PepGen Inc. (NASDAQ:PEPG) Shares Acquired by Suvretta Capital Management LLC

Suvretta Capital Management LLC increased its stake in shares of PepGen Inc. (NASDAQ:PEPG - Free Report) by 9.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,660,932 shares of the company's stock after purchasing an additional 140,000 shares during the quarter. Suvretta Capital Management LLC owned approximately 5.09% of PepGen worth $14,201,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of PepGen by 68.0% during the first quarter. Vanguard Group Inc. now owns 850,445 shares of the company's stock valued at $12,502,000 after buying an additional 344,266 shares during the last quarter. Janus Henderson Group PLC raised its stake 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 acquiring an additional 178,438 shares in the last quarter. Sofinnova Investments Inc. lifted its position in PepGen by 11.4% during the second quarter. Sofinnova Investments Inc. now owns 561,128 shares of the company's stock valued at $8,956,000 after acquiring an additional 57,504 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in PepGen by 43.6% in the second quarter. Bank of New York Mellon Corp now owns 44,157 shares of the company's stock valued at $705,000 after acquiring an additional 13,397 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in PepGen in the second quarter worth $196,000. 58.01% of the stock is currently owned by hedge funds and other institutional investors.

PepGen Trading Down 1.0 %

Shares of NASDAQ:PEPG traded down $0.05 on Friday, hitting $5.05. 78,917 shares of the company were exchanged, compared to its average volume of 120,939. The firm has a market capitalization of $164.61 million, a P/E ratio of -1.69 and a beta of 1.76. PepGen Inc. has a 1-year low of $4.00 and a 1-year high of $19.30. The stock's 50 day moving average price is $7.21 and its 200 day moving average price is $11.39.

Wall Street Analyst Weigh In

Several analysts have recently commented on PEPG shares. Bank of America decreased their price objective on PepGen from $10.00 to $6.00 and set a "neutral" rating for the company in a report on Monday, November 18th. Wedbush decreased their price target 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, HC Wainwright restated a "buy" rating and set a $26.00 price target on shares of PepGen in a research note on Friday, November 8th.

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.