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

Bank of America cut shares of PepGen (NASDAQ:PEPG) from a neutral rating to an underperform rating in a report issued on Monday, MarketBeat reports. Bank of America currently has $3.00 price target on the stock.

A number of other brokerages also recently issued reports on PEPG. Wedbush dropped their price target on shares of PepGen from $19.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. HC Wainwright reiterated a “buy” rating and issued a $26.00 price objective on shares of PepGen in a research note on Friday, November 8th.

PepGen Price Performance

NASDAQ:PEPG opened at $4.06 on Monday. The firm’s 50 day simple moving average is $6.15 and its 200 day simple moving average is $10.47. PepGen has a one year low of $2.90 and a one year high of $19.30. The company has a market cap of $132.34 million, a PE ratio of -1.36 and a beta of 1.56.

Institutional Trading of PepGen

Institutional investors have recently made changes to their positions in the company. Point72 DIFC Ltd purchased a new position in shares of PepGen in the 2nd quarter worth about $42,000. American Century Companies Inc. increased its position in shares of PepGen by 19.9% during the second quarter. American Century Companies Inc. now owns 20,028 shares of the company’s stock valued at $320,000 after buying an additional 3,326 shares during the period. Rhumbline Advisers increased its position in shares of PepGen by 36.1% during the second quarter. Rhumbline Advisers now owns 18,853 shares of the company’s stock valued at $301,000 after buying an additional 5,002 shares during the period. Jane Street Group LLC increased its position in shares of PepGen by 29.1% during the third quarter. Jane Street Group LLC now owns 27,748 shares of the company’s stock valued at $237,000 after buying an additional 6,254 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of PepGen during the third quarter valued at about $95,000. 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.