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

PepGen, Inc. (NASDAQ:PEPG) has earned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $11.40.

Several analysts have weighed in on PEPG shares. HC Wainwright reaffirmed a “buy” rating on shares of PepGen in a report on Wednesday, September 9th. Weiss Ratings raised shares of PepGen from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 22nd. Finally, Wall Street Zen downgraded shares of PepGen from a “hold” rating to a “sell” rating in a report on Saturday, October 10th.

Institutional Trading of PepGen

Several institutional investors and hedge funds have recently bought and sold shares of PEPG. Commodore Capital LP raised its stake in shares of PepGen by 31.6% in the first quarter. Commodore Capital LP now owns 4,475,000 shares of the company’s stock worth $7,921,000 after purchasing an additional 1,075,000 shares during the last quarter. ADAR1 Capital Management LLC bought a new stake in PepGen in the 2nd quarter worth about $4,664,000. BlackRock Inc. bought a new stake in PepGen in the 2nd quarter worth about $2,348,000. Kalehua Capital Management LLC bought a new stake in PepGen in the 1st quarter worth about $1,770,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of PepGen during the 2nd quarter valued at about $1,535,000. 58.01% of the stock is currently owned by hedge funds and other institutional investors.

PepGen Stock Up 4.7%

PEPG stock opened at $2.46 on Friday. The firm has a market cap of $170.38 million, a PE ratio of -1.88 and a beta of 2.02. The business has a 50 day moving average of $2.72 and a 200-day moving average of $3.04. PepGen has a 12-month low of $1.31 and a 12-month high of $7.80.

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

PepGen Company Profile

PepGen Inc is a clinical-stage biotechnology company developing genetic medicines for serious neuromuscular diseases. The company’s technology is designed to improve the delivery of oligonucleotide therapeutics into skeletal and cardiac muscle, with the goal of addressing diseases caused by genetic mutations or abnormal RNA processing.

PepGen’s platform, known as Enhanced Delivery Oligonucleotides (EDO), combines therapeutic oligonucleotides with proprietary peptides intended to facilitate their distribution into muscle tissue.