PepGen (NASDAQ:PEPG) Coverage Initiated at Oppenheimer

Analysts at Oppenheimer assumed coverage on shares of PepGen (NASDAQ:PEPG) in a note issued to investors on Wednesday,Benzinga reports. The firm set an “outperform” rating and a $15.00 price target on the stock. Oppenheimer’s price objective suggests a potential upside of 140.38% from the stock’s previous close.

Several other research analysts have also issued reports on PEPG. Wall Street Zen upgraded shares of PepGen from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. HC Wainwright raised their target price on shares of PepGen from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Guggenheim lifted their target price on shares of PepGen from $6.00 to $7.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of PepGen in a research note on Thursday, January 22nd. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.60.

PepGen Trading Down 2.5%

PEPG opened at $6.24 on Wednesday. The company has a market cap of $429 million, a price-to-earnings ratio of -2.21 and a beta of 1.91. The stock has a fifty day simple moving average of $5.84 and a two-hundred day simple moving average of $4.52. PepGen has a 12-month low of $0.88 and a 12-month high of $7.80.

Institutional Trading of PepGen

A number of institutional investors have recently made changes to their positions in PEPG. RA Capital Management L.P. grew its stake in shares of PepGen by 87.7% in the third quarter. RA Capital Management L.P. now owns 20,064,545 shares of the company’s stock worth $92,698,000 after acquiring an additional 9,375,000 shares during the period. Commodore Capital LP bought a new position in PepGen during the third quarter valued at approximately $10,891,000. Vivo Capital LLC purchased a new stake in PepGen in the third quarter worth approximately $10,742,000. Viking Global Investors LP boosted its holdings in PepGen by 134.9% in the third quarter. Viking Global Investors LP now owns 3,482,434 shares of the company’s stock worth $16,089,000 after purchasing an additional 2,000,000 shares during the last quarter. Finally, Nantahala Capital Management LLC bought a new stake in PepGen in the 4th quarter worth approximately $10,072,000. Hedge funds and other institutional investors own 58.01% of the company’s stock.

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).