Brokerages Set PepGen, Inc. (NASDAQ:PEPG) Target Price at $11.50

PepGen, Inc. (NASDAQ:PEPG) has been assigned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $11.50.

A number of research firms have weighed in on PEPG. Weiss Ratings downgraded PepGen from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. Wedbush cut their price target on PepGen from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Craig Hallum assumed coverage on shares of PepGen in a research report on Tuesday, June 16th. They set a “buy” rating and a $11.00 price target for the company. Wall Street Zen upgraded shares of PepGen from a “sell” rating to a “hold” rating in a research note on Sunday, June 7th. Finally, HC Wainwright reissued a “buy” rating on shares of PepGen in a report on Thursday, May 21st.

Institutional Investors Weigh In On PepGen

A number of hedge funds have recently modified their holdings of PEPG. RA Capital Management L.P. increased its stake in shares of PepGen by 87.7% in the 3rd quarter. RA Capital Management L.P. now owns 20,064,545 shares of the company’s stock worth $92,698,000 after purchasing an additional 9,375,000 shares in the last quarter. Commodore Capital LP grew its holdings in PepGen by 31.6% during the first quarter. Commodore Capital LP now owns 4,475,000 shares of the company’s stock valued at $7,921,000 after purchasing an additional 1,075,000 shares during the period. Viking Global Investors LP grew its holdings in PepGen by 134.9% during the third quarter. Viking Global Investors LP now owns 3,482,434 shares of the company’s stock valued at $16,089,000 after purchasing an additional 2,000,000 shares during the period. Vivo Capital LLC purchased a new stake in PepGen in the third quarter worth about $10,742,000. Finally, Laurion Capital Management LP increased its position in PepGen by 8.5% in the fourth quarter. Laurion Capital Management LP now owns 2,052,133 shares of the company’s stock worth $13,359,000 after buying an additional 159,977 shares in the last quarter. Institutional investors own 58.01% of the company’s stock.

PepGen Trading Down 8.1%

Shares of PEPG opened at $1.93 on Wednesday. The firm has a market cap of $133.50 million, a PE ratio of -1.10 and a beta of 1.88. The firm has a fifty day simple moving average of $1.76 and a two-hundred day simple moving average of $3.41. PepGen has a 1-year low of $1.01 and a 1-year high of $7.80.

PepGen (NASDAQ:PEPG) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.05. As a group, research analysts forecast that PepGen will post -1.2 EPS for the current fiscal year.

About PepGen

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).