Bank of America Cuts PepGen (NASDAQ:PEPG) Price Target to $6.00

PepGen (NASDAQ:PEPG) had its price objective cut by Bank of America from $10.00 to $6.00 in a research report released on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also recently issued reports about the company. HC Wainwright reiterated a “buy” rating and set a $26.00 price target on shares of PepGen in a research report on Friday, November 8th. Wedbush decreased their price target on PepGen from $19.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th.

PepGen Stock Performance

Shares of PepGen stock opened at $4.40 on Monday. The stock’s 50-day simple moving average is $7.76 and its 200 day simple moving average is $11.75. PepGen has a 52-week low of $4.00 and a 52-week high of $19.30. The stock has a market capitalization of $143.42 million, a P/E ratio of -1.48 and a beta of 1.76.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC increased its position in shares of PepGen by 18.1% in the first quarter. Janus Henderson Group PLC now owns 1,166,642 shares of the company’s stock worth $17,225,000 after purchasing an additional 178,438 shares during the last quarter. Vanguard Group Inc. increased its position in shares of PepGen by 68.0% in the first quarter. Vanguard Group Inc. now owns 850,445 shares of the company’s stock worth $12,502,000 after purchasing an additional 344,266 shares during the last quarter. Sofinnova Investments Inc. increased its position in shares of PepGen by 11.4% in the second quarter. Sofinnova Investments Inc. now owns 561,128 shares of the company’s stock worth $8,956,000 after purchasing an additional 57,504 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of PepGen in the first quarter worth approximately $30,000. Finally, American Century Companies Inc. increased its position in shares of PepGen by 19.9% in the second quarter. American Century Companies Inc. now owns 20,028 shares of the company’s stock worth $320,000 after purchasing an additional 3,326 shares during the last quarter. 58.01% of the stock is currently owned by institutional investors.

About PepGen

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.