PepGen (NASDAQ:PEPG) Price Target Lowered to $12.00 at Wedbush

PepGen (NASDAQ:PEPG) had its price objective decreased 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 target price would suggest a potential upside of 134.38% from the stock’s previous close.

PEPG has been the topic of several other reports. Bank of America lowered PepGen from a “buy” rating to a “neutral” rating and set a $12.00 target price on the stock. in a research report on Wednesday, July 31st. HC Wainwright reissued a “buy” rating and set a $26.00 target price on shares of PepGen in a research report on Friday.

PepGen Stock Down 9.1 %

Shares of PepGen 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 capitalization of $166.86 million, a P/E ratio of -1.55 and a beta of 1.76. The company has a 50 day moving average price of $8.58 and a 200 day moving average price of $12.26. PepGen has a 1 year low of $3.72 and a 1 year high of $19.30.

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

Institutional Trading of PepGen

Several large investors have recently made changes to their positions in PEPG. Janus Henderson Group PLC lifted its position in 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 purchasing an additional 178,438 shares during the period. Vanguard Group Inc. grew its stake in PepGen by 68.0% in the 1st quarter. Vanguard Group Inc. now owns 850,445 shares of the company’s stock valued at $12,502,000 after acquiring an additional 344,266 shares during the period. Sofinnova Investments Inc. increased its holdings in 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 in the last quarter. Acadian Asset Management LLC acquired a new position in PepGen during the first quarter worth $30,000. Finally, American Century Companies Inc. lifted its holdings in PepGen by 19.9% during the second quarter. American Century Companies Inc. now owns 20,028 shares of the company’s stock valued at $320,000 after purchasing an additional 3,326 shares in the last quarter. 58.01% of the stock is 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.