PepGen’s (PEPG) “Buy” Rating Reiterated at HC Wainwright

PepGen (NASDAQ:PEPG)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a report released on Friday,Benzinga reports. They currently have a $26.00 price objective on the stock. HC Wainwright’s target price suggests a potential upside of 418.96% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Bank of America lowered shares of PepGen from a “buy” rating to a “neutral” rating and set a $12.00 price target on the stock. in a research report on Wednesday, July 31st. Wedbush restated an “outperform” rating and set a $20.00 target price on shares of PepGen in a research note on Wednesday, July 31st.

PepGen Stock Down 11.0 %

Shares of NASDAQ:PEPG traded down $0.62 during trading on Friday, reaching $5.01. 179,601 shares of the company traded hands, compared to its average volume of 117,158. The firm has a market capitalization of $163.28 million, a PE ratio of -1.52 and a beta of 1.76. PepGen has a 52 week low of $3.72 and a 52 week high of $19.30. The company’s 50 day moving average is $8.49 and its two-hundred day moving average is $12.22.

PepGen (NASDAQ:PEPG) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.15). As a group, research analysts anticipate that PepGen will post -3.16 EPS for the current year.

Institutional Investors Weigh In On PepGen

A number of hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of PepGen during the 3rd quarter valued at $95,000. Point72 DIFC Ltd acquired a new position in PepGen in the 2nd quarter valued at approximately $42,000. Marshall Wace LLP bought a new position in shares of PepGen during the second quarter valued at $196,000. Sofinnova Investments Inc. lifted its holdings in shares of PepGen by 11.4% during the second quarter. Sofinnova Investments Inc. now owns 561,128 shares of the company’s stock worth $8,956,000 after purchasing an additional 57,504 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of PepGen in the second quarter worth $192,000. 58.01% of the stock is currently owned by institutional investors and hedge funds.

PepGen Company Profile

PepGen Inc, a clinical-stage biotechnology company, focuses on the development of oligonucleotide therapeutics for use in the treatment of severe neuromuscular and neurologic diseases. Its lead product candidate is PGN-EDO51, an EDO peptide that is in Phase 2 clinical trial to treat Duchenne muscular dystrophy (DMD) patients.