PepGen (NASDAQ:PEPG) Downgraded by Bank of America

Bank of America downgraded shares of PepGen (NASDAQ:PEPG) from a buy rating to a neutral rating in a research report released on Wednesday, MarketBeat.com reports. Bank of America currently has $12.00 target price on the stock.

Other equities research analysts have also recently issued reports about the stock. Wedbush reiterated an outperform rating and set a $20.00 price target on shares of PepGen in a research report on Wednesday, May 15th. HC Wainwright reiterated a buy rating and set a $26.00 price target on shares of PepGen in a research report on Wednesday, May 15th.

PepGen Stock Performance

PepGen stock opened at $11.43 on Wednesday. PepGen has a 12-month low of $3.72 and a 12-month high of $19.30. The company has a 50-day moving average price of $16.75 and a 200 day moving average price of $14.08.

PepGen (NASDAQ:PEPG) last released its quarterly earnings data on Tuesday, May 14th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.74) by $0.11. On average, equities research analysts expect that PepGen will post -2.87 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Niels Svenstrup sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $13.41, for a total value of $134,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Michelle L. Mellion sold 9,260 shares of PepGen stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $18.19, for a total value of $168,439.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Niels Svenstrup sold 10,000 shares of PepGen stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $13.41, for a total transaction of $134,100.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,182 shares of company stock valued at $844,269. 4.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new position in PepGen in the first quarter worth approximately $30,000. Bank of New York Mellon Corp lifted its stake in PepGen by 43.6% in the second quarter. Bank of New York Mellon Corp now owns 44,157 shares of the company’s stock worth $705,000 after acquiring an additional 13,397 shares during the last quarter. Janus Henderson Group PLC lifted its stake in PepGen by 18.1% in the first quarter. Janus Henderson Group PLC now owns 1,166,642 shares of the company’s stock worth $17,225,000 after acquiring an additional 178,438 shares during the last quarter. Artal Group S.A. purchased a new position in PepGen in the first quarter worth approximately $2,940,000. Finally, Vanguard Group Inc. lifted its stake in PepGen by 68.0% in the first quarter. Vanguard Group Inc. now owns 850,445 shares of the company’s stock worth $12,502,000 after acquiring an additional 344,266 shares during the last quarter. 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.