PepGen (NASDAQ:PEPG) Price Target Cut to $14.00 by Analysts at HC Wainwright

PepGen (NASDAQ:PEPG - Free Report) had its price target cut by HC Wainwright from $16.00 to $14.00 in a research report released on Friday,Benzinga reports. They currently have a buy rating on the stock.

PepGen Trading Down 2.6%

Shares of NASDAQ:PEPG traded down $0.04 on Friday, reaching $1.50. The company had a trading volume of 348,375 shares, compared to its average volume of 825,297. PepGen has a 52-week low of $0.88 and a 52-week high of $19.30. The firm's 50 day simple moving average is $1.61 and its 200-day simple moving average is $2.96. The firm has a market capitalization of $49.08 million, a PE ratio of -0.50 and a beta of 1.39.

PepGen (NASDAQ:PEPG - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.92) earnings per share for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.20). As a group, equities research analysts predict that PepGen will post -2.73 earnings per share for the current year.

Insider Activity

In other news, CEO James G. Mcarthur acquired 41,500 shares of PepGen stock in a transaction that occurred on Tuesday, April 8th. The stock was purchased at an average price of $1.15 per share, for a total transaction of $47,725.00. Following the purchase, the chief executive officer now directly owns 103,913 shares in the company, valued at $119,499.95. The trade was a 66.49% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 5.20% of the company's stock.

Institutional Investors Weigh In On PepGen

Several institutional investors have recently bought and sold shares of the company. RTW Investments LP purchased a new stake in shares of PepGen during the 4th quarter valued at $12,102,000. Millennium Management LLC increased its position in PepGen by 1,033.2% during the 4th quarter. Millennium Management LLC now owns 156,636 shares of the company's stock valued at $594,000 after buying an additional 142,814 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in PepGen during the 4th quarter valued at about $516,000. Bridgeway Capital Management LLC raised its stake in PepGen by 103.1% in the fourth quarter. Bridgeway Capital Management LLC now owns 98,900 shares of the company's stock valued at $375,000 after buying an additional 50,200 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in PepGen by 442.5% in the fourth quarter. Deutsche Bank AG now owns 44,735 shares of the company's stock worth $170,000 after acquiring an additional 36,489 shares in the last quarter. 58.01% of the stock is currently owned by institutional investors and hedge funds.

PepGen Company Profile

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.