PepGen, Inc. (NASDAQ:PEPG) Stock Has Consensus Price Target of $11.40 According to Brokerages

Key Points

• PepGen has a “Moderate Buy” consensus from six analysts, with five buy ratings and one sell rating. The average 12-month price target is $11.40, substantially above the stock’s recent price of $2.41.
• Institutional investors and hedge funds own approximately 58.01% of PepGen; several funds recently initiated or increased positions, including Squarepoint Ops, which raised its stake by 260.9%.
• PepGen reported quarterly EPS of -$0.26, beating the consensus estimate of -$0.28. Analysts expect a full-year loss of approximately $1.11 per share as the clinical-stage biotechnology company continues developing genetic medicines for neuromuscular diseases.

Shares of PepGen, Inc. (NASDAQ:PEPG - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $11.40.

A number of equities research analysts have commented on PEPG shares. Weiss Ratings raised shares of PepGen from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, September 22nd. HC Wainwright reiterated a "buy" rating on shares of PepGen in a research report on Wednesday, September 9th. Finally, Wall Street Zen lowered shares of PepGen from a "hold" rating to a "sell" rating in a report on Saturday, October 10th.

Institutional Trading of PepGen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PEPG. Squarepoint Ops LLC grew its position in shares of PepGen by 260.9% during the 2nd quarter. Squarepoint Ops LLC now owns 529,083 shares of the company's stock worth $952,000 after buying an additional 382,487 shares during the period. Artia Global Partners LP acquired a new position in PepGen in the second quarter valued at approximately $370,000. AWM Investment Company Inc. acquired a new position in PepGen in the second quarter valued at approximately $1,080,000. ADAR1 Capital Management LLC bought a new position in PepGen in the second quarter valued at approximately $4,664,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in PepGen in the second quarter valued at approximately $202,000. 58.01% of the stock is currently owned by institutional investors and hedge funds.

PepGen Price Performance

NASDAQ PEPG opened at $2.41 on Friday. The stock's 50 day simple moving average is $2.77 and its 200 day simple moving average is $3.09. PepGen has a one year low of $1.31 and a one year high of $7.80. The firm has a market cap of $166.92 million, a PE ratio of -1.84 and a beta of 2.01.

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

About PepGen

PepGen Inc is a clinical-stage biotechnology company developing genetic medicines for serious neuromuscular diseases. The company's technology is designed to improve the delivery of oligonucleotide therapeutics into skeletal and cardiac muscle, with the goal of addressing diseases caused by genetic mutations or abnormal RNA processing.

PepGen's platform, known as Enhanced Delivery Oligonucleotides (EDO), combines therapeutic oligonucleotides with proprietary peptides intended to facilitate their distribution into muscle tissue.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.