Analysts Set PepGen, Inc. (NASDAQ:PEPG) Target Price at $10.00

PepGen, Inc. (NASDAQ:PEPG) has been assigned a consensus rating of “Hold” from the six ratings firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $10.00.

Several brokerages recently issued reports on PEPG. Wedbush lifted their price target on shares of PepGen from $7.00 to $9.00 and gave the company an “outperform” rating in a report on Thursday, September 25th. Stifel Nicolaus boosted their target price on shares of PepGen from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, September 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of PepGen in a report on Wednesday, October 8th. Guggenheim reissued a “buy” rating and set a $6.00 price objective on shares of PepGen in a report on Wednesday, September 24th. Finally, HC Wainwright boosted their price objective on PepGen from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday.

PepGen Stock Down 3.1%

NASDAQ:PEPG opened at $4.74 on Friday. PepGen has a twelve month low of $0.88 and a twelve month high of $6.85. The stock’s 50-day simple moving average is $4.00 and its 200 day simple moving average is $2.29. The firm has a market capitalization of $155.47 million, a PE ratio of -1.68 and a beta of 1.95.

PepGen (NASDAQ:PEPG) last issued its earnings results on Wednesday, November 12th. The company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.11. On average, analysts anticipate that PepGen will post -2.73 EPS for the current fiscal year.

Insider Activity

In other PepGen news, major shareholder Science Enterprises Plc Oxford acquired 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average price of $3.20 per share, for a total transaction of $640,000.00. Following the acquisition, the insider directly owned 4,955,388 shares in the company, valued at $15,857,241.60. This represents a 4.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PepGen

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new position in shares of PepGen during the first quarter valued at $25,000. Nuveen LLC bought a new position in PepGen during the 1st quarter worth $139,000. ADAR1 Capital Management LLC acquired a new position in PepGen during the 1st quarter worth about $29,000. Adage Capital Partners GP L.L.C. grew its position in shares of PepGen by 68.8% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,350,000 shares of the company’s stock valued at $1,897,000 after buying an additional 550,000 shares during the last quarter. Finally, AQR Capital Management LLC bought a new stake in shares of PepGen in the 1st quarter valued at about $122,000. 58.01% of the stock is currently owned by institutional investors and hedge funds.

About PepGen

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.