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

PepGen (NASDAQ:PEPG)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research note issued on Monday,Benzinga reports. They currently have a $16.00 price objective on the stock. HC Wainwright’s price objective indicates a potential upside of 457.49% from the stock’s current price.

A number of other equities analysts have also weighed in on PEPG. Bank of America lowered PepGen from a “neutral” rating to an “underperform” rating and set a $3.00 price objective for the company. in a research note on Monday, December 16th. Wedbush cut their price objective on shares of PepGen from $19.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, November 8th.

PepGen Stock Up 109.5 %

PEPG traded up $1.50 during trading on Monday, hitting $2.87. The company’s stock had a trading volume of 96,556,786 shares, compared to its average volume of 3,053,640. PepGen has a one year low of $1.16 and a one year high of $19.30. The business’s 50 day simple moving average is $2.56 and its 200-day simple moving average is $5.87. The firm has a market cap of $93.56 million, a PE ratio of -1.00 and a beta of 1.53.

PepGen (NASDAQ:PEPG) last posted its quarterly earnings results on Monday, February 24th. The company reported ($0.68) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.13. Equities research analysts expect that PepGen will post -2.73 EPS for the current fiscal year.

Institutional Investors Weigh In On PepGen

Hedge funds have recently made changes to their positions in the company. RTW Investments LP purchased a new position in shares of PepGen in the 4th quarter worth $12,102,000. Janus Henderson Group PLC increased its stake in PepGen by 331.2% during the third quarter. Janus Henderson Group PLC now owns 2,336,516 shares of the company’s stock worth $20,012,000 after acquiring an additional 1,794,641 shares during the last quarter. Millennium Management LLC increased its stake in PepGen by 1,033.2% during the fourth quarter. Millennium Management LLC now owns 156,636 shares of the company’s stock worth $594,000 after acquiring an additional 142,814 shares during the last quarter. Suvretta Capital Management LLC raised its position in PepGen by 9.2% during the third quarter. Suvretta Capital Management LLC now owns 1,660,932 shares of the company’s stock valued at $14,201,000 after purchasing an additional 140,000 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of PepGen in the 4th quarter valued at approximately $516,000. 58.01% of the stock is currently owned by hedge funds and other institutional investors.

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.