PepGen Inc. (NASDAQ:PEPG) Shares Sold by Suvretta Capital Management LLC

Suvretta Capital Management LLC decreased its stake in shares of PepGen Inc. (NASDAQ:PEPG - Free Report) by 29.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,174,321 shares of the company's stock after selling 486,611 shares during the quarter. Suvretta Capital Management LLC owned approximately 3.60% of PepGen worth $4,451,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. bought a new stake in shares of PepGen during the fourth quarter valued at approximately $26,000. Corton Capital Inc. bought a new stake in PepGen during the 4th quarter valued at $68,000. Deutsche Bank AG raised its position in PepGen by 442.5% during the 4th quarter. Deutsche Bank AG now owns 44,735 shares of the company's stock valued at $170,000 after purchasing an additional 36,489 shares in the last quarter. Barclays PLC lifted its holdings in shares of PepGen by 318.7% in the 3rd quarter. Barclays PLC now owns 21,971 shares of the company's stock worth $189,000 after buying an additional 16,723 shares during the period. Finally, Bank of America Corp DE grew its position in shares of PepGen by 54.7% during the 4th quarter. Bank of America Corp DE now owns 53,868 shares of the company's stock worth $204,000 after buying an additional 19,056 shares in the last quarter. 58.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, HC Wainwright decreased their price objective on PepGen from $16.00 to $14.00 and set a "buy" rating for the company in a report on Friday, May 9th.

PepGen Stock Up 6.0%

PEPG stock traded up $0.09 during trading on Tuesday, hitting $1.58. 184,431 shares of the company's stock traded hands, compared to its average volume of 826,640. The firm has a market capitalization of $51.70 million, a P/E ratio of -0.53 and a beta of 1.39. PepGen Inc. has a 1 year low of $0.88 and a 1 year high of $19.30. The business has a fifty day simple moving average of $1.50 and a two-hundred day simple moving average of $2.72.

PepGen (NASDAQ:PEPG - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.92) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.20). On average, equities research analysts predict that PepGen Inc. will post -2.73 EPS for the current fiscal year.

Insider Activity

In other PepGen news, CEO James G. Mcarthur acquired 41,500 shares of the firm's stock in a transaction dated Tuesday, April 8th. The stock was purchased at an average price of $1.15 per share, for a total transaction of $47,725.00. Following the acquisition, the chief executive officer now owns 103,913 shares in the company, valued at approximately $119,499.95. This trade represents a 66.49% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.20% of the company's stock.

About PepGen

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.