PepGen (NASDAQ:PEPG) Price Target Cut to $14.00 by Analysts at HC Wainwright

PepGen (NASDAQ:PEPG) had its price target reduced by HC Wainwright from $16.00 to $14.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

PepGen Stock Performance

Shares of NASDAQ:PEPG opened at $1.50 on Friday. The stock has a market capitalization of $49.08 million, a price-to-earnings ratio of -0.50 and a beta of 1.39. PepGen has a 1-year low of $0.88 and a 1-year high of $19.30. The company has a 50 day moving average price of $1.61 and a 200 day moving average price of $3.03.

PepGen (NASDAQ:PEPG) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.20). On average, sell-side analysts expect that PepGen will post -2.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO James G. Mcarthur purchased 41,500 shares of PepGen stock in a transaction that occurred on Tuesday, April 8th. The stock was acquired at an average price of $1.15 per share, for a total transaction of $47,725.00. Following the transaction, the chief executive officer now owns 103,913 shares in the company, valued at $119,499.95. The trade was a 66.49 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On PepGen

Several institutional investors and hedge funds have recently added to or reduced their stakes in PEPG. Jane Street Group LLC boosted its position in shares of PepGen by 29.1% in the third quarter. Jane Street Group LLC now owns 27,748 shares of the company’s stock worth $237,000 after buying an additional 6,254 shares during the period. JPMorgan Chase & Co. boosted its position in PepGen by 289.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 26,611 shares of the company’s stock worth $228,000 after acquiring an additional 19,786 shares during the period. Barclays PLC grew its stake in PepGen by 318.7% during the 3rd quarter. Barclays PLC now owns 21,971 shares of the company’s stock valued at $189,000 after acquiring an additional 16,723 shares in the last quarter. Corton Capital Inc. purchased a new stake in shares of PepGen in the fourth quarter worth approximately $68,000. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of PepGen during the fourth quarter worth approximately $26,000. 58.01% of the stock is currently owned by hedge funds and other institutional investors.

About PepGen

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.