Analysts Set PepGen, Inc. (NASDAQ:PEPG) PT at $11.80

Shares of PepGen, Inc. (NASDAQ:PEPG) have been given a consensus rating of “Moderate Buy” by the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $11.80.

Several equities analysts recently issued reports on PEPG shares. Weiss Ratings restated a “sell (d-)” rating on shares of PepGen in a research report on Tuesday, April 21st. Wedbush decreased their price target on PepGen from $9.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. Oppenheimer initiated coverage on PepGen in a research note on Wednesday, February 25th. They issued an “outperform” rating and a $15.00 price target on the stock. Finally, Guggenheim lifted their price target on PepGen from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th.

Hedge Funds Weigh In On PepGen

Several hedge funds have recently made changes to their positions in PEPG. Rangeley Capital LLC increased its stake in shares of PepGen by 133.3% during the second quarter. Rangeley Capital LLC now owns 35,000 shares of the company’s stock valued at $39,000 after buying an additional 20,000 shares during the period. Marshall Wace LLP purchased a new position in shares of PepGen during the second quarter valued at approximately $44,000. Heights Capital Management Inc. purchased a new position in shares of PepGen during the third quarter valued at approximately $46,000. Burkehill Global Management LP purchased a new position in shares of PepGen during the third quarter valued at approximately $46,000. Finally, Militia Capital Partners LP purchased a new position in shares of PepGen during the third quarter valued at approximately $72,000. 58.01% of the stock is owned by hedge funds and other institutional investors.

PepGen Stock Performance

PEPG stock opened at $1.68 on Friday. PepGen has a 52 week low of $1.01 and a 52 week high of $7.80. The firm’s fifty day moving average is $3.25 and its 200 day moving average is $4.75. The firm has a market cap of $116.20 million, a P/E ratio of -0.70 and a beta of 2.01.

PepGen (NASDAQ:PEPG) last released its earnings results on Thursday, May 14th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.05. As a group, analysts forecast that PepGen will post -1.22 EPS for the current year.

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).