Brokerages Set PepGen, Inc. (NASDAQ:PEPG) Price Target at $11.60

Shares of PepGen, Inc. (NASDAQ:PEPG) have been given a consensus rating of “Moderate Buy” by the six brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $11.60.

Several brokerages have issued reports on PEPG. Wall Street Zen upgraded PepGen from a “sell” rating to a “hold” rating in a research note on Sunday. HC Wainwright reiterated a “buy” rating on shares of PepGen in a report on Thursday, May 21st. Wedbush dropped their price target on PepGen from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings cut PepGen from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. Finally, Oppenheimer assumed coverage on shares of PepGen in a report on Wednesday, February 25th. They issued an “outperform” rating and a $15.00 price objective for the company.

PepGen Stock Performance

PEPG opened at $1.35 on Tuesday. The company has a market capitalization of $93.38 million, a P/E ratio of -0.77 and a beta of 1.93. The company has a 50-day moving average of $1.73 and a 200-day moving average of $4.31. PepGen has a 1-year low of $1.01 and a 1-year high of $7.80.

PepGen (NASDAQ:PEPG) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.05. As a group, sell-side analysts expect that PepGen will post -1.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PEPG. Heights Capital Management Inc. bought a new stake in shares of PepGen during the 3rd quarter valued at about $46,000. Burkehill Global Management LP bought a new position in PepGen in the third quarter worth about $46,000. China Universal Asset Management Co. Ltd. boosted its stake 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 valued at $73,000 after acquiring an additional 5,453 shares during the period. Jefferies Financial Group Inc. acquired a new position in PepGen in the fourth quarter valued at approximately $89,000. Finally, Militia Capital Partners LP bought a new position in shares of PepGen during the third quarter valued at approximately $72,000. 58.01% of the stock is currently owned by institutional investors.

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).