TPI Composites files for Chapter 11 bankruptcy, plans delisting from Nasdaq
In a turbulent market environment, PepGen Inc. (PEPG) stock has tumbled to a 52-week low, reaching a price level of just $1.14. With a current market capitalization of $41 million, this significant downturn reflects a stark contrast from its previous performance, with the biotechnology firm’s shares experiencing a precipitous 1-year change, plummeting by an alarming -89.49%. According to InvestingPro analysis, while the stock shows high volatility, it maintains a strong balance sheet with more cash than debt and a healthy current ratio of 7.4x. Investors have been closely monitoring PepGen’s trajectory, as the company grapples with the challenges that have led to this notable decline in its stock value. The current price point marks a critical juncture for the company, as stakeholders consider the implications of this 52-week low and the potential pathways for recovery or further descent. Notably, analyst price targets range from $3 to $20, suggesting significant upside potential. InvestingPro’s Fair Value analysis indicates the stock is currently undervalued, with 13 additional real-time insights available to subscribers.
In other recent news, PepGen Inc. announced the temporary suspension of its Phase 2 CONNECT2-EDO51 study for Duchenne muscular dystrophy (DMD) as it awaits results from a lower-dose cohort of its ongoing CONNECT1-EDO51 study. The company is focusing on the completion of CONNECT1 to refine the CONNECT2 study design based on forthcoming data. PepGen also shared promising initial data from its FREEDOM-DM1 Phase 1 trial of PGN-EDODM1, showing significant splicing correction in patients with myotonic dystrophy type 1 (DM1) after a single dose. These results are notable as they offer a potential new therapeutic option for DM1, which currently has no approved treatments.
In executive news, PepGen’s Chief Medical (TASE:BLWV) Officer, Michelle L. Mellion, MD, resigned, effective April 4, 2025, with no disagreements cited with the company. Stifel analysts recently reduced PepGen’s stock price target to $14 from $17, maintaining a Buy rating, following updates on their DM1 treatment and fourth-quarter earnings of 2024. Meanwhile, H.C. Wainwright also adjusted its price target for PepGen to $16, down from $26, while maintaining a Buy rating. This revision reflects concerns over safety signals in the CONNECT1-EDO51 Phase 2 clinical trial, particularly regarding asymptomatic hypomagnesemia and its implications for the DMD program. As PepGen navigates these developments, investors are closely monitoring the company’s strategic decisions and regulatory interactions.
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