PepGen (NASDAQ:PEPG) Stock Lifted to “Hold” by Wall Street Zen

PepGen (NASDAQ:PEPG) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other analysts have also issued research reports about the company. HC Wainwright reaffirmed a “buy” rating on shares of PepGen in a report on Wednesday, September 9th. Weiss Ratings raised PepGen from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 22nd. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, PepGen currently has an average rating of “Moderate Buy” and an average target price of $11.40.

PepGen Stock Performance

NASDAQ PEPG opened at $2.47 on Friday. PepGen has a one year low of $1.31 and a one year high of $7.80. The company has a 50-day simple moving average of $2.67 and a 200-day simple moving average of $3.00. The firm has a market capitalization of $171.07 million, a PE ratio of -1.89 and a beta of 2.02.

PepGen (NASDAQ:PEPG) last released its quarterly earnings data 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. Equities analysts forecast that PepGen will post -1.11 earnings per share for the current year.

Institutional Trading of PepGen

Large investors have recently made changes to their positions in the stock. Squarepoint Ops LLC raised its holdings in shares of PepGen by 260.9% during the second quarter. Squarepoint Ops LLC now owns 529,083 shares of the company’s stock valued at $952,000 after acquiring an additional 382,487 shares during the last quarter. Artia Global Partners LP acquired a new stake in shares of PepGen during the 2nd quarter worth approximately $370,000. AWM Investment Company Inc. bought a new stake in PepGen during the 2nd quarter worth about $1,080,000. ADAR1 Capital Management LLC acquired a new stake in PepGen in the 2nd quarter valued at about $4,664,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in PepGen in the second quarter valued at approximately $202,000. 58.01% of the stock is owned by hedge funds and other institutional investors.

About PepGen

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.