Wellington Management Group LLP Boosts Stock Position in PepGen Inc. (NASDAQ:PEPG)

Wellington Management Group LLP lifted its holdings in shares of PepGen Inc. (NASDAQ:PEPG) by 76.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,517 shares of the company’s stock after buying an additional 17,618 shares during the quarter. Wellington Management Group LLP owned approximately 0.12% of PepGen worth $346,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PEPG. Point72 DIFC Ltd acquired a new position in PepGen during the second quarter worth $42,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of PepGen during the third quarter worth about $95,000. Renaissance Technologies LLC purchased a new stake in shares of PepGen during the second quarter worth about $192,000. Marshall Wace LLP acquired a new position in shares of PepGen during the 2nd quarter worth about $196,000. Finally, Rhumbline Advisers lifted its stake in PepGen by 36.1% in the 2nd quarter. Rhumbline Advisers now owns 18,853 shares of the company’s stock valued at $301,000 after buying an additional 5,002 shares in the last quarter. Hedge funds and other institutional investors own 58.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wedbush cut their price objective on PepGen from $19.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Bank of America cut PepGen from a “neutral” rating to an “underperform” rating and set a $3.00 price target for the company. in a research report on Monday, December 16th. Finally, HC Wainwright restated a “buy” rating and issued a $26.00 price objective on shares of PepGen in a report on Friday, November 8th.

PepGen Price Performance

Shares of PepGen stock opened at $3.63 on Friday. The stock’s 50 day simple moving average is $5.96 and its 200-day simple moving average is $10.33. The stock has a market cap of $118.32 million, a P/E ratio of -1.22 and a beta of 1.56. PepGen Inc. has a 1-year low of $2.90 and a 1-year high of $19.30.

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.