HC Wainwright Reiterates Buy Rating for PepGen (NASDAQ:PEPG)

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

PEPG has been the subject of a number of other research reports. Wedbush reissued an “outperform” rating and issued a $20.00 price objective on shares of PepGen in a research report on Wednesday, July 31st. Bank of America cut PepGen from a “buy” rating to a “neutral” rating and set a $12.00 price target for the company. in a report on Wednesday, July 31st.

PepGen Stock Down 11.0 %

Shares of NASDAQ:PEPG traded down $0.62 during midday trading on Friday, reaching $5.01. The company had a trading volume of 179,601 shares, compared to its average volume of 117,158. PepGen has a 1-year low of $3.72 and a 1-year high of $19.30. The stock has a market cap of $163.28 million, a PE ratio of -1.52 and a beta of 1.76. The business’s 50 day moving average price is $8.49 and its 200 day moving average price is $12.22.

PepGen (NASDAQ:PEPG) last posted its quarterly earnings results 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). On average, research analysts expect that PepGen will post -3.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PepGen

Institutional investors and hedge funds have recently modified their holdings of the stock. RA Capital Management L.P. grew its position in shares of PepGen by 31.5% in the first quarter. RA Capital Management L.P. now owns 10,689,545 shares of the company’s stock valued at $157,136,000 after purchasing an additional 2,557,593 shares during the last quarter. Janus Henderson Group PLC grew its holdings in PepGen by 18.1% in the 1st quarter. Janus Henderson Group PLC now owns 1,166,642 shares of the company’s stock valued at $17,225,000 after buying an additional 178,438 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of PepGen by 68.0% during the first quarter. Vanguard Group Inc. now owns 850,445 shares of the company’s stock worth $12,502,000 after buying an additional 344,266 shares in the last quarter. Sofinnova Investments Inc. boosted its position in shares of PepGen by 11.4% in the second quarter. Sofinnova Investments Inc. now owns 561,128 shares of the company’s stock valued at $8,956,000 after acquiring an additional 57,504 shares during the period. Finally, Artal Group S.A. bought a new stake in shares of PepGen in the first quarter valued at about $2,940,000. 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.