PepGen (NASDAQ:PEPG) Rating Lowered to Underperform at Bank of America

PepGen (NASDAQ:PEPG) was downgraded by Bank of America from a “neutral” rating to an “underperform” rating in a research report issued on Monday, MarketBeat reports. They currently have a $3.00 target price on the stock. Bank of America‘s price objective suggests a potential downside of 30.23% from the stock’s previous close.

PEPG has been the subject of a number of other reports. Wedbush decreased their target price on PepGen from $19.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, November 8th. HC Wainwright reaffirmed a “buy” rating and issued a $26.00 price target on shares of PepGen in a research report on Friday, November 8th.

PepGen Stock Down 4.7 %

PepGen stock opened at $4.30 on Monday. PepGen has a 52-week low of $2.90 and a 52-week high of $19.30. The firm has a market cap of $140.18 million, a PE ratio of -1.44 and a beta of 1.56. The company’s 50 day moving average is $6.26 and its two-hundred day moving average is $10.51.

Hedge Funds Weigh In On PepGen

Several large investors have recently bought and sold shares of PEPG. Point72 DIFC Ltd purchased a new stake in PepGen during the 2nd quarter worth about $42,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of PepGen during the 3rd quarter worth about $95,000. Renaissance Technologies LLC purchased a new stake in PepGen during the second quarter worth approximately $192,000. Marshall Wace LLP acquired a new position in PepGen in the second quarter valued at approximately $196,000. Finally, XTX Topco Ltd purchased a new position in PepGen in the third quarter valued at approximately $130,000. Hedge funds and other institutional investors own 58.01% of the company’s stock.

About PepGen

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.