Craig Hallum Begins Coverage on PepGen (NASDAQ:PEPG)

Equities research analysts at Craig Hallum began coverage on shares of PepGen (NASDAQ:PEPG) in a research report issued on Tuesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $11.00 price target on the stock.

A number of other brokerages have also weighed in on PEPG. Wedbush cut their price objective on PepGen from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings downgraded shares of PepGen from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. HC Wainwright reissued a “buy” rating on shares of PepGen in a research report on Thursday, May 21st. Wall Street Zen raised shares of PepGen from a “sell” rating to a “hold” rating in a research report on Sunday, June 7th. Finally, Guggenheim boosted their price objective on shares of PepGen from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, PepGen has a consensus rating of “Moderate Buy” and an average price target of $11.50.

PepGen Stock Performance

Shares of PEPG opened at $1.53 on Tuesday. The firm has a market cap of $105.83 million, a price-to-earnings ratio of -0.87 and a beta of 1.93. PepGen has a fifty-two week low of $1.01 and a fifty-two week high of $7.80. The firm has a 50 day moving average price of $1.59 and a 200-day moving average price of $4.17.

PepGen (NASDAQ:PEPG) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.05. As a group, equities research analysts predict that PepGen will post -1.2 earnings per share for the current year.

Hedge Funds Weigh In On PepGen

A number of institutional investors and hedge funds have recently made changes to their positions in PEPG. Monashee Investment Management LLC purchased a new position in PepGen during the third quarter valued at approximately $1,386,000. Boxer Capital Management LLC bought a new position in shares of PepGen in the third quarter worth about $1,155,000. Commodore Capital LP purchased a new position in shares of PepGen in the third quarter worth $10,891,000. Pictet Asset Management Holding SA lifted its holdings in shares of PepGen by 181.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,352,424 shares of the company’s stock worth $8,804,000 after buying an additional 871,059 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of PepGen by 94.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,202 shares of the company’s stock worth $73,000 after buying an additional 5,453 shares in the last quarter. Hedge funds and other institutional investors own 58.01% of the company’s stock.

About PepGen

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).