600,000 Shares in PepGen, Inc. $PEPG Purchased by AWM Investment Company Inc.

Key Points

• AWM Investment Company acquired 600,000 PepGen shares worth approximately $1.08 million, representing about 0.87% of the biotechnology company. Other hedge funds also initiated or increased positions, with institutional investors collectively owning 58.01% of the stock.
• Analyst sentiment is broadly positive: six analysts rate PepGen a Buy and one rates it Sell, producing a consensus “Moderate Buy” rating and an average price target of $11.50. Recent targets range from $4.00 to $11.00.
• PepGen shares opened at $3.42, compared with a 12-month range of $1.13 to $7.80. The clinical-stage biotech reported a quarterly loss of $0.26 per share, beating estimates for a $0.28 loss, while developing gene-editing therapies for rare genetic diseases.

AWM Investment Company Inc. acquired a new position in shares of PepGen, Inc. (NASDAQ:PEPG - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 600,000 shares of the company's stock, valued at approximately $1,080,000. AWM Investment Company Inc. owned approximately 0.87% of PepGen at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. AQR Capital Management LLC purchased a new stake in shares of PepGen during the first quarter worth approximately $122,000. Woodline Partners LP acquired a new position in PepGen in the 1st quarter valued at $1,097,000. Marshall Wace LLP purchased a new position in PepGen in the 2nd quarter valued at $44,000. Qube Research & Technologies Ltd purchased a new position in PepGen in the 2nd quarter valued at $81,000. Finally, Bridgeway Capital Management LLC boosted its stake in PepGen by 61.5% during the 2nd quarter. Bridgeway Capital Management LLC now owns 91,923 shares of the company's stock worth $102,000 after purchasing an additional 35,000 shares during the last quarter. Institutional investors and hedge funds own 58.01% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PEPG. Wall Street Zen upgraded shares of PepGen from a "sell" rating to a "hold" rating in a research report on Sunday, June 7th. Wedbush lowered their price target on shares of PepGen from $5.00 to $4.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings cut shares of PepGen from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, June 2nd. HC Wainwright reiterated a "buy" rating on shares of PepGen in a report on Thursday, May 21st. Finally, Craig Hallum started coverage on shares of PepGen in a research note on Tuesday, June 16th. They issued a "buy" rating and a $11.00 target price on the stock. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $11.50.

PepGen Price Performance

NASDAQ PEPG opened at $3.42 on Wednesday. The firm's 50-day moving average is $2.24 and its two-hundred day moving average is $2.92. PepGen, Inc. has a 12 month low of $1.13 and a 12 month high of $7.80. The stock has a market capitalization of $236.87 million, a P/E ratio of -2.61 and a beta of 1.89.

PepGen (NASDAQ:PEPG - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.26) earnings per share for the quarter, topping analysts' consensus estimates of ($0.28) by $0.02. As a group, analysts anticipate that PepGen, Inc. will post -1.11 EPS for the current year.

PepGen Profile

PepGen, Inc NASDAQ: PEPG is a clinical-stage biotechnology company headquartered in San Diego, California. The company is developing precision gene editing therapies to address rare genetic diseases by combining advanced prime editing modalities with proprietary delivery technologies. PepGen’s platform is designed to achieve targeted and durable correction of disease-causing mutations in vivo, with the goal of providing long-lasting therapeutic benefit after a single administration.

The company’s lead development programs include PPG-001 for mucopolysaccharidosis type II (Hunter syndrome) and PPG-002 for mucopolysaccharidosis type I (Hurler syndrome).

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