PepGen (NASDAQ:PEPG) Cut to Sell at Wall Street Zen

PepGen (NASDAQ:PEPG - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Sunday, Wall Street Zen reports.

PEPG has been the topic of several other research reports. Wedbush raised their price objective on PepGen from $4.00 to $10.00 and gave the stock an "outperform" rating in a research note on Wednesday. Guggenheim boosted their price objective on PepGen from $7.00 to $15.00 and gave the company a "buy" rating in a research note on Friday. Bank of America upgraded PepGen from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $2.50 to $6.00 in a research note on Tuesday, November 10th. HC Wainwright reissued a "buy" rating on shares of PepGen in a report on Wednesday, September 9th. Finally, Weiss Ratings upgraded shares of PepGen from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, September 22nd. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, PepGen presently has a consensus rating of "Moderate Buy" and an average price target of $11.40.

PepGen Trading Down 13.5%

PepGen stock traded down $0.68 during trading on Friday, reaching $4.36. The company had a trading volume of 5,899,680 shares, compared to its average volume of 7,713,671. PepGen has a 52 week low of $1.31 and a 52 week high of $7.80. The firm's 50-day simple moving average is $2.80 and its 200 day simple moving average is $2.97. The firm has a market capitalization of $301.97 million, a price-to-earnings ratio of -4.07 and a beta of 2.02.

PepGen (NASDAQ:PEPG - Get Free Report) last released its earnings results on Tuesday, November 10th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.01). On average, analysts predict that PepGen will post -1.13 earnings per share for the current year.

Institutional Trading of PepGen

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Group One Trading LLC purchased a new position in PepGen in the 1st quarter worth approximately $77,000. Seven Fleet Capital Management LP purchased a new stake in PepGen during the 1st quarter valued at approximately $105,000. Rangeley Capital LLC lifted its holdings in shares of PepGen by 88.1% in the first quarter. Rangeley Capital LLC now owns 68,096 shares of the company's stock worth $121,000 after buying an additional 31,896 shares in the last quarter. Persistent Asset Partners Ltd purchased a new position in shares of PepGen in the second quarter worth $171,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of PepGen in the second quarter worth $202,000. Institutional investors own 58.01% of the company's stock.

About PepGen

PepGen is a clinical-stage biotechnology company developing oligonucleotide medicines for people with neuromuscular diseases. Its Enhanced Delivery Oligonucleotide (EDO) platform is designed to help deliver these medicines to muscle tissue. The company's pipeline includes PGN-EDO51, an investigational exon-skipping therapy for Duchenne muscular dystrophy in patients whose genetic mutations are amenable to exon 51 skipping, and PGN-EDODM1, an investigational candidate for myotonic dystrophy type 1.

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