PepGen (NASDAQ:PEPG) Price Target Lowered to $5.00 at Wedbush

Key Points

• Wedbush cut its price target on PepGen from $9.00 to $5.00 but maintained an "outperform" rating, while the report notes that the $5 target implies roughly a 254% upside; the consensus analyst view remains a "Moderate Buy" with an average target of $11.80 (five Buys, one Sell).
• PepGen shares plunged 66.6% to $1.41 on heavy volume (11.1M vs. avg. 828k), leaving a market cap of about $97.6M and a 12‑month trading range of $0.88 to $7.80.
• PepGen is a clinical‑stage gene‑editing biotech developing prime‑editing therapies for rare diseases (lead programs PPG‑001 for MPS II and PPG‑002 for MPS I), and institutional investors now own about 58% of the stock with several funds taking new positions recently.

PepGen (NASDAQ:PEPG - Get Free Report) had its target price dropped by Wedbush from $9.00 to $5.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Wedbush's price objective points to a potential upside of 254.11% from the company's previous close.

Several other equities research analysts have also commented on PEPG. Oppenheimer initiated coverage on shares of PepGen in a report on Wednesday, February 25th. They issued an "outperform" rating and a $15.00 price target on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of PepGen in a research note on Thursday, January 22nd. Finally, Guggenheim raised their target price on PepGen from $6.00 to $7.00 and gave the stock a "buy" rating in a report on Wednesday, February 18th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $11.80.

PepGen Stock Down 66.6%

Shares of NASDAQ:PEPG traded down $2.82 during trading on Tuesday, hitting $1.41. The stock had a trading volume of 11,112,957 shares, compared to its average volume of 828,844. PepGen has a 12-month low of $0.88 and a 12-month high of $7.80. The stock has a market capitalization of $97.58 million, a price-to-earnings ratio of -0.60 and a beta of 1.86. The stock has a 50-day simple moving average of $5.60 and a two-hundred day simple moving average of $5.22.

PepGen (NASDAQ:PEPG - Get Free Report) last issued its earnings results on Wednesday, March 4th. The company reported ($0.27) EPS for the quarter, beating analysts' consensus estimates of ($0.40) by $0.13. As a group, sell-side analysts forecast that PepGen will post -2.73 earnings per share for the current year.

Institutional Trading of PepGen

Institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC purchased a new stake in shares of PepGen during the first quarter worth about $122,000. Woodline Partners LP purchased a new position in PepGen in the 1st quarter valued at about $1,097,000. Marshall Wace LLP acquired a new stake in PepGen in the 2nd quarter worth about $44,000. Qube Research & Technologies Ltd purchased a new stake in PepGen during the 2nd quarter worth approximately $81,000. Finally, RBF Capital LLC acquired a new position in shares of PepGen during the second quarter valued at approximately $111,000. Institutional investors and hedge funds own 58.01% of the company's stock.

PepGen Company Profile

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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