Wedbush Has Lowered Expectations for PepGen (NASDAQ:PEPG) Stock Price

PepGen (NASDAQ:PEPG) had its price objective reduced by equities researchers at Wedbush from $9.00 to $5.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s target price would suggest a potential upside of 254.11% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of PepGen in a research report on Thursday, January 22nd. Guggenheim lifted their price objective on PepGen from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Finally, Oppenheimer started coverage on PepGen in a research note on Wednesday, February 25th. They set an “outperform” rating and a $15.00 price objective on the stock. Five investment 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 has a consensus rating of “Moderate Buy” and a consensus target price of $11.80.

PepGen Stock Performance

Shares of NASDAQ PEPG traded down $2.82 during mid-day trading on Tuesday, reaching $1.41. The company’s stock had a trading volume of 11,112,957 shares, compared to its average volume of 828,844. The stock has a 50-day moving average of $5.60 and a two-hundred day moving average of $5.22. The stock has a market capitalization of $97.58 million, a P/E ratio of -0.60 and a beta of 1.86. PepGen has a 1-year low of $0.88 and a 1-year high of $7.80.

PepGen (NASDAQ:PEPG) last announced its quarterly earnings data on Wednesday, March 4th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.13. Analysts predict that PepGen will post -2.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PEPG. RA Capital Management L.P. grew its stake in shares of PepGen by 87.7% in the third quarter. RA Capital Management L.P. now owns 20,064,545 shares of the company’s stock valued at $92,698,000 after buying an additional 9,375,000 shares in the last quarter. Commodore Capital LP acquired a new position in PepGen in the 3rd quarter valued at about $10,891,000. Vivo Capital LLC acquired a new position in PepGen in the 3rd quarter valued at about $10,742,000. Viking Global Investors LP increased its stake in PepGen by 134.9% during the third quarter. Viking Global Investors LP now owns 3,482,434 shares of the company’s stock worth $16,089,000 after purchasing an additional 2,000,000 shares during the period. Finally, Nantahala Capital Management LLC purchased a new stake in PepGen during the fourth quarter worth about $10,072,000. 58.01% of the stock is currently owned by institutional investors and hedge funds.

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).