PepGen (NASDAQ:PEPG) Cut to “Underperform” at Bank of America

PepGen (NASDAQ:PEPG) was downgraded by equities researchers at Bank of America from a “neutral” rating to an “underperform” rating in a report issued on Monday,Briefing.com Automated Import reports. They presently have a $3.00 price target on the stock. Bank of America‘s target price would suggest a potential downside of 14.04% from the company’s previous close.

Several other equities research analysts have also recently issued reports on PEPG. HC Wainwright reissued a “buy” rating and issued a $26.00 target price on shares of PepGen in a research report on Friday, November 8th. Wedbush decreased their target price on shares of PepGen from $19.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th.

PepGen Stock Performance

PEPG stock traded down $1.19 on Monday, reaching $3.49. The company had a trading volume of 245,283 shares, compared to its average volume of 128,918. PepGen has a 1 year low of $2.90 and a 1 year high of $19.30. The company’s fifty day moving average is $6.47 and its 200 day moving average is $10.68. The company has a market cap of $113.77 million, a P/E ratio of -1.17 and a beta of 1.56.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 DIFC Ltd bought a new stake in shares of PepGen in the second quarter worth $42,000. Allspring Global Investments Holdings LLC bought a new stake in shares of PepGen in the third quarter worth $95,000. XTX Topco Ltd bought a new stake in shares of PepGen in the third quarter worth $130,000. Barclays PLC increased its stake in shares of PepGen by 318.7% in the third quarter. Barclays PLC now owns 21,971 shares of the company’s stock worth $189,000 after buying an additional 16,723 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in PepGen in the second quarter worth $192,000. 58.01% of the stock is owned by institutional investors and hedge funds.

PepGen Company Profile

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.