Analysts Set PepGen, Inc. (NASDAQ:PEPG) Target Price at $10.00

Shares of PepGen, Inc. (NASDAQ:PEPG) have earned a consensus recommendation of “Hold” from the six brokerages that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $10.00.

Several analysts have recently weighed in on PEPG shares. Guggenheim restated a “buy” rating and issued a $6.00 price objective on shares of PepGen in a report on Wednesday, September 24th. Wall Street Zen raised shares of PepGen from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of PepGen in a research report on Wednesday, October 8th. HC Wainwright boosted their target price on shares of PepGen from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Finally, Stifel Nicolaus increased their target price on shares of PepGen from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, September 25th.

Insider Activity at PepGen

In related news, major shareholder Science Enterprises Plc Oxford acquired 200,000 shares of PepGen stock in a transaction dated Tuesday, September 30th. The stock was acquired at an average cost of $3.20 per share, with a total value of $640,000.00. Following the purchase, the insider directly owned 4,955,388 shares in the company, valued at $15,857,241.60. The trade was a 4.21% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On PepGen

Several hedge funds have recently modified their holdings of PEPG. RA Capital Management L.P. boosted its position in shares of PepGen by 87.7% in the 3rd quarter. RA Capital Management L.P. now owns 20,064,545 shares of the company’s stock valued at $92,698,000 after purchasing an additional 9,375,000 shares during the period. Viking Global Investors LP lifted 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 valued at $16,089,000 after buying an additional 2,000,000 shares in the last quarter. Commodore Capital LP acquired a new position in shares of PepGen in the third quarter worth about $10,891,000. Vivo Capital LLC acquired a new position in shares of PepGen in the third quarter worth about $10,742,000. Finally, Laurion Capital Management LP increased its position in shares of PepGen by 133.4% in the third quarter. Laurion Capital Management LP now owns 1,892,156 shares of the company’s stock worth $8,742,000 after acquiring an additional 1,081,395 shares in the last quarter. 58.01% of the stock is owned by hedge funds and other institutional investors.

PepGen Price Performance

NASDAQ PEPG opened at $5.09 on Friday. PepGen has a 12 month low of $0.88 and a 12 month high of $6.85. The firm has a market capitalization of $166.95 million, a PE ratio of -1.80 and a beta of 1.95. The company’s 50 day simple moving average is $4.32 and its 200 day simple moving average is $2.38.

PepGen (NASDAQ:PEPG) last released its earnings results on Wednesday, November 12th. The company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.11. Sell-side analysts anticipate that PepGen will post -2.73 earnings per share for the current fiscal year.

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.