Wall Street Zen Upgrades PepGen (NASDAQ:PEPG) to “Hold”

PepGen (NASDAQ:PEPG) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

Several other research analysts have also commented on the company. Wedbush decreased their target price on PepGen from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Guggenheim raised their price target on PepGen from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. HC Wainwright reaffirmed a “buy” rating on shares of PepGen in a research note on Thursday, May 21st. Oppenheimer assumed coverage on shares of PepGen in a research note on Wednesday, February 25th. They issued an “outperform” rating and a $15.00 price target for the company. Finally, Weiss Ratings lowered PepGen from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.60.

PepGen Stock Down 4.7%

Shares of NASDAQ PEPG opened at $1.41 on Friday. PepGen has a fifty-two week low of $1.01 and a fifty-two week high of $7.80. The business has a 50 day moving average price of $1.80 and a two-hundred day moving average price of $4.35. The firm has a market cap of $97.53 million, a PE ratio of -0.81 and a beta of 1.93.

PepGen (NASDAQ:PEPG) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.05. On average, analysts anticipate that PepGen will post -1.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PEPG. Rangeley Capital LLC grew its position in PepGen by 133.3% during the second quarter. Rangeley Capital LLC now owns 35,000 shares of the company’s stock valued at $39,000 after purchasing an additional 20,000 shares in the last quarter. Marshall Wace LLP acquired a new position in PepGen in the 2nd quarter valued at $44,000. Heights Capital Management Inc. acquired a new position in PepGen in the 3rd quarter valued at $46,000. Burkehill Global Management LP acquired a new stake in PepGen in the 3rd quarter worth $46,000. Finally, Militia Capital Partners LP acquired a new position in PepGen in the 3rd quarter valued at approximately $72,000. 58.01% of the stock is owned by hedge funds and other institutional investors.

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).