PepGen (NASDAQ:PEPG - Get Free Report) had its price target dropped by equities research analysts at Wedbush from $19.00 to $12.00 in a report issued on Friday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Wedbush's price target indicates a potential upside of 139.52% from the stock's previous close.
PEPG has been the topic of several other reports. Bank of America lowered shares of PepGen from a "buy" rating to a "neutral" rating and set a $12.00 target price on the stock. in a research report on Wednesday, July 31st. HC Wainwright reaffirmed a "buy" rating and set a $26.00 price objective on shares of PepGen in a report on Friday.
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PepGen Stock Down 11.0 %
Shares of PEPG traded down $0.62 during trading hours on Friday, reaching $5.01. 179,507 shares of the company traded hands, compared to its average volume of 117,158. The stock's fifty day moving average is $8.58 and its 200 day moving average is $12.26. PepGen has a 1-year low of $3.72 and a 1-year high of $19.30.
PepGen (NASDAQ:PEPG - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.15). On average, equities research analysts expect that PepGen will post -3.16 earnings per share for the current year.
Hedge Funds Weigh In On PepGen
Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of PepGen by 68.0% during the first quarter. Vanguard Group Inc. now owns 850,445 shares of the company's stock valued at $12,502,000 after purchasing an additional 344,266 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of PepGen in the 1st quarter valued at $30,000. Janus Henderson Group PLC raised its position in shares of PepGen by 18.1% during the first quarter. Janus Henderson Group PLC now owns 1,166,642 shares of the company's stock worth $17,225,000 after acquiring an additional 178,438 shares during the last quarter. Artal Group S.A. acquired a new position in shares of PepGen during the first quarter valued at $2,940,000. Finally, RA Capital Management L.P. boosted its holdings in PepGen by 31.5% in the first quarter. RA Capital Management L.P. now owns 10,689,545 shares of the company's stock valued at $157,136,000 after acquiring an additional 2,557,593 shares during the last quarter. Institutional investors and hedge funds own 58.01% of the company's stock.
PepGen Company Profile
(
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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.
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