PepGen (NASDAQ:PEPG - Get Free Report) was downgraded by research analysts at Bank of America from a "neutral" rating to an "underperform" rating in a report released on Monday, Marketbeat Ratings reports. They presently have a $3.00 price target on the stock. Bank of America's price target points to a potential downside of 33.48% from the company's current price.
A number of other research firms also recently issued reports on PEPG. Wedbush cut their price objective on shares of PepGen from $19.00 to $12.00 and set an "outperform" rating for the company in a report on Friday, November 8th. HC Wainwright reissued a "buy" rating and set a $26.00 price target on shares of PepGen in a research report on Friday, November 8th.
View Our Latest Report on PepGen
PepGen Stock Performance
PEPG traded down $0.17 on Monday, reaching $4.51. The company had a trading volume of 468,705 shares, compared to its average volume of 130,216. The company's fifty day moving average is $6.47 and its 200 day moving average is $10.68. The stock has a market cap of $147.03 million, a P/E ratio of -1.17 and a beta of 1.56. PepGen has a fifty-two week low of $2.90 and a fifty-two week high of $19.30.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in PEPG. Janus Henderson Group PLC boosted its position 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 buying an additional 1,794,641 shares in the last quarter. Suvretta Capital Management LLC increased its holdings in 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 purchasing an additional 140,000 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of PepGen during the third quarter valued at about $519,000. Sofinnova Investments Inc. grew its holdings in shares of PepGen by 11.4% during 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. Finally, Wellington Management Group LLP increased its stake in shares of PepGen by 76.9% in 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 period. 58.01% of the stock is currently owned by institutional investors and hedge funds.
About PepGen
(
Get Free Report)
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.
Featured Stories
Before you consider PepGen, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PepGen wasn't on the list.
While PepGen currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know?
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
