Renaissance Technologies LLC Buys New Position in PepGen Inc. (NASDAQ:PEPG)

Renaissance Technologies LLC bought a new stake in PepGen Inc. (NASDAQ:PEPG) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 12,000 shares of the company’s stock, valued at approximately $192,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PEPG. RA Capital Management L.P. increased its position in shares of PepGen by 31.5% during the 1st quarter. RA Capital Management L.P. now owns 10,689,545 shares of the company’s stock worth $157,136,000 after purchasing an additional 2,557,593 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of PepGen by 18.1% during the 1st quarter. Janus Henderson Group PLC now owns 1,166,642 shares of the company’s stock worth $17,225,000 after purchasing an additional 178,438 shares during the last quarter. Vanguard Group Inc. increased its position in shares of PepGen by 68.0% during the 1st quarter. Vanguard Group Inc. now owns 850,445 shares of the company’s stock worth $12,502,000 after purchasing an additional 344,266 shares during the last quarter. Artal Group S.A. acquired a new position in shares of PepGen during the 1st quarter worth approximately $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 worth $705,000 after purchasing an additional 13,397 shares during the last quarter. Institutional investors and hedge funds own 58.01% of the company’s stock.

PepGen Trading Up 1.8 %

PEPG stock opened at $8.81 on Friday. The firm has a market capitalization of $285.59 million, a PE ratio of -2.71 and a beta of 1.69. PepGen Inc. has a 1-year low of $3.72 and a 1-year high of $19.30. The business’s 50 day simple moving average is $9.12 and its 200 day simple moving average is $12.89.

PepGen (NASDAQ:PEPG) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.15). As a group, sell-side analysts predict that PepGen Inc. will post -3.16 EPS for the current fiscal year.

Insider Buying and Selling at PepGen

In other PepGen news, insider Michelle L. Mellion sold 12,625 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $18.20, for a total value of $229,775.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold a total of 26,097 shares of company stock valued at $472,725 in the last ninety days. 4.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PEPG has been the topic of several recent analyst reports. 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 PepGen from a “buy” rating to a “neutral” rating and set a $12.00 target price on the stock. in a report on Wednesday, July 31st. Finally, HC Wainwright reissued a “buy” rating and set a $26.00 target price on shares of PepGen in a report on Thursday, August 1st.

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.