PepGen (NASDAQ:PEPG) Stock Moved Down to Sell by Wall Street Zen

Key Points

• Wall Street Zen downgraded PepGen from “hold” to “sell,” although the broader analyst consensus remains “Moderate Buy,” with five Buy ratings and one Sell rating.
• PepGen shares opened at $2.62, compared with a 52-week range of $1.31 to $7.80. The company has a market capitalization of approximately $181.5 million and reported quarterly EPS of $(0.26), beating estimates of $(0.28).
• Institutional investors own 58.01% of PepGen, with Commodore Capital increasing its stake and several firms—including BlackRock—establishing new positions.

PepGen (NASDAQ:PEPG - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday, Wall Street Zen reports.

Several other analysts have also recently commented on PEPG. Weiss Ratings upgraded shares of PepGen from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, September 22nd. HC Wainwright reiterated a "buy" rating on shares of PepGen in a research note on Wednesday, September 9th. Finally, Craig Hallum initiated coverage on shares of PepGen in a report on Tuesday, June 16th. They set a "buy" rating and a $11.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, PepGen presently has an average rating of "Moderate Buy" and a consensus price target of $11.40.

PepGen Stock Performance

Shares of PEPG stock opened at $2.62 on Friday. PepGen has a fifty-two week low of $1.31 and a fifty-two week high of $7.80. The firm has a market capitalization of $181.46 million, a PE ratio of -2.00 and a beta of 2.01. The stock's 50-day simple moving average is $2.81 and its 200-day simple moving average is $2.23.

PepGen (NASDAQ:PEPG - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.26) EPS for the quarter, topping analysts' consensus estimates of ($0.28) by $0.02. Sell-side analysts forecast that PepGen will post -1.11 earnings per share for the current year.

Institutional Investors Weigh In On PepGen

A number of hedge funds and other institutional investors have recently made changes to their positions in PEPG. Commodore Capital LP increased its holdings in shares of PepGen by 44.2% during the 4th quarter. Commodore Capital LP now owns 3,400,000 shares of the company's stock valued at $22,134,000 after purchasing an additional 1,042,681 shares in the last quarter. ADAR1 Capital Management LLC purchased a new stake in PepGen during the second quarter worth $4,664,000. BlackRock Inc. purchased a new position in PepGen in the second quarter valued at $2,348,000. Kalehua Capital Management LLC purchased a new position in PepGen in the first quarter valued at $1,770,000. Finally, GSA Capital Partners LLP acquired a new position in shares of PepGen in the second quarter worth about $1,535,000. Institutional investors and hedge funds own 58.01% of the company's stock.

About PepGen

PepGen Inc is a clinical-stage biotechnology company developing RNA-based therapeutics for severe neuromuscular and genetic diseases. The company's programs are designed to address conditions caused by genetic mutations by selectively modifying or restoring the production of disease-related proteins.

PepGen's technology platform, Enhanced Delivery Oligonucleotide (EDO), uses peptide-conjugated phosphorodiamidate morpholino oligomers to improve the delivery of therapeutic oligonucleotides into muscle and other tissues.

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