PepGen, Inc. (NASDAQ:PEPG) Receives $11.60 Average Price Target from Brokerages

Shares of PepGen, Inc. (NASDAQ:PEPG) have been given a consensus rating of “Moderate Buy” by the six brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $11.60.

A number of equities research analysts have weighed in on the stock. Weiss Ratings cut shares of PepGen from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Guggenheim increased their price target on shares of PepGen from $6.00 to $7.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Wall Street Zen upgraded shares of PepGen from a “sell” rating to a “hold” rating in a report on Sunday. HC Wainwright reiterated a “buy” rating on shares of PepGen in a report on Thursday, May 21st. Finally, Oppenheimer began coverage on shares of PepGen in a report on Wednesday, February 25th. They set an “outperform” rating and a $15.00 price target on the stock.

Institutional Investors Weigh In On PepGen

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. boosted its holdings in PepGen by 94.9% in the fourth 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 during the last quarter. Heights Capital Management Inc. purchased a new stake in PepGen in the third quarter worth approximately $46,000. Burkehill Global Management LP purchased a new stake in PepGen in the third quarter worth approximately $46,000. Jefferies Financial Group Inc. purchased a new stake in PepGen in the fourth quarter worth approximately $89,000. Finally, Militia Capital Partners LP purchased a new stake in PepGen in the third quarter worth approximately $72,000. Hedge funds and other institutional investors own 58.01% of the company’s stock.

PepGen Stock Performance

Shares of PEPG opened at $1.41 on Tuesday. The stock has a market cap of $97.53 million, a PE ratio of -0.81 and a beta of 1.93. PepGen has a fifty-two week low of $1.01 and a fifty-two week high of $7.80. The firm’s 50-day simple moving average is $1.80 and its two-hundred day simple moving average is $4.35.

PepGen (NASDAQ:PEPG) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.05. Equities research analysts predict that PepGen will post -1.2 EPS for the current year.

About PepGen

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).