PepGen, Inc. (NASDAQ:PEPG) Stock Has Average Target Price of $11.40 According to Brokerages

Shares of PepGen, Inc. (NASDAQ:PEPG) have earned an average rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $11.40.

A number of equities analysts recently weighed in on the stock. Craig Hallum began coverage on shares of PepGen in a research report on Tuesday, June 16th. They set a “buy” rating and a $11.00 price objective for the company. HC Wainwright reissued a “buy” rating on shares of PepGen in a research note on Wednesday, September 9th. Finally, Weiss Ratings raised PepGen from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, September 22nd.

PepGen Trading Up 3.9%

Shares of NASDAQ:PEPG opened at $2.40 on Monday. The business has a 50-day moving average price of $2.78 and a 200 day moving average price of $2.25. The company has a market capitalization of $166.22 million, a price-to-earnings ratio of -1.83 and a beta of 2.01. PepGen has a 12-month low of $1.31 and a 12-month high of $7.80.

PepGen (NASDAQ:PEPG) last posted 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. As a group, equities research analysts predict that PepGen will post -1.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PEPG. Squarepoint Ops LLC lifted its holdings in PepGen by 260.9% during the 2nd quarter. Squarepoint Ops LLC now owns 529,083 shares of the company’s stock worth $952,000 after buying an additional 382,487 shares in the last quarter. Artia Global Partners LP acquired a new position in shares of PepGen in the second quarter worth $370,000. AWM Investment Company Inc. acquired a new position in shares of PepGen in the second quarter worth $1,080,000. ADAR1 Capital Management LLC purchased a new stake in shares of PepGen during the second quarter worth $4,664,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of PepGen during the second quarter worth $202,000. Hedge funds and other institutional investors own 58.01% of the company’s stock.

PepGen Company Profile

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.