PepGen, Inc. (NASDAQ:PEPG) Given Average Recommendation of “Hold” by Analysts

PepGen, Inc. (NASDAQ:PEPG) has received a consensus rating of “Hold” from the six analysts that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $10.00.

A number of analysts recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of PepGen from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, September 25th. Weiss Ratings restated a “sell (d-)” rating on shares of PepGen in a report on Wednesday, October 8th. Wall Street Zen upgraded PepGen from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Guggenheim reiterated a “buy” rating and set a $6.00 target price on shares of PepGen in a research report on Wednesday, September 24th. Finally, Wedbush lifted their price target on PepGen from $7.00 to $9.00 and gave the company an “outperform” rating in a report on Thursday, September 25th.

Insider Transactions at PepGen

In related news, major shareholder Science Enterprises Plc Oxford purchased 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average price of $3.20 per share, with a total value of $640,000.00. Following the completion of the transaction, the insider owned 4,955,388 shares of the company’s stock, valued at approximately $15,857,241.60. This trade represents a 4.21% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.60% of the company’s stock.

Institutional Trading of PepGen

Institutional investors have recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. grew its position in PepGen by 68.8% during the first 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 acquiring an additional 550,000 shares during the period. ADAR1 Capital Management LLC acquired a new position in shares of PepGen in the 1st quarter valued at about $29,000. Nuveen LLC purchased a new stake in shares of PepGen during the 1st quarter worth about $139,000. XTX Topco Ltd purchased a new stake in shares of PepGen during the 1st quarter worth about $25,000. Finally, Marshall Wace LLP acquired a new stake in PepGen during the 2nd quarter worth approximately $44,000. 58.01% of the stock is owned by hedge funds and other institutional investors.

PepGen Stock Up 2.8%

Shares of NASDAQ:PEPG opened at $5.59 on Tuesday. The company has a market capitalization of $384.31 million, a P/E ratio of -1.98 and a beta of 1.90. PepGen has a 52-week low of $0.88 and a 52-week high of $6.72. The stock’s fifty day simple moving average is $5.03 and its 200-day simple moving average is $2.76.

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

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.