Analysts Set PepGen, Inc. (NASDAQ:PEPG) PT at $8.40

Shares of PepGen, Inc. (NASDAQ:PEPG) have received a consensus rating of “Hold” from the six analysts that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $8.40.

Several equities analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of PepGen in a research report on Saturday. HC Wainwright raised their target price on shares of PepGen from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, September 25th. Stifel Nicolaus lifted their price target on shares of PepGen from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, September 25th. Wedbush increased their price objective on PepGen from $7.00 to $9.00 and gave the company an “outperform” rating in a research report on Thursday, September 25th. Finally, Guggenheim reissued a “buy” rating and set a $6.00 price objective on shares of PepGen in a research note on Wednesday, September 24th.

PepGen Stock Performance

Shares of PEPG stock opened at $4.57 on Monday. PepGen has a 1 year low of $0.88 and a 1 year high of $8.33. The business’s fifty day moving average is $2.98 and its 200-day moving average is $1.94. The stock has a market cap of $149.90 million, a PE ratio of -1.54 and a beta of 1.96.

PepGen (NASDAQ:PEPG) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.85) by $0.15. Equities research analysts predict that PepGen will post -2.73 earnings per share for the current year.

Insider Buying and Selling at PepGen

In related news, major shareholder Science Enterprises Plc Oxford purchased 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The shares were purchased at an average price of $3.20 per share, with a total value of $640,000.00. Following the purchase, the insider owned 4,955,388 shares of the company’s stock, valued at $15,857,241.60. This trade represents a 4.21% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 5.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. XTX Topco Ltd acquired a new stake in shares of PepGen during the first quarter valued at approximately $25,000. ADAR1 Capital Management LLC purchased a new position in PepGen during the 1st quarter worth approximately $29,000. Rangeley Capital LLC grew its position in PepGen by 133.3% during the 2nd quarter. Rangeley Capital LLC now owns 35,000 shares of the company’s stock worth $39,000 after purchasing an additional 20,000 shares in the last quarter. Marshall Wace LLP acquired a new stake in PepGen during the 2nd quarter valued at $44,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of PepGen in the second quarter valued at $81,000. 58.01% of the stock is currently owned by institutional investors and hedge funds.

About PepGen

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.