HC Wainwright Brokers Decrease Earnings Estimates for PepGen Inc. (NASDAQ:PEPG)

PepGen Inc. (NASDAQ:PEPG) – Equities research analysts at HC Wainwright lowered their FY2023 earnings estimates for shares of PepGen in a report issued on Thursday, November 9th. HC Wainwright analyst A. Fein now anticipates that the company will earn ($3.20) per share for the year, down from their previous estimate of ($2.93). HC Wainwright has a “Buy” rating and a $26.00 price target on the stock. The consensus estimate for PepGen’s current full-year earnings is ($3.43) per share. HC Wainwright also issued estimates for PepGen’s Q4 2023 earnings at ($0.72) EPS, FY2024 earnings at ($3.21) EPS, FY2025 earnings at ($2.65) EPS, FY2026 earnings at ($0.92) EPS and FY2027 earnings at $0.01 EPS.

PepGen (NASDAQ:PEPG) last released its quarterly earnings data on Wednesday, November 8th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.10).

PepGen Stock Down 5.2 %

PEPG opened at $3.86 on Monday. The firm has a 50-day simple moving average of $5.35 and a two-hundred day simple moving average of $8.51. PepGen has a 52 week low of $3.72 and a 52 week high of $20.00. The company has a market capitalization of $91.91 million, a PE ratio of -1.12 and a beta of 1.10.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its holdings in shares of PepGen by 19.0% during the 1st quarter. FMR LLC now owns 2,609,902 shares of the company’s stock valued at $31,919,000 after purchasing an additional 417,573 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of PepGen by 1.2% in the 1st quarter. BlackRock Inc. now owns 987,150 shares of the company’s stock valued at $12,073,000 after acquiring an additional 11,478 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of PepGen by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 470,987 shares of the company’s stock valued at $4,276,000 after acquiring an additional 10,913 shares during the last quarter. Citadel Advisors LLC lifted its holdings in shares of PepGen by 17.1% in the 3rd quarter. Citadel Advisors LLC now owns 343,751 shares of the company’s stock valued at $3,121,000 after acquiring an additional 50,210 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of PepGen by 4.0% in the 1st quarter. Geode Capital Management LLC now owns 241,707 shares of the company’s stock valued at $2,956,000 after acquiring an additional 9,189 shares during the last quarter. Institutional investors own 71.80% of the company’s stock.

PepGen Company Profile

PepGen Inc, a clinical-stage biotechnology company, focuses on the development of oligonucleotide therapeutics for use in the treatment of severe neuromuscular and neurologic diseases. Its lead product candidate is PGN-EDO51, an EDO peptide that id in Phase I clinical trial to treat individuals with Duchenne muscular dystrophy (DMD).