PepGen, Inc. (NASDAQ:PEPG) Stock Has Average Target Price of $11.40

PepGen, Inc. (NASDAQ:PEPG) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $11.40.

Several equities research analysts have commented on PEPG shares. HC Wainwright reaffirmed a “buy” rating on shares of PepGen in a report on Wednesday, September 9th. Wall Street Zen cut PepGen from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings upgraded shares of PepGen from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, September 22nd. Finally, Craig Hallum initiated coverage on PepGen in a report on Tuesday, June 16th. They issued a “buy” rating and a $11.00 price target for the company.

PepGen Price Performance

Shares of PepGen stock opened at $2.62 on Monday. The firm’s 50-day moving average is $2.81 and its two-hundred day moving average is $2.23. PepGen has a 1 year low of $1.31 and a 1 year high of $7.80. The stock has a market cap of $181.46 million, a price-to-earnings ratio of -2.00 and a beta of 2.01.

PepGen (NASDAQ:PEPG) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.02. On average, equities analysts expect that PepGen will post -1.11 earnings per share for the current year.

Institutional Investors Weigh In On PepGen

A number of large investors have recently modified their holdings of PEPG. Squarepoint Ops LLC lifted its holdings in shares of PepGen by 260.9% in the 2nd quarter. Squarepoint Ops LLC now owns 529,083 shares of the company’s stock valued at $952,000 after purchasing an additional 382,487 shares during the last quarter. ADAR1 Capital Management LLC acquired a new position in PepGen during the second quarter worth $4,664,000. GSA Capital Partners LLP purchased a new position in PepGen in the second quarter worth $1,535,000. BlackRock Inc. purchased a new position in PepGen in the second quarter valued at about $2,348,000. Finally, Kalehua Capital Management LLC acquired a new stake in shares of PepGen during the 1st quarter valued at approximately $1,770,000. 58.01% of the stock is owned by hedge funds and other institutional investors.

About PepGen

PepGen Inc is a clinical-stage biotechnology company developing RNA-based therapeutics for severe neuromuscular and genetic diseases. The company’s programs are designed to address conditions caused by genetic mutations by selectively modifying or restoring the production of disease-related proteins.

PepGen’s technology platform, Enhanced Delivery Oligonucleotide (EDO), uses peptide-conjugated phosphorodiamidate morpholino oligomers to improve the delivery of therapeutic oligonucleotides into muscle and other tissues.