BlackRock Inc. Buys Shares of 1,304,262 PepGen, Inc. $PEPG

Key Points

• BlackRock acquired 1,304,262 PepGen shares worth approximately $2.35 million, giving it an estimated 1.89% stake in the clinical-stage biotechnology company.
• Other institutional investors also added or increased positions, with institutional ownership now at 58.01% of PepGen’s outstanding shares.
• Analysts have a consensus “Moderate Buy” rating and an $11.50 price target, while PepGen recently reported a quarterly loss of $0.26 per share, slightly better than estimates.

BlackRock Inc. bought a new position in shares of PepGen, Inc. (NASDAQ:PEPG - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,304,262 shares of the company's stock, valued at approximately $2,348,000. BlackRock Inc. owned about 1.89% of PepGen as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of PEPG. Persistent Asset Partners Ltd acquired a new position in PepGen in the 2nd quarter worth about $171,000. GSA Capital Partners LLP acquired a new position in shares of PepGen in the second quarter valued at approximately $1,535,000. Seven Fleet Capital Management LP acquired a new stake in PepGen during the 1st quarter worth approximately $105,000. ADAR1 Capital Management LLC boosted its position in PepGen by 4,263.6% during the 1st quarter. ADAR1 Capital Management LLC now owns 1,607,638 shares of the company's stock worth $2,846,000 after buying an additional 1,570,796 shares during the period. Finally, Kalehua Capital Management LLC bought a new stake in PepGen during the 1st quarter worth approximately $1,770,000. 58.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PEPG shares. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of PepGen in a research note on Friday, August 28th. HC Wainwright reissued a "buy" rating on shares of PepGen in a research note on Thursday, May 21st. Wall Street Zen upgraded PepGen from a "sell" rating to a "hold" rating in a report on Sunday, June 7th. Wedbush lowered their target price on PepGen from $5.00 to $4.00 and set an "outperform" rating for the company in a research report on Wednesday, May 13th. Finally, Craig Hallum assumed coverage on PepGen in a research report on Tuesday, June 16th. They issued a "buy" rating and a $11.00 price target on the stock. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, PepGen currently has a consensus rating of "Moderate Buy" and a consensus price target of $11.50.

PepGen Stock Down 2.2%

PEPG opened at $3.11 on Friday. PepGen, Inc. has a twelve month low of $1.30 and a twelve month high of $7.80. The company has a fifty day moving average of $2.46 and a 200-day moving average of $2.81. The stock has a market cap of $215.40 million, a PE ratio of -2.37 and a beta of 1.97.

PepGen (NASDAQ:PEPG - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) EPS for the quarter, beating analysts' consensus estimates of ($0.28) by $0.02. Sell-side analysts anticipate that PepGen, Inc. will post -1.11 EPS for the current fiscal 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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