Weiss Ratings Reiterates Sell (D-) Rating for PepGen (NASDAQ:PEPG)

PepGen (NASDAQ:PEPG)‘s stock had its “sell (d-)” rating reaffirmed by equities research analysts at Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

A number of other brokerages have also recently commented on PEPG. Guggenheim reiterated a “buy” rating and set a $6.00 price target on shares of PepGen in a research report on Wednesday, September 24th. Stifel Nicolaus raised their target price on shares of PepGen from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, September 25th. Wedbush raised their target price on shares of PepGen from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Thursday, September 25th. Finally, HC Wainwright raised their target price on shares of PepGen from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, September 25th. Four analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, PepGen has an average rating of “Hold” and an average target price of $8.40.

PepGen Price Performance

Shares of NASDAQ PEPG opened at $4.57 on Friday. PepGen has a one year low of $0.88 and a one year high of $8.33. The firm’s 50 day simple moving average is $2.98 and its two-hundred day simple moving average is $1.93. The stock has a market capitalization of $149.90 million, a P/E ratio of -1.54 and a beta of 1.96.

PepGen (NASDAQ:PEPG) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.70) EPS for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.15. As a group, equities analysts expect that PepGen will post -2.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PepGen news, major shareholder Science Enterprises Plc Oxford purchased 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was bought at an average price of $3.20 per share, with a total value of $640,000.00. Following the completion of the purchase, the insider directly owned 4,955,388 shares of the company’s stock, valued at $15,857,241.60. The trade was a 4.21% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 5.20% of the stock is owned by insiders.

Hedge Funds Weigh In On PepGen

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. lifted its position in PepGen by 68.8% during the first quarter. Adage Capital Partners GP L.L.C. now owns 1,350,000 shares of the company’s stock valued at $1,897,000 after buying an additional 550,000 shares during the period. ADAR1 Capital Management LLC purchased a new position in PepGen during the first quarter valued at $29,000. Nuveen LLC purchased a new position in PepGen during the first quarter valued at $139,000. Woodline Partners LP purchased a new position in PepGen during the first quarter valued at $1,097,000. Finally, AQR Capital Management LLC purchased a new position in PepGen during the first quarter valued at $122,000. 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.