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

HC Wainwright reissued their buy rating on shares of PepGen (NASDAQ:PEPG) in a report issued on Wednesday,Benzinga reports.

Several other analysts have also recently weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PepGen in a research report on Friday, August 28th. Wedbush lowered their target price on PepGen from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Craig Hallum started coverage on PepGen in a research report on Tuesday, June 16th. They set a “buy” rating and a $11.00 price target on the stock. Finally, Wall Street Zen upgraded PepGen from a “sell” rating to a “hold” rating in a research report on Sunday, June 7th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.50.

PepGen Trading Down 1.3%

Shares of PepGen stock opened at $2.98 on Wednesday. PepGen has a 12-month low of $1.31 and a 12-month high of $7.80. The company has a market cap of $206.39 million, a P/E ratio of -2.27 and a beta of 1.97. The company’s fifty day simple moving average is $2.59 and its two-hundred day simple moving average is $2.69.

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

Hedge Funds Weigh In On PepGen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PEPG. Burkehill Global Management LP purchased a new stake in PepGen during the 3rd quarter valued at $46,000. Jefferies Financial Group Inc. bought a new stake in PepGen in the 4th quarter worth about $89,000. Militia Capital Partners LP bought a new stake in PepGen in the 3rd quarter worth about $72,000. Trexquant Investment LP purchased a new position in PepGen in the 4th quarter worth about $158,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in PepGen in the 4th quarter worth about $180,000. 58.01% of the stock is owned by 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).