PepGen Inc. (NASDAQ:PEPG) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lowered its position in PepGen Inc. (NASDAQ:PEPG - Free Report) by 29.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 800,000 shares of the company's stock after selling 327,536 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 2.45% of PepGen worth $3,032,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Jane Street Group LLC raised its position in PepGen by 29.1% in the 3rd quarter. Jane Street Group LLC now owns 27,748 shares of the company's stock worth $237,000 after purchasing an additional 6,254 shares during the period. China Universal Asset Management Co. Ltd. bought a new stake in shares of PepGen during the 4th quarter worth approximately $26,000. Dimensional Fund Advisors LP grew its position in PepGen by 26.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 57,102 shares of the company's stock valued at $216,000 after acquiring an additional 11,870 shares during the last quarter. Barclays PLC increased its stake in PepGen by 318.7% in the third quarter. Barclays PLC now owns 21,971 shares of the company's stock worth $189,000 after purchasing an additional 16,723 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of PepGen by 289.9% during the third quarter. JPMorgan Chase & Co. now owns 26,611 shares of the company's stock worth $228,000 after purchasing an additional 19,786 shares during the last quarter. Institutional investors own 58.01% of the company's stock.

Analyst Ratings Changes

Separately, HC Wainwright reissued a "buy" rating and issued a $16.00 price objective on shares of PepGen in a research report on Monday, February 24th.

PepGen Stock Performance

PepGen stock traded down $0.10 during mid-day trading on Monday, reaching $1.49. 31,916 shares of the company were exchanged, compared to its average volume of 817,486. The firm has a market cap of $48.75 million, a P/E ratio of -0.50 and a beta of 1.42. The business has a fifty day moving average of $1.71 and a 200 day moving average of $3.21. PepGen Inc. has a 12-month low of $0.88 and a 12-month high of $19.30.

PepGen (NASDAQ:PEPG - Get Free Report) last posted its earnings results on Monday, February 24th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.13. Sell-side analysts predict that PepGen Inc. will post -2.73 EPS for the current year.

Insider Buying and Selling

In other PepGen news, CEO James G. Mcarthur bought 41,500 shares of PepGen stock in a transaction that occurred on Tuesday, April 8th. The shares were bought at an average cost of $1.15 per share, with a total value of $47,725.00. Following the transaction, the chief executive officer now directly owns 103,913 shares of the company's stock, valued at approximately $119,499.95. This represents a 66.49 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.60% of the stock is currently owned by company insiders.

PepGen 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.