PepGen (NASDAQ:PEPG) Stock Rating Lowered by Bank of America

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

Several other equities analysts also recently weighed in on the company. Wedbush dropped their target price on PepGen from $19.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. HC Wainwright reaffirmed a “buy” rating and issued a $26.00 price target on shares of PepGen in a report on Friday, November 8th.

PepGen Trading Down 25.4 %

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

Institutional Investors Weigh In On PepGen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PEPG. Janus Henderson Group PLC raised its stake in shares of 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 purchasing an additional 1,794,641 shares during the last quarter. Suvretta Capital Management LLC grew its holdings in shares of PepGen by 9.2% in the 3rd quarter. Suvretta Capital Management LLC now owns 1,660,932 shares of the company’s stock worth $14,201,000 after acquiring an additional 140,000 shares during the period. Walleye Capital LLC acquired a new stake in shares of PepGen in the 3rd quarter worth approximately $519,000. Sofinnova Investments Inc. grew its holdings in shares of PepGen by 11.4% in the 2nd quarter. Sofinnova Investments Inc. now owns 561,128 shares of the company’s stock worth $8,956,000 after acquiring an additional 57,504 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of PepGen by 76.9% in the 3rd quarter. Wellington Management Group LLP now owns 40,517 shares of the company’s stock worth $346,000 after acquiring an additional 17,618 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.