PepGen, Inc. (NASDAQ:PEPG) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of PepGen, Inc. (NASDAQ:PEPG) have earned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $11.50.

PEPG has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of PepGen from a “sell” rating to a “hold” rating in a report on Sunday, June 7th. Craig Hallum began coverage on shares of PepGen in a research note on Tuesday, June 16th. They issued a “buy” rating and a $11.00 target price on the stock. HC Wainwright reissued a “buy” rating on shares of PepGen in a report on Wednesday, September 9th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of PepGen in a research report on Friday, August 28th.

Hedge Funds Weigh In On PepGen

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

PepGen Price Performance

NASDAQ:PEPG opened at $2.90 on Thursday. PepGen has a 1 year low of $1.31 and a 1 year high of $7.80. The stock’s fifty day moving average price is $2.65 and its two-hundred day moving average price is $2.59. The company has a market cap of $200.85 million, a P/E ratio of -2.21 and a beta of 1.97.

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

About PepGen

PepGen Inc (NASDAQ: PEPG) is a clinical-stage biopharmaceutical company focused on developing medicines for patients with neuromuscular and other serious diseases. The company’s platform is designed to use cell-penetrating peptides to enhance the delivery of oligonucleotide therapeutics into muscle and other tissues.

PepGen’s development programs include PGN-EDO51, an investigational exon-skipping therapy being developed for Duchenne muscular dystrophy patients who are amenable to exon 51 skipping.