Craig Hallum Begins Coverage on PepGen (NASDAQ:PEPG)

Stock analysts at Craig Hallum started coverage on shares of PepGen (NASDAQ:PEPG) in a report issued on Tuesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $11.00 price target on the stock.

PEPG has been the topic of several other research reports. Wedbush lowered their target price on shares of PepGen from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Wall Street Zen upgraded shares of PepGen from a “sell” rating to a “hold” rating in a research report on Sunday, June 7th. Guggenheim boosted their price target on shares of PepGen from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Weiss Ratings cut shares of PepGen from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. Finally, Oppenheimer began coverage on shares of PepGen in a research report on Wednesday, February 25th. They issued an “outperform” rating and a $15.00 price target on the stock. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, PepGen has an average rating of “Moderate Buy” and a consensus target price of $11.50.

PepGen Stock Performance

PEPG stock opened at $1.53 on Tuesday. PepGen has a one year low of $1.01 and a one year high of $7.80. The company’s fifty day moving average price is $1.59 and its 200-day moving average price is $4.17. The company has a market capitalization of $105.83 million, a PE ratio of -0.87 and a beta of 1.93.

PepGen (NASDAQ:PEPG) last released its 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. On average, research analysts predict that PepGen will post -1.2 EPS for the current fiscal year.

Institutional Investors Weigh In On PepGen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. RA Capital Management L.P. raised its position in PepGen by 87.7% during the third quarter. RA Capital Management L.P. now owns 20,064,545 shares of the company’s stock valued at $92,698,000 after purchasing an additional 9,375,000 shares during the period. Commodore Capital LP increased its position in PepGen by 31.6% during the first 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 last quarter. Viking Global Investors LP increased its position in PepGen by 134.9% during the third quarter. Viking Global Investors LP now owns 3,482,434 shares of the company’s stock valued at $16,089,000 after acquiring an additional 2,000,000 shares during the last quarter. Vivo Capital LLC bought a new position in PepGen during the third quarter valued at $10,742,000. Finally, Laurion Capital Management LP increased its position in PepGen by 8.5% during the fourth quarter. Laurion Capital Management LP now owns 2,052,133 shares of the company’s stock valued at $13,359,000 after acquiring an additional 159,977 shares during the last quarter. 58.01% of the stock is currently owned by hedge funds and other 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).