PepGen Inc. (PEPG)
NASDAQ:PEPG
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PepGen Inc.
(NASDAQ:PEPG)
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Rating:44Neutral
Price Target:
$1.50
▼(-17.58% Downside)
Action:ReiteratedDate:04/01/26
The score is held down primarily by weak financial performance (no revenue, large recurring losses, and significant cash burn) and bearish technicals (price far below key moving averages with negative MACD). Corporate updates provide some support (runway into 2H 2027 and pipeline progress), but the FDA partial clinical hold and limited valuation anchors keep the overall profile below average.
Positive Factors
Proprietary EDO delivery platform
PepGen's EDO delivery platform addresses a persistent, structural barrier for oligonucleotide therapies: effective delivery to muscle and nuclei. Durable technical differentiation in uptake gives the company a platform advantage across multiple neuromuscular targets, supporting longer-term pipeline expansion and higher probability of clinical translation versus 'naked' oligos.
Negative Factors
No revenue; sustained large losses
PepGen remains a pre-revenue developer with large, persistent operating losses. This structural lack of revenue means long-term viability depends on successful clinical outcomes or external funding. Continued losses erode equity and raise dilution risk, making capital access and execution consistency critical durable risks for shareholders.
Read all positive and negative factors
Positive Factors
Negative Factors
Proprietary EDO delivery platform
PepGen's EDO delivery platform addresses a persistent, structural barrier for oligonucleotide therapies: effective delivery to muscle and nuclei. Durable technical differentiation in uptake gives the company a platform advantage across multiple neuromuscular targets, supporting longer-term pipeline expansion and higher probability of clinical translation versus 'naked' oligos.
Read all positive factors
PepGen Inc. (PEPG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$125.79M
Dividend YieldN/A
Average Volume (3M)6.68M
Price to Earnings (P/E)―
Beta (1Y)0.81
Revenue GrowthN/A
EPS Growth4.71%
CountryUS
Employees79
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.27
Shares Outstanding69,115,295
10 Day Avg. Volume930,736
30 Day Avg. Volume6,679,177
Financial Highlights & Ratios
PEG Ratio0.12
Price to Book (P/B)1.86
Price to Sales (P/S)0.00
P/FCF Ratio-3.36
Enterprise Value/Market Cap0.57
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-51.48
Enterprise Value/Ebitda-0.78
Forecast
1Y Price Target
$10.33Price Target Upside467.58% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)-1.15
Revenue Forecast (FY)N/A
PepGen Inc. Business Overview & Revenue Model
Company Description
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. The company's lead product candidate is PGN-EDO51, an EDO pep...
How the Company Makes Money
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PepGen Inc. Earnings Call Summary
Earnings Call Date:Mar 06, 2024
(Q4-2023)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Positive
The earnings call highlighted significant progress in clinical trials and a strong financial position due to recent funding, as well as regulatory advancements such as FDA fast track designation. However, there were challenges with increased expenses and a notable net loss for the year. Despite these financial lowlights, the clinical and regulatory achievements present a strong positive outlook.Positive Updates
Clinical Trial Progress
Completed enrollment for cohort 1 in CONNECT1-EDO51 evaluating 5 mg per kg dose in DMD patients in the Phase II clinical trial. Clearance received from MHRA in the U.K. to initiate CONNECT2-EDO51, a Phase II study of EDO51.
Negative Updates
Increased Expenses
Research and development expenses increased to $68.1 million for the full year 2023, attributed to advancement of PGN-ED051 and PGN-EDODM1 programs.
Read all updates
Q4-2023 Updates
Positive
Negative
Clinical Trial Progress
Completed enrollment for cohort 1 in CONNECT1-EDO51 evaluating 5 mg per kg dose in DMD patients in the Phase II clinical trial. Clearance received from MHRA in the U.K. to initiate CONNECT2-EDO51, a Phase II study of EDO51.
Read all positive updates
Company Guidance
During the PepGen Q4 2023 earnings call, the company provided guidance on several key metrics and developments. They highlighted the initiation of clinical trials for their EDO cell-penetrating peptide platform targeting Duchenne Muscular Dystrophy (DMD) and myotonic dystrophy type 1 (DM1). PepGen's lead program, PGN-EDO51, aims to treat DMD with an exon 51-skipping approach, targeting approximately 13% of DMD patients in the U.S. and EU. They completed enrollment for cohort 1 in CONNECT1-EDO51 at a 5 mg per kg dose and anticipate escalating to 10 mg per kg pending safety reviews. The company expects preliminary data for the 5 mg per kg cohort by mid-2024, with projections suggesting high dystrophin production levels. For DM1, the FDA lifted a clinical hold on EDODM1, which received fast track designation. The FREEDOM-DM1 Phase I trial began dosing in December 2023, and PepGen aims to report preliminary data in the second half of 2024. Financially, PepGen reported a net loss of $19.5 million for Q4 and $78.6 million for the full year, with research and development expenses totaling $68.1 million in 2023. Following a stock offering in early 2024, they are positioned to fund operations into 2026.PepGen Inc. Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
56
Neutral
Cash Flow
24
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -1.40M | -1.50M | -1.18M | 0.00 | 0.00 |
| EBITDA | -92.22M | -89.09M | -83.58M | -67.81M | -26.93M |
| Net Income | -89.66M | -89.98M | -78.63M | -69.10M | -27.28M |
Balance Sheet | |||||
| Total Assets | 173.91M | 150.88M | 143.05M | 217.44M | 143.64M |
| Cash, Cash Equivalents and Short-Term Investments | 148.46M | 120.19M | 110.41M | 181.75M | 132.90M |
| Total Debt | 17.00M | 18.66M | 20.10M | 24.53M | 0.00 |
| Total Liabilities | 26.46M | 32.26M | 34.63M | 37.81M | 10.55M |
| Stockholders Equity | 147.44M | 118.62M | 108.42M | 179.63M | 133.09M |
Cash Flow | |||||
| Free Cash Flow | -81.90M | -82.87M | -71.60M | -63.02M | -23.10M |
| Operating Cash Flow | -81.64M | -82.37M | -69.00M | -59.27M | -22.60M |
| Investing Cash Flow | -15.23M | -37.67M | -32.00M | -3.75M | -500.00K |
| Financing Cash Flow | 107.98M | 88.75M | -189.00K | 112.19M | 147.66M |
PepGen Inc. Technical Analysis
Negative
1.82
Price Trends
5.27
Negative
5.47
Negative
3.97
Negative
Market Momentum
-0.97
Positive
19.96
Positive
10.95
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PEPG, the sentiment is Negative. The current price of 1.82 is below the 20-day moving average (MA) of 4.48, below the 50-day MA of 5.27, and below the 200-day MA of 3.97, indicating a bearish trend. The MACD of -0.97 indicates Positive momentum. The RSI at 19.96 is Positive, neither overbought nor oversold. The STOCH value of 10.95 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PEPG.
PepGen Inc. Risk Analysis
PepGen Inc. disclosed 96 risk factors in its most recent earnings report. PepGen Inc. reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
PepGen Inc. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $375.65M | -2.29 | -65.76% | ― | ― | 18.39% | |
49 Neutral | $427.48M | -63.66 | -67.33% | ― | ― | 4.97% | |
47 Neutral | $505.53M | -1.92 | -90.52% | ― | -34.92% | -43.26% | |
44 Neutral | $125.79M | -3.07 | -75.73% | ― | ― | 4.71% | |
44 Neutral | $266.21M | -1.14 | -523.29% | ― | -24.90% | 7.19% |
* Healthcare Sector Average
PEPG
PepGen Inc.
1.82
0.82
82.00%
RCKT
Rocket Pharmaceuticals
3.46
-1.33
-27.77%
EDIT
Editas Medicine
2.72
1.74
177.55%
LYEL
Lyell Immunopharma
21.69
13.43
162.59%
LXEO
Lexeo Therapeutics, Inc.
5.77
3.95
217.03%
PepGen Inc. Corporate Events
Business Operations and StrategyProduct-Related Announcements
PepGen Reports Early Phase 2 FREEDOM2-DM1 Topline Data
Neutral
Mar 30, 2026
On March 30, 2026, PepGen reported topline data from the lowest 5 mg/kg multiple ascending dose cohort of its Phase 2 FREEDOM2-DM1 trial of PGN-EDODM1 in myotonic dystrophy type 1, showing the drug was generally well tolerated with only mild or mo...
Business Operations and StrategyProduct-Related Announcements
PepGen Updates EDO Platform and DM1 Program Outlook
Positive
Mar 4, 2026
On March 4, 2026, PepGen Inc. released an updated corporate presentation detailing progress on its EDO platform and lead candidate PGN-EDODM1 for myotonic dystrophy type 1, highlighting best-in-class potential based on high levels of splicing corr...
Business Operations and StrategyExecutive/Board ChangesFinancial DisclosuresLegal ProceedingsRegulatory Filings and Compliance
PepGen Faces FDA Partial Hold Amid Ongoing FREEDOM2 Trial
Negative
Mar 4, 2026
On March 4, 2026, PepGen reported fourth-quarter and full-year 2025 results and disclosed that the U.S. Food and Drug Administration had placed a partial clinical hold on the U.S. arm of its Phase 2 FREEDOM2-DM1 trial of PGN-EDODM1, citing questio...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.