HC Wainwright Reiterates Buy Rating for PepGen (NASDAQ:PEPG)

Key Points

• HC Wainwright reiterated its Buy rating on PepGen, while analysts overall give the stock a consensus “Moderate Buy” rating and an average price target of $11.50.
• PepGen shares rose 3.2% to open at $3.21, compared with a 52-week range of $1.31 to $7.80; the company has a market capitalization of approximately $222 million.
• The clinical-stage biotechnology company reported a quarterly loss of $0.26 per share, beating expectations for a $0.28 loss, while institutional investors own approximately 58% of its stock.

PepGen (NASDAQ:PEPG - Get Free Report)'s stock had its "buy" rating restated by HC Wainwright in a research note issued to investors on Wednesday, Benzinga reports.

Other analysts have also recently issued reports about the stock. Wall Street Zen upgraded shares of PepGen from a "sell" rating to a "hold" rating in a research note on Sunday, June 7th. Wedbush decreased their price target on shares of PepGen from $5.00 to $4.00 and set an "outperform" rating for the company in a report on Wednesday, May 13th. Weiss Ratings reiterated a "sell (e+)" rating on shares of PepGen in a research note on Friday, August 28th. Finally, Craig Hallum initiated coverage on PepGen in a research report on Tuesday, June 16th. They issued a "buy" rating and a $11.00 target price on the stock. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.50.

PepGen Stock Up 3.2%

NASDAQ:PEPG opened at $3.21 on Wednesday. The firm has a 50 day moving average of $2.52 and a 200 day moving average of $2.73. PepGen has a 52 week low of $1.31 and a 52 week high of $7.80. The stock has a market capitalization of $222.32 million, a price-to-earnings ratio of -2.45 and a beta of 1.97.

PepGen (NASDAQ:PEPG - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.02. As a group, analysts expect that PepGen will post -1.11 EPS for the current year.

Institutional Trading of PepGen

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Burkehill Global Management LP acquired a new stake in PepGen during the 3rd quarter worth $46,000. Jefferies Financial Group Inc. acquired a new stake in PepGen in the 4th quarter valued at about $89,000. Militia Capital Partners LP purchased a new position in PepGen in the 3rd quarter worth approximately $72,000. ADAR1 Capital Management LLC boosted its holdings in shares of PepGen by 81.0% during the 3rd quarter. ADAR1 Capital Management LLC now owns 36,842 shares of the company's stock worth $170,000 after purchasing an additional 16,490 shares during the last quarter. Finally, Rangeley Capital LLC grew its position in shares of PepGen by 133.3% in the second quarter. Rangeley Capital LLC now owns 35,000 shares of the company's stock valued at $39,000 after purchasing an additional 20,000 shares in the last quarter. Hedge funds and other institutional investors own 58.01% of the company's stock.

About PepGen

PepGen, Inc NASDAQ: PEPG is a clinical-stage biotechnology company headquartered in San Diego, California. The company is developing precision gene editing therapies to address rare genetic diseases by combining advanced prime editing modalities with proprietary delivery technologies. PepGen’s platform is designed to achieve targeted and durable correction of disease-causing mutations in vivo, with the goal of providing long-lasting therapeutic benefit after a single administration.

The company’s lead development programs include PPG-001 for mucopolysaccharidosis type II (Hunter syndrome) and PPG-002 for mucopolysaccharidosis type I (Hurler syndrome).

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