PepGen (NASDAQ:PEPG) Raised to “Neutral” at Bank of America

PepGen (NASDAQ:PEPG) was upgraded by investment analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research report issued on Tuesday, MarketBeat reports. The brokerage currently has a $6.00 price objective on the stock. Bank of America‘s price objective indicates a potential upside of 30.29% from the stock’s previous close.

PEPG has been the subject of a number of other reports. Wall Street Zen upgraded PepGen from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings raised PepGen from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 22nd. Finally, HC Wainwright restated a “buy” rating on shares of PepGen in a research report on Wednesday, September 9th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.50.

PepGen Stock Performance

Shares of NASDAQ PEPG traded up $2.21 during midday trading on Tuesday, reaching $4.61. The company’s stock had a trading volume of 101,187,768 shares, compared to its average volume of 1,489,272. The company has a market cap of $318.94 million, a P/E ratio of -3.52 and a beta of 2.02. The business’s 50 day moving average price is $2.66 and its two-hundred day moving average price is $2.98. PepGen has a fifty-two week low of $1.31 and a fifty-two week high of $7.80.

PepGen (NASDAQ:PEPG) last issued its quarterly earnings results on Tuesday, November 10th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). Sell-side analysts forecast that PepGen will post -1.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PepGen

A number of institutional investors have recently added to or reduced their stakes in the business. Commodore Capital LP increased its position in 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 during the period. ADAR1 Capital Management LLC acquired a new position in shares of PepGen during the second quarter worth $4,664,000. BlackRock Inc. bought a new stake in shares of PepGen in the second quarter worth $2,348,000. Kalehua Capital Management LLC bought a new stake in shares of PepGen in the first quarter worth $1,770,000. Finally, GSA Capital Partners LLP bought a new stake in shares of PepGen in the second quarter worth $1,535,000. 58.01% of the stock is owned by institutional investors.

More PepGen News

Here are the key news stories impacting PepGen this week:

• Positive Sentiment: In the FREEDOM2-DM1 study, the 10 mg/kg dose showed the highest reported level of splicing correction and improvements across multiple functional measures. Investors reacted to the potential of the treatment’s mid-stage data. PepGen Phase 2 results
• Positive Sentiment: The clinical news drew unusually heavy trading, with reports noting volume far above typical levels as PepGen stock surged. Benzinga report on PepGen trading
• Neutral Sentiment: Put-option trading rose sharply, with 8,402 puts purchased versus a typical daily volume of 396. This may reflect hedging or bearish positioning, but does not establish the direction of future share performance.
• Negative Sentiment: PepGen reported a quarterly loss of $0.28 per share, one cent wider than the consensus estimate of a $0.27 loss. The small miss may weigh on sentiment, though it was overshadowed by the trial update. PepGen third-quarter results

PepGen Company Profile

PepGen Inc. is a clinical-stage biotechnology company developing genetic medicines for serious neuromuscular diseases. The company’s technology is designed to improve the delivery of oligonucleotide therapeutics into skeletal and cardiac muscle, with the goal of addressing diseases caused by genetic mutations or abnormal RNA processing. PepGen’s platform, known as Enhanced Delivery Oligonucleotides (EDO), combines therapeutic oligonucleotides with proprietary peptides intended to facilitate their distribution into muscle tissue.