Adage Capital Partners GP L.L.C. Has $3.03 Million Position in PepGen Inc. (NASDAQ:PEPG)

Adage Capital Partners GP L.L.C. cut its stake in shares of PepGen Inc. (NASDAQ:PEPG - Free Report) by 29.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. 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 approximately 2.45% of PepGen worth $3,032,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in PepGen by 26.2% in the fourth 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. Jane Street Group LLC increased its stake in PepGen by 29.1% during 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 in the last quarter. JPMorgan Chase & Co. raised its holdings in PepGen by 289.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 26,611 shares of the company's stock worth $228,000 after buying an additional 19,786 shares during the period. Barclays PLC lifted its position in PepGen by 318.7% in the 3rd quarter. Barclays PLC now owns 21,971 shares of the company's stock valued at $189,000 after acquiring an additional 16,723 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new position in shares of PepGen during the fourth quarter worth about $26,000. 58.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

PepGen Stock Up 8.2 %

Shares of PEPG traded up $0.12 during mid-day trading on Friday, hitting $1.59. 294,208 shares of the company's stock were exchanged, compared to its average volume of 817,752. PepGen Inc. has a 52 week low of $0.88 and a 52 week high of $19.30. The stock's 50-day simple moving average is $1.71 and its 200-day simple moving average is $3.29. The firm has a market cap of $52.03 million, a price-to-earnings ratio of -0.53 and a beta of 1.42.

PepGen (NASDAQ:PEPG - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The company reported ($0.68) earnings per share for the quarter, beating the consensus estimate of ($0.81) by $0.13. Analysts forecast that PepGen Inc. will post -2.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PepGen news, CEO James G. Mcarthur acquired 41,500 shares of the company's stock in a transaction that occurred on Tuesday, April 8th. The stock was acquired at an average cost of $1.15 per share, for a total transaction of $47,725.00. Following the transaction, the chief executive officer now directly owns 103,913 shares in the company, valued at $119,499.95. This represents a 66.49 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 4.60% of the stock is currently owned by company insiders.

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.