ADAR1 Capital Management LLC Purchases 1,570,796 Shares of PepGen, Inc. $PEPG

Key Points

• ADAR1 Capital Management increased its PepGen position by 4,263.6%, purchasing 1,570,796 additional shares and ending the quarter with 1,607,638 shares worth approximately $2.85 million.
• Institutional ownership stands at 58.01%, with several other hedge funds initiating or expanding positions in PepGen during recent quarters.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and $11.50 target price, despite shares opening at $1.83 and remaining near their 52-week low.

ADAR1 Capital Management LLC raised its position in shares of PepGen, Inc. (NASDAQ:PEPG - Free Report) by 4,263.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,607,638 shares of the company's stock after acquiring an additional 1,570,796 shares during the period. ADAR1 Capital Management LLC owned approximately 2.32% of PepGen worth $2,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC purchased a new stake in PepGen during the first quarter valued at $122,000. Woodline Partners LP purchased a new position in shares of PepGen in the 1st quarter worth $1,097,000. Marshall Wace LLP purchased a new position in shares of PepGen in the 2nd quarter worth $44,000. Qube Research & Technologies Ltd bought a new stake in shares of PepGen in the 2nd quarter worth about $81,000. Finally, Bridgeway Capital Management LLC increased its holdings in shares of PepGen by 61.5% in the 2nd quarter. Bridgeway Capital Management LLC now owns 91,923 shares of the company's stock worth $102,000 after buying an additional 35,000 shares during the last quarter. 58.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

PepGen Stock Down 3.7%

Shares of PepGen stock opened at $1.83 on Wednesday. The stock's fifty day moving average is $1.78 and its two-hundred day moving average is $3.31. The company has a market capitalization of $126.58 million, a PE ratio of -1.05 and a beta of 1.88. PepGen, Inc. has a 52 week low of $1.01 and a 52 week high of $7.80.

PepGen (NASDAQ:PEPG - Get Free Report) last released its earnings results on Tuesday, May 12th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.05. As a group, research analysts anticipate that PepGen, Inc. will post -1.2 earnings per share for the current year.

About PepGen

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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