Wedbush Cuts PepGen (NASDAQ:PEPG) Price Target to $5.00

PepGen (NASDAQ:PEPG) had its target price lowered by Wedbush from $9.00 to $5.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research firms have also issued reports on PEPG. Oppenheimer initiated coverage on shares of PepGen in a research report on Wednesday, February 25th. They set an “outperform” rating and a $15.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of PepGen in a research report on Thursday, January 22nd. Finally, Guggenheim boosted their price objective on shares of PepGen from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.80.

PepGen Stock Down 0.6%

NASDAQ:PEPG opened at $1.73 on Tuesday. The firm has a market capitalization of $119.56 million, a price-to-earnings ratio of -0.72 and a beta of 2.34. PepGen has a twelve month low of $0.88 and a twelve month high of $7.80. The stock’s 50 day moving average price is $5.36 and its two-hundred day moving average price is $5.17.

PepGen (NASDAQ:PEPG) last released its quarterly earnings data on Wednesday, March 4th. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.13. As a group, analysts anticipate that PepGen will post -2.73 earnings per share for the current year.

Institutional Investors Weigh In On PepGen

Hedge funds and other institutional investors have recently modified their holdings of the company. Heights Capital Management Inc. bought a new stake in shares of PepGen in the third quarter valued at about $46,000. Burkehill Global Management LP bought a new position in PepGen during the third quarter worth about $46,000. China Universal Asset Management Co. Ltd. raised its stake in PepGen by 94.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,202 shares of the company’s stock worth $73,000 after purchasing an additional 5,453 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in PepGen in the 4th quarter worth about $89,000. Finally, Militia Capital Partners LP bought a new stake in PepGen in the 3rd quarter valued at about $72,000. Institutional investors and hedge funds own 58.01% of the company’s stock.

PepGen Company Profile

PepGen, Inc (NASDAQ: PEPG) is a clinical-stage biotechnology company headquartered in San Diego, California. The company is developing precision gene editing therapies to address rare genetic diseases by combining advanced prime editing modalities with proprietary delivery technologies. PepGen’s platform is designed to achieve targeted and durable correction of disease-causing mutations in vivo, with the goal of providing long-lasting therapeutic benefit after a single administration.

The company’s lead development programs include PPG-001 for mucopolysaccharidosis type II (Hunter syndrome) and PPG-002 for mucopolysaccharidosis type I (Hurler syndrome).