PepGen (NASDAQ:PEPG) Downgraded to Underperform Rating by Bank of America

Bank of America lowered shares of PepGen (NASDAQ:PEPG) from a neutral rating to an underperform rating in a report released on Monday, MarketBeat Ratings reports. The firm currently has $3.00 price target on the stock.

A number of other research analysts have also recently commented on the stock. Wedbush reduced their price target on shares of PepGen from $19.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. HC Wainwright reiterated a “buy” rating and set a $26.00 price target on shares of PepGen in a research report on Friday, November 8th.

PepGen Trading Down 5.6 %

PEPG stock opened at $4.06 on Monday. The company’s 50 day moving average is $6.15 and its 200 day moving average is $10.47. The stock has a market cap of $132.34 million, a price-to-earnings ratio of -1.36 and a beta of 1.56. PepGen has a 1-year low of $2.90 and a 1-year high of $19.30.

Hedge Funds Weigh In On PepGen

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new position in shares of PepGen during the second quarter valued at $42,000. American Century Companies Inc. increased its holdings in shares of PepGen by 19.9% during the second quarter. American Century Companies Inc. now owns 20,028 shares of the company’s stock valued at $320,000 after acquiring an additional 3,326 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of PepGen by 36.1% during the second quarter. Rhumbline Advisers now owns 18,853 shares of the company’s stock valued at $301,000 after acquiring an additional 5,002 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of PepGen by 29.1% during the third quarter. Jane Street Group LLC now owns 27,748 shares of the company’s stock valued at $237,000 after acquiring an additional 6,254 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of PepGen during the third quarter valued at $95,000. Hedge funds and other institutional investors own 58.01% of the company’s stock.

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.