HC Wainwright Cuts PepGen (NASDAQ:PEPG) Price Target to $16.00

PepGen (NASDAQ:PEPG) had its price objective decreased by HC Wainwright from $26.00 to $16.00 in a report issued on Thursday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for PepGen’s FY2029 earnings at ($0.21) EPS.

Several other brokerages have also recently issued reports on PEPG. Bank of America cut PepGen from a “neutral” rating to an “underperform” rating and set a $3.00 price objective on the stock. in a research note on Monday, December 16th. Wedbush decreased their price objective on PepGen from $19.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, November 8th.

PepGen Trading Down 10.4 %

PEPG stock opened at $1.29 on Thursday. The business’s fifty day moving average price is $3.76 and its 200 day moving average price is $7.32. PepGen has a 12-month low of $1.28 and a 12-month high of $19.30. The company has a market capitalization of $42.05 million, a PE ratio of -0.43 and a beta of 1.66.

PepGen (NASDAQ:PEPG) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.87) by $0.21. Research analysts predict that PepGen will post -2.73 EPS for the current fiscal year.

Institutional Investors Weigh In On PepGen

Several hedge funds and other institutional investors have recently made changes to their positions in PEPG. Janus Henderson Group PLC increased its stake in PepGen by 331.2% in the third quarter. Janus Henderson Group PLC now owns 2,336,516 shares of the company’s stock valued at $20,012,000 after purchasing an additional 1,794,641 shares during the last quarter. Suvretta Capital Management LLC boosted its holdings in shares of PepGen by 9.2% in the 3rd quarter. Suvretta Capital Management LLC now owns 1,660,932 shares of the company’s stock valued at $14,201,000 after buying an additional 140,000 shares in the last quarter. Walleye Capital LLC purchased a new position in shares of PepGen in the 3rd quarter valued at $519,000. Wellington Management Group LLP raised its stake in PepGen by 76.9% during the 3rd quarter. Wellington Management Group LLP now owns 40,517 shares of the company’s stock worth $346,000 after acquiring an additional 17,618 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in PepGen by 29.1% in the third quarter. Jane Street Group LLC now owns 27,748 shares of the company’s stock valued at $237,000 after acquiring an additional 6,254 shares during the last quarter. Institutional investors and hedge funds own 58.01% of the company’s stock.

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.