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

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

Analyst Upgrades and Downgrades

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

PepGen Trading Down 2.2%

The business has a 50 day moving average of $1.73 and a 200-day moving average of $3.52. The stock has a market cap of $152.17 million, a PE ratio of -1.26 and a beta of 1.88.

PepGen (NASDAQ:PEPG) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.05. On average, equities research analysts anticipate that PepGen, Inc. will post -1.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Burkehill Global Management LP acquired a new stake in shares of PepGen during the 3rd quarter worth about $46,000. China Universal Asset Management Co. Ltd. raised its position in shares of PepGen by 94.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,202 shares of the company’s stock valued at $73,000 after buying an additional 5,453 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of PepGen during the fourth quarter valued at approximately $89,000. Militia Capital Partners LP acquired a new stake in PepGen during the third quarter worth approximately $72,000. Finally, Trexquant Investment LP acquired a new stake in PepGen during the fourth quarter worth approximately $158,000. 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).