JPMorgan Chase & Co. Increases Stake in PepGen Inc. (NASDAQ:PEPG)

JPMorgan Chase & Co. increased its position in shares of PepGen Inc. (NASDAQ:PEPG) by 289.9% during the third quarter, Holdings Channel reports. The institutional investor owned 26,611 shares of the company’s stock after buying an additional 19,786 shares during the quarter. JPMorgan Chase & Co.’s holdings in PepGen were worth $228,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new position in PepGen during the 2nd quarter worth approximately $42,000. American Century Companies Inc. lifted its position in shares of PepGen by 19.9% during the 2nd quarter. American Century Companies Inc. now owns 20,028 shares of the company’s stock worth $320,000 after purchasing an additional 3,326 shares during the last quarter. Jane Street Group LLC lifted its position in shares of PepGen by 29.1% during the 3rd quarter. Jane Street Group LLC now owns 27,748 shares of the company’s stock worth $237,000 after purchasing an additional 6,254 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of PepGen during the third quarter worth $95,000. Finally, Renaissance Technologies LLC purchased a new position in PepGen in the second quarter valued at $192,000. Institutional investors and hedge funds own 58.01% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on PEPG shares. HC Wainwright decreased their price target on PepGen from $26.00 to $16.00 and set a “buy” rating for the company in a report on Thursday. Wedbush decreased their target price on PepGen from $19.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Finally, Bank of America lowered shares of PepGen from a “neutral” rating to an “underperform” rating and set a $3.00 price target on the stock. in a research note on Monday, December 16th.

PepGen Price Performance

NASDAQ PEPG opened at $1.29 on Friday. The company has a fifty day moving average of $3.76 and a two-hundred day moving average of $7.40. The company has a market capitalization of $42.05 million, a PE ratio of -0.43 and a beta of 1.66. PepGen Inc. has a 1 year low of $1.28 and a 1 year high of $19.30.

PepGen (NASDAQ:PEPG) last announced its earnings results on Thursday, November 7th. The company reported ($0.66) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.21. On average, research analysts expect that PepGen Inc. will post -2.73 earnings per share for the current year.

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.