PepGen (NASDAQ:PEPG) Price Target Cut to $16.00 by Analysts at HC Wainwright

PepGen (NASDAQ:PEPG) had its target price reduced by HC Wainwright from $26.00 to $16.00 in a research note issued to investors 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 research firms have also recently weighed in on PEPG. Wedbush cut their price target on shares of PepGen from $19.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Bank of America cut shares of PepGen from a “neutral” rating to an “underperform” rating and set a $3.00 price target on the stock. in a research report on Monday, December 16th.

PepGen Price Performance

Shares of PEPG opened at $1.44 on Thursday. The stock’s 50-day simple moving average is $3.83 and its 200 day simple moving average is $7.50. PepGen has a 52-week low of $1.42 and a 52-week high of $19.30.

PepGen (NASDAQ:PEPG) last announced its earnings results on Thursday, November 7th. The company reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.87) by $0.21. Sell-side analysts anticipate that PepGen will post -2.73 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Janus Henderson Group PLC grew its holdings in PepGen by 331.2% in the third quarter. Janus Henderson Group PLC now owns 2,336,516 shares of the company’s stock worth $20,012,000 after purchasing an additional 1,794,641 shares during the period. Suvretta Capital Management LLC grew its stake 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 worth $14,201,000 after buying an additional 140,000 shares during the last quarter. Walleye Capital LLC purchased a new stake in shares of PepGen in the 3rd quarter worth approximately $519,000. JPMorgan Chase & Co. increased its position in PepGen by 289.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 26,611 shares of the company’s stock valued at $228,000 after buying an additional 19,786 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in PepGen by 76.9% during the third quarter. Wellington Management Group LLP now owns 40,517 shares of the company’s stock valued at $346,000 after buying an additional 17,618 shares during the last quarter. 58.01% of the stock is owned by hedge funds and other institutional investors.

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.