Point72 DIFC Ltd Takes $42,000 Position in PepGen Inc. (NASDAQ:PEPG)

Point72 DIFC Ltd purchased a new stake in shares of PepGen Inc. (NASDAQ:PEPG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,621 shares of the company’s stock, valued at approximately $42,000.

Several other large investors have also recently bought and sold shares of PEPG. RA Capital Management L.P. increased its stake 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 valued at $157,136,000 after buying an additional 2,557,593 shares during the period. Janus Henderson Group PLC increased its stake in shares of PepGen by 18.1% in the first 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 during the last quarter. Vanguard Group Inc. raised its holdings in shares of PepGen by 68.0% during the first quarter. Vanguard Group Inc. now owns 850,445 shares of the company’s stock worth $12,502,000 after acquiring an additional 344,266 shares in the last quarter. Sofinnova Investments Inc. boosted 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 purchasing an additional 57,504 shares during the last quarter. Finally, Artal Group S.A. purchased a new position in PepGen in the first quarter valued at about $2,940,000. 58.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PepGen

In other PepGen news, insider Michelle L. Mellion sold 12,625 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $18.20, for a total transaction of $229,775.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 29,385 shares of company stock worth $532,041. 4.60% of the stock is owned by insiders.

PepGen Stock Performance

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

PepGen (NASDAQ:PEPG) last announced its earnings results on Thursday, August 8th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.15). On average, research analysts predict that PepGen Inc. will post -3.16 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.