ADAR1 Capital Management LLC Acquires New Shares in PepGen, Inc. $PEPG

Key Points

• ADAR1 Capital Management acquired 2.59 million PepGen shares worth approximately $4.66 million, giving it a 3.74% stake. Institutional investors collectively own 58.01% of the company.
• PepGen shares opened at $3.42, up 7.2%, with a 12-month trading range of $1.13 to $7.80. The company recently reported a quarterly loss of $0.26 per share, beating estimates by $0.02.
• Analysts maintain a generally positive outlook, with six Buy ratings and one Sell rating producing a consensus “Moderate Buy” rating and an average price target of $11.50.

ADAR1 Capital Management LLC acquired a new position in PepGen, Inc. (NASDAQ:PEPG - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,591,085 shares of the company's stock, valued at approximately $4,664,000. ADAR1 Capital Management LLC owned approximately 3.74% of PepGen as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. RA Capital Management L.P. raised its position in PepGen by 87.7% in the 3rd quarter. RA Capital Management L.P. now owns 20,064,545 shares of the company's stock worth $92,698,000 after buying an additional 9,375,000 shares during the last quarter. Commodore Capital LP boosted its holdings in shares of PepGen by 31.6% during the 1st quarter. Commodore Capital LP now owns 4,475,000 shares of the company's stock valued at $7,921,000 after acquiring an additional 1,075,000 shares during the last quarter. Viking Global Investors LP boosted its holdings in shares of PepGen by 134.9% during the 3rd quarter. Viking Global Investors LP now owns 3,482,434 shares of the company's stock valued at $16,089,000 after acquiring an additional 2,000,000 shares during the last quarter. Vivo Capital LLC bought a new stake in shares of PepGen in the third quarter worth approximately $10,742,000. Finally, Laurion Capital Management LP grew its stake in shares of PepGen by 8.5% in the fourth quarter. Laurion Capital Management LP now owns 2,052,133 shares of the company's stock worth $13,359,000 after acquiring an additional 159,977 shares during the period. Hedge funds and other institutional investors own 58.01% of the company's stock.

PepGen Trading Up 7.2%

PEPG opened at $3.42 on Wednesday. The company has a market cap of $236.87 million, a price-to-earnings ratio of -2.61 and a beta of 1.89. The company's 50 day moving average is $2.24 and its 200 day moving average is $2.92. PepGen, Inc. has a 12-month low of $1.13 and a 12-month high of $7.80.

PepGen (NASDAQ:PEPG - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.02. As a group, analysts predict that PepGen, Inc. will post -1.11 EPS for the current fiscal year.

Analyst Ratings Changes

PEPG has been the topic of a number of research analyst reports. Weiss Ratings downgraded shares of PepGen from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, June 2nd. Wall Street Zen raised shares of PepGen from a "sell" rating to a "hold" rating in a research report on Sunday, June 7th. HC Wainwright reiterated a "buy" rating on shares of PepGen in a research note on Thursday, May 21st. Wedbush decreased their target price on shares of PepGen from $5.00 to $4.00 and set an "outperform" rating for the company in a research note on Wednesday, May 13th. Finally, Craig Hallum assumed coverage on PepGen in a report on Tuesday, June 16th. They set a "buy" rating and a $11.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $11.50.

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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