PepGen, Inc. $PEPG Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in PepGen, Inc. by 59.1%, owning approximately 0.12% of the company after selling over 58,000 shares in the 1st quarter.
• Other institutional investors have increased their holdings in PepGen, with Adage Capital lifting its stake by 68.8% and Millennium Management increasing ownership by 1,033.2% in the previous quarter.
• PepGen’s stock opened at $4.62 recently, having a 52-week low of $0.88 and a high of $9.94, with analysts giving it a consensus rating of "Moderate Buy" and a target price of $8.40.

Goldman Sachs Group Inc. reduced its position in PepGen, Inc. (NASDAQ:PEPG - Free Report) by 59.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,240 shares of the company's stock after selling 58,104 shares during the period. Goldman Sachs Group Inc. owned approximately 0.12% of PepGen worth $57,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Adage Capital Partners GP L.L.C. lifted its stake in shares of PepGen by 68.8% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,350,000 shares of the company's stock valued at $1,897,000 after purchasing an additional 550,000 shares in the last quarter. Woodline Partners LP acquired a new position in shares of PepGen in the 1st quarter valued at about $1,097,000. Millennium Management LLC lifted its stake in shares of PepGen by 1,033.2% in the 4th quarter. Millennium Management LLC now owns 156,636 shares of the company's stock valued at $594,000 after purchasing an additional 142,814 shares in the last quarter. Nuveen LLC acquired a new position in shares of PepGen in the 1st quarter valued at about $139,000. Finally, AQR Capital Management LLC acquired a new position in shares of PepGen in the 1st quarter valued at about $122,000. 58.01% of the stock is owned by institutional investors and hedge funds.

PepGen Stock Down 0.4%

PEPG stock opened at $4.62 on Wednesday. PepGen, Inc. has a 52-week low of $0.88 and a 52-week high of $9.94. The stock's 50 day moving average is $1.71 and its two-hundred day moving average is $1.52. The company has a market capitalization of $151.54 million, a PE ratio of -1.56 and a beta of 1.17.

PepGen (NASDAQ:PEPG - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.85) by $0.15. As a group, sell-side analysts anticipate that PepGen, Inc. will post -2.73 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PEPG. HC Wainwright lifted their price objective on PepGen from $8.00 to $12.00 and gave the company a "buy" rating in a research note on Thursday, September 25th. Guggenheim reissued a "buy" rating and set a $6.00 price target on shares of PepGen in a research report on Wednesday, September 24th. Wedbush boosted their price target on PepGen from $7.00 to $9.00 and gave the stock an "outperform" rating in a research report on Thursday, September 25th. Finally, Stifel Nicolaus boosted their price target on PepGen from $9.00 to $12.00 and gave the stock a "buy" rating in a research report on Thursday, September 25th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $8.40.

PepGen Profile

PepGen Inc, a clinical-stage biotechnology company, focuses on the development of oligonucleotide therapeutics for use in the treatment of severe neuromuscular and neurologic diseases. Its lead product candidate is PGN-EDO51, an EDO peptide that is in Phase 2 clinical trial to treat Duchenne muscular dystrophy (DMD) patients.

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