PepGen, Inc. $PEPG Shares Bought by Squarepoint Ops LLC

Key Points

• Squarepoint Ops LLC increased its PepGen holdings by 260.9% in the second quarter, adding 382,487 shares to own 529,083 shares valued at approximately $952,000.
• Institutional ownership remains significant, with hedge funds and other institutions holding 58.01% of PepGen’s shares; several firms, including ADAR1 Capital and BlackRock, initiated new positions.
• Analyst sentiment is generally positive: six analysts rate PepGen a Buy and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $11.50 versus a recent price near $2.97.

Squarepoint Ops LLC raised its holdings in PepGen, Inc. (NASDAQ:PEPG - Free Report) by 260.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 529,083 shares of the company's stock after purchasing an additional 382,487 shares during the period. Squarepoint Ops LLC owned about 0.76% of PepGen worth $952,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PEPG. ADAR1 Capital Management LLC purchased a new position in shares of PepGen during the 2nd quarter valued at approximately $4,664,000. BlackRock Inc. purchased a new stake in PepGen in the 2nd quarter worth $2,348,000. Commodore Capital LP raised its position in PepGen by 31.6% during the first quarter. Commodore Capital LP now owns 4,475,000 shares of the company's stock worth $7,921,000 after acquiring an additional 1,075,000 shares during the period. Kalehua Capital Management LLC acquired a new position in PepGen during the first quarter worth $1,770,000. Finally, GSA Capital Partners LLP purchased a new position in PepGen during the second quarter valued at $1,535,000. 58.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PEPG shares. Craig Hallum assumed coverage on shares of PepGen in a research report on Tuesday, June 16th. They issued a "buy" rating and a $11.00 target price on the stock. Wall Street Zen raised shares of PepGen from a "sell" rating to a "hold" rating in a research note on Sunday, June 7th. HC Wainwright reiterated a "buy" rating on shares of PepGen in a report on Wednesday, September 9th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of PepGen in a research note on Friday, August 28th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, PepGen presently has an average rating of "Moderate Buy" and an average target price of $11.50.

PepGen Stock Up 2.4%

PepGen stock opened at $2.97 on Friday. The company has a fifty day simple moving average of $2.66 and a 200-day simple moving average of $2.56. The firm has a market capitalization of $205.70 million, a price-to-earnings ratio of -2.27 and a beta of 1.97. PepGen, Inc. has a 52-week low of $1.31 and a 52-week high of $7.80.

PepGen (NASDAQ:PEPG - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.02. On average, research 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 biopharmaceutical company focused on developing medicines for patients with neuromuscular and other serious diseases. The company's platform is designed to use cell-penetrating peptides to enhance the delivery of oligonucleotide therapeutics into muscle and other tissues.

PepGen's development programs include PGN-EDO51, an investigational exon-skipping therapy being developed for Duchenne muscular dystrophy patients who are amenable to exon 51 skipping.

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