PepGen (NASDAQ:PEPG) Price Target Raised to $9.00 at Wedbush

PepGen (NASDAQ:PEPG) had its price target upped by Wedbush from $7.00 to $9.00 in a research note issued to investors on Thursday, Marketbeat Ratings reports. Wedbush currently has an outperform rating on the stock.

PEPG has been the subject of several other reports. HC Wainwright raised their price target on PepGen from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday. Guggenheim restated a “buy” rating and set a $6.00 price target on shares of PepGen in a research report on Wednesday. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $8.40.

PepGen Stock Up 121.1%

PEPG stock opened at $5.88 on Thursday. PepGen has a 52-week low of $0.88 and a 52-week high of $9.94. The business has a fifty day moving average of $1.51 and a two-hundred day moving average of $1.48. The stock has a market cap of $192.86 million, a price-to-earnings ratio of -1.99 and a beta of 1.17.

PepGen (NASDAQ:PEPG) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.85) by $0.15. As a group, sell-side analysts anticipate that PepGen will post -2.73 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its holdings in PepGen by 17.2% in the fourth quarter. Wellington Management Group LLP now owns 47,506 shares of the company’s stock valued at $180,000 after purchasing an additional 6,989 shares during the period. Northern Trust Corp lifted its holdings in PepGen by 5.4% during the 4th quarter. Northern Trust Corp now owns 157,038 shares of the company’s stock worth $595,000 after buying an additional 7,984 shares during the last quarter. XTX Topco Ltd purchased a new stake in PepGen during the 1st quarter worth about $25,000. Bank of America Corp DE lifted its holdings in PepGen by 54.7% during the 4th quarter. Bank of America Corp DE now owns 53,868 shares of the company’s stock worth $204,000 after buying an additional 19,056 shares during the last quarter. Finally, Rangeley Capital LLC lifted its holdings in PepGen by 133.3% during the 2nd quarter. Rangeley Capital LLC now owns 35,000 shares of the company’s stock worth $39,000 after buying an additional 20,000 shares during the last quarter. 58.01% of the stock is currently owned by hedge funds and other institutional investors.

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 is in Phase 2 clinical trial to treat Duchenne muscular dystrophy (DMD) patients.