HC Wainwright Issues Pessimistic Forecast for PepGen (NASDAQ:PEPG) Stock Price

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

PEPG has been the subject of several other reports. Bank of America cut shares of PepGen from a “neutral” rating to an “underperform” rating and set a $3.00 price objective for the company. in a report on Monday, December 16th. Wedbush decreased their target price on shares of PepGen from $19.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, November 8th.

PepGen Stock Performance

PEPG stock opened at $1.44 on Thursday. PepGen has a 1-year low of $1.42 and a 1-year high of $19.30. The business has a fifty day moving average price of $3.83 and a 200-day moving average price of $7.50.

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

Institutional Investors Weigh In On PepGen

Hedge funds and other institutional investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. purchased a new position in shares of PepGen in the fourth quarter worth approximately $26,000. Point72 DIFC Ltd bought a new position in PepGen in the second quarter worth approximately $42,000. Allspring Global Investments Holdings LLC purchased a new position in shares of PepGen during the 3rd quarter worth $95,000. XTX Topco Ltd bought a new stake in shares of PepGen during the 3rd quarter valued at $130,000. Finally, Barclays PLC increased its stake in shares of PepGen by 318.7% in the 3rd quarter. Barclays PLC now owns 21,971 shares of the company’s stock worth $189,000 after purchasing an additional 16,723 shares in the last quarter. Hedge funds and other institutional investors 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.