Point72 Asset Management L.P. Has $2.32 Million Stock Holdings in PepGen Inc. (NASDAQ:PEPG)

Point72 Asset Management L.P. lowered its position in shares of PepGen Inc. (NASDAQ:PEPG) by 24.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 145,174 shares of the company’s stock after selling 47,004 shares during the quarter. Point72 Asset Management L.P. owned 0.45% of PepGen worth $2,317,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Acadian Asset Management LLC bought a new stake in shares of PepGen in the first quarter worth $30,000. Point72 DIFC Ltd acquired a new stake in PepGen in the 2nd quarter valued at $42,000. Renaissance Technologies LLC acquired a new position in shares of PepGen during the 2nd quarter worth about $192,000. Marshall Wace LLP bought a new position in shares of PepGen in the 2nd quarter valued at about $196,000. Finally, Rhumbline Advisers increased its position in shares of PepGen by 36.1% in the second quarter. Rhumbline Advisers now owns 18,853 shares of the company’s stock valued at $301,000 after acquiring an additional 5,002 shares during the last quarter. Institutional investors and hedge funds own 58.01% of the company’s stock.

Insider Activity at PepGen

In other PepGen news, insider Michelle L. Mellion sold 3,288 shares of the firm’s 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 29,385 shares of company stock worth $532,041. Insiders own 4.60% of the company’s stock.

PepGen Stock Performance

PepGen stock opened at $9.00 on Friday. The stock has a 50-day simple moving average of $9.88 and a 200 day simple moving average of $13.13. The stock has a market capitalization of $291.75 million, a P/E ratio of -2.77 and a beta of 1.69. PepGen Inc. has a 52 week low of $3.72 and a 52 week high of $19.30.

PepGen (NASDAQ:PEPG) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.15). Research analysts forecast that PepGen Inc. will post -3.16 earnings per share for the current year.

Analysts Set New Price Targets

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

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.