PepGen (NASDAQ:PEPG) Stock Price Down 2.2% – What’s Next?

PepGen, Inc. (NASDAQ:PEPG)’s share price fell 2.2% on Monday . The company traded as low as $2.17 and last traded at $2.20. 490,369 shares were traded during trading, a decline of 54% from the average daily volume of 1,062,161 shares. The stock had previously closed at $2.25.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PEPG shares. Craig Hallum assumed coverage on PepGen in a research report on Tuesday, June 16th. They issued a “buy” rating and a $11.00 price objective for the company. HC Wainwright reiterated a “buy” rating on shares of PepGen in a research report on Thursday, May 21st. Wall Street Zen raised PepGen from a “sell” rating to a “hold” rating in a research note on Sunday, June 7th. Wedbush lowered their price target on PepGen from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Finally, Weiss Ratings cut PepGen from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.50.

PepGen Stock Down 2.2%

The company has a market cap of $152.17 million, a PE ratio of -1.26 and a beta of 1.88. The stock’s 50 day simple moving average is $1.73 and its two-hundred day simple moving average is $3.52.

PepGen (NASDAQ:PEPG) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.05. Analysts forecast that PepGen, Inc. will post -1.2 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 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 acquiring an additional 20,000 shares during the period. Marshall Wace LLP purchased a new position in shares of PepGen in the 2nd quarter worth about $44,000. Burkehill Global Management LP purchased a new position in shares of PepGen in the 3rd quarter worth about $46,000. Militia Capital Partners LP acquired a new position in shares of PepGen in the 3rd quarter valued at about $72,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of PepGen by 94.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,202 shares of the company’s stock valued at $73,000 after purchasing an additional 5,453 shares in the last quarter. Institutional investors and hedge funds own 58.01% of the company’s stock.

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).