Frazier Life Sciences Management L.P. lowered its position in PepGen Inc. (NASDAQ:PEPG - Free Report) by 53.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 702,694 shares of the company's stock after selling 800,094 shares during the period. Frazier Life Sciences Management L.P. owned 2.16% of PepGen worth $6,008,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of PEPG. Janus Henderson Group PLC raised its stake in shares of PepGen by 331.2% in the third quarter. Janus Henderson Group PLC now owns 2,336,516 shares of the company's stock valued at $20,012,000 after acquiring an additional 1,794,641 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of PepGen by 68.0% in the first quarter. Vanguard Group Inc. now owns 850,445 shares of the company's stock valued at $12,502,000 after acquiring an additional 344,266 shares during the last quarter. Suvretta Capital Management LLC raised its stake in shares of PepGen by 9.2% in the third quarter. Suvretta Capital Management LLC now owns 1,660,932 shares of the company's stock valued at $14,201,000 after acquiring an additional 140,000 shares during the last quarter. Walleye Capital LLC bought a new position in shares of PepGen in the third quarter valued at approximately $519,000. Finally, Sofinnova Investments Inc. raised its stake in shares of PepGen by 11.4% in 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. Institutional investors own 58.01% of the company's stock.
Analyst Ratings Changes
PEPG has been the topic of several research reports. Bank of America reduced their price objective on PepGen from $10.00 to $6.00 and set a "neutral" rating on the stock in a report on Monday, November 18th. HC Wainwright reaffirmed a "buy" rating and set a $26.00 price objective on shares of PepGen in a report on Friday, November 8th. Finally, Wedbush reduced their price objective on PepGen from $19.00 to $12.00 and set an "outperform" rating on the stock in a report on Friday, November 8th.
Get Our Latest Analysis on PepGen
PepGen Stock Down 5.8 %
NASDAQ:PEPG traded down $0.32 during trading hours on Tuesday, hitting $5.16. 98,883 shares of the stock were exchanged, compared to its average volume of 123,065. The company's 50 day moving average is $6.71 and its two-hundred day moving average is $10.89. The company has a market capitalization of $168.20 million, a P/E ratio of -1.73 and a beta of 1.56. PepGen Inc. has a twelve month low of $4.00 and a twelve month high of $19.30.
About PepGen
(
Free Report)
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.
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