppenheimer started coverage on shares of PepGen in a report on Wednesday, February 25th. They set an “outperform” rating and a $15.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of PepGen in a report on Tuesday, April 21st. Wall Street Zen cut shares of PepGen from a “hold” rating to a “sell” rating in a report on Saturday. Guggenheim boosted their target price on shares of PepGen from $6.00 to $7.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Finally, Wedbush dropped their target price on shares of PepGen from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th.

Hedge Funds Weigh In On PepGen

Several large investors have recently modified their holdings of PEPG. Rangeley Capital LLC raised its position in shares of PepGen by 133.3% in the 2nd quarter. Rangeley Capital LLC now owns 35,000 shares of the company’s stock worth $39,000 after purchasing an additional 20,000 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of PepGen in the 2nd quarter worth about $44,000. Heights Capital Management Inc. purchased a new position in shares of PepGen in the 3rd quarter worth about $46,000. Burkehill Global Management LP purchased a new position in shares of PepGen in the 3rd quarter worth about $46,000. Finally, Militia Capital Partners LP purchased a new position in PepGen in the 3rd quarter worth about $72,000. Hedge funds and other institutional investors own 58.01% of the company’s stock.

PepGen Stock Down 2.0%

NASDAQ:PEPG opened at $1.47 on Tuesday. The stock has a market cap of $101.68 million, a P/E ratio of -0.84 and a beta of 1.93. The firm’s fifty day simple moving average is $2.06 and its 200 day simple moving average is $4.45. PepGen has a twelve month low of $1.01 and a twelve month high of $7.80.

PepGen (NASDAQ:PEPG) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.05. On average, analysts expect that PepGen will post -1.18 EPS for the current fiscal year.

About PepGen

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).