Rhumbline Advisers Raises Stock Holdings in PepGen Inc. (NASDAQ:PEPG)

Rhumbline Advisers boosted its holdings in PepGen Inc. (NASDAQ:PEPG) by 36.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,853 shares of the company’s stock after buying an additional 5,002 shares during the quarter. Rhumbline Advisers owned 0.06% of PepGen worth $301,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. RA Capital Management L.P. raised its position in PepGen by 31.5% in the 1st quarter. RA Capital Management L.P. now owns 10,689,545 shares of the company’s stock worth $157,136,000 after buying an additional 2,557,593 shares during the last quarter. Janus Henderson Group PLC raised its position in PepGen by 18.1% in the 1st quarter. Janus Henderson Group PLC now owns 1,166,642 shares of the company’s stock worth $17,225,000 after buying an additional 178,438 shares during the last quarter. Vanguard Group Inc. raised its position in PepGen by 68.0% in the 1st quarter. Vanguard Group Inc. now owns 850,445 shares of the company’s stock worth $12,502,000 after buying an additional 344,266 shares during the last quarter. Artal Group S.A. purchased a new stake in shares of PepGen during the 1st quarter valued at about $2,940,000. Finally, Bank of New York Mellon Corp increased its position in shares of PepGen by 43.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 44,157 shares of the company’s stock valued at $705,000 after purchasing an additional 13,397 shares during the last quarter. Hedge funds and other institutional investors own 58.01% of the company’s stock.

Insider Buying and Selling at PepGen

In other PepGen news, insider Michelle L. Mellion sold 3,288 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $18.04, for a total transaction of $59,315.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 29,422 shares of company stock valued at $532,709 in the last three months. 4.60% of the stock is currently owned by corporate insiders.

PepGen Trading Up 1.5 %

NASDAQ PEPG opened at $8.82 on Friday. PepGen Inc. has a 12 month low of $3.72 and a 12 month high of $19.30. The stock has a market cap of $285.92 million, a price-to-earnings ratio of -2.71 and a beta of 1.70. The company’s 50 day moving average is $10.40 and its two-hundred day moving average is $13.25.

PepGen (NASDAQ:PEPG) last released its earnings results on Thursday, August 8th. The company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.15). Sell-side analysts forecast that PepGen Inc. will post -3.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PEPG shares. Wedbush reaffirmed an “outperform” rating and set a $20.00 price target on shares of PepGen in a research report on Wednesday, July 31st. Bank of America lowered shares of PepGen from a “buy” rating to a “neutral” rating and set a $12.00 price target for the company. in a research report on Wednesday, July 31st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $26.00 price target on shares of PepGen in a research report on Thursday, August 1st.

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.