PepGen (NASDAQ:PEPG) Price Target Cut to $12.00 by Analysts at Wedbush

PepGen (NASDAQ:PEPG) had its price objective lowered by equities researchers at Wedbush from $19.00 to $12.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price objective indicates a potential upside of 134.38% from the stock’s previous close.

PEPG has been the subject of several other reports. HC Wainwright reaffirmed a “buy” rating and set a $26.00 target price on shares of PepGen in a report on Friday. Bank of America cut shares of PepGen from a “buy” rating to a “neutral” rating and set a $12.00 price objective for the company. in a research note on Wednesday, July 31st.

PepGen Stock Performance

Shares of PEPG stock traded down $0.51 on Friday, reaching $5.12. The stock had a trading volume of 16,616 shares, compared to its average volume of 116,407. The stock has a market cap of $166.86 million, a P/E ratio of -1.55 and a beta of 1.76. PepGen has a 1 year low of $3.72 and a 1 year high of $19.30. The company has a 50 day simple moving average of $8.58 and a 200 day simple moving average of $12.26.

PepGen (NASDAQ:PEPG) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.15). On average, equities research analysts anticipate that PepGen will post -3.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its stake in shares of PepGen by 18.1% during the first quarter. Janus Henderson Group PLC now owns 1,166,642 shares of the company’s stock valued at $17,225,000 after acquiring an additional 178,438 shares in the last quarter. Vanguard Group Inc. raised its position in PepGen by 68.0% during the 1st quarter. Vanguard Group Inc. now owns 850,445 shares of the company’s stock valued at $12,502,000 after purchasing an additional 344,266 shares in the last quarter. Sofinnova Investments Inc. increased its stake in shares of PepGen by 11.4% during the second quarter. Sofinnova Investments Inc. now owns 561,128 shares of the company’s stock valued at $8,956,000 after buying an additional 57,504 shares during the period. Acadian Asset Management LLC bought a new stake in shares of PepGen in the first quarter valued at about $30,000. Finally, American Century Companies Inc. lifted its stake in PepGen by 19.9% in the second quarter. American Century Companies Inc. now owns 20,028 shares of the company’s stock worth $320,000 after acquiring an additional 3,326 shares during the period. Hedge funds and other institutional investors own 58.01% of the company’s stock.

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.