PepGen (NASDAQ:PEPG) Rating Lowered to Sell at Wall Street Zen

PepGen (NASDAQ:PEPG) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday, Wall Street Zen reports.

PEPG has been the subject of a number of other reports. Weiss Ratings raised PepGen from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 22nd. HC Wainwright restated a “buy” rating on shares of PepGen in a research report on Wednesday, September 9th. Finally, Craig Hallum assumed coverage on PepGen in a research note on Tuesday, June 16th. They set a “buy” rating and a $11.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.40.

PepGen Price Performance

Shares of PepGen stock opened at $2.62 on Friday. PepGen has a 1 year low of $1.31 and a 1 year high of $7.80. The company has a market capitalization of $181.46 million, a P/E ratio of -2.00 and a beta of 2.01. The business has a 50 day moving average price of $2.81 and a 200 day moving average price of $2.22.

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

Institutional Trading of PepGen

A number of hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC grew its holdings in PepGen by 260.9% in the 2nd quarter. Squarepoint Ops LLC now owns 529,083 shares of the company’s stock valued at $952,000 after buying an additional 382,487 shares during the period. ADAR1 Capital Management LLC acquired a new position in shares of PepGen during the 2nd quarter valued at about $4,664,000. GSA Capital Partners LLP purchased a new position in shares of PepGen during the 2nd quarter worth about $1,535,000. BlackRock Inc. purchased a new position in shares of PepGen during the 2nd quarter worth about $2,348,000. Finally, Kalehua Capital Management LLC purchased a new position in shares of PepGen during the 1st quarter worth about $1,770,000. 58.01% of the stock is owned by institutional investors and hedge funds.

About PepGen

PepGen Inc is a clinical-stage biotechnology company developing RNA-based therapeutics for severe neuromuscular and genetic diseases. The company’s programs are designed to address conditions caused by genetic mutations by selectively modifying or restoring the production of disease-related proteins.

PepGen’s technology platform, Enhanced Delivery Oligonucleotide (EDO), uses peptide-conjugated phosphorodiamidate morpholino oligomers to improve the delivery of therapeutic oligonucleotides into muscle and other tissues.