Brokerages Set PepGen, Inc. (NASDAQ:PEPG) Target Price at $11.50

PepGen, Inc. (NASDAQ:PEPG) has earned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $11.50.

Several research analysts have recently weighed in on the company. Weiss Ratings cut PepGen from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. Craig Hallum initiated coverage on shares of PepGen in a research report on Tuesday, June 16th. They set a “buy” rating and a $11.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating on shares of PepGen in a research note on Thursday, May 21st. Wedbush decreased 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. Finally, Wall Street Zen raised shares of PepGen from a “sell” rating to a “hold” rating in a research note on Sunday, June 7th.

PepGen Stock Performance

Shares of PEPG stock opened at $3.14 on Friday. PepGen has a fifty-two week low of $1.13 and a fifty-two week high of $7.80. The firm has a market capitalization of $217.48 million, a P/E ratio of -2.40 and a beta of 1.89. The stock’s fifty day moving average is $2.17 and its two-hundred day moving average is $2.96.

PepGen (NASDAQ:PEPG) last issued its earnings results on Thursday, August 6th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.02. On average, equities analysts forecast that PepGen will post -1.11 earnings per share for the current year.

Hedge Funds Weigh In On PepGen

Several large investors have recently modified their holdings of the business. Pictet Asset Management Holding SA raised its holdings in PepGen by 181.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,352,424 shares of the company’s stock valued at $8,804,000 after buying an additional 871,059 shares during the period. GSA Capital Partners LLP purchased a new position in PepGen during the second quarter worth about $1,535,000. Kalehua Capital Management LLC purchased a new position in PepGen during the first quarter worth about $1,770,000. ADAR1 Capital Management LLC increased its position in shares of PepGen by 4,263.6% during the first quarter. ADAR1 Capital Management LLC now owns 1,607,638 shares of the company’s stock valued at $2,846,000 after acquiring an additional 1,570,796 shares during the last quarter. Finally, Commodore Capital LP increased its position in shares of 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. Institutional investors and hedge funds own 58.01% of the company’s stock.

PepGen Company Profile

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).