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

Suvretta Capital Management LLC lessened its holdings in PepGen Inc. (NASDAQ:PEPG - Free Report) by 29.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. acquired a new position in PepGen in the fourth quarter worth $26,000. Northern Trust Corp boosted its holdings in PepGen by 5.4% in the fourth quarter. Northern Trust Corp now owns 157,038 shares of the company's stock worth $595,000 after purchasing an additional 7,984 shares during the period. Dimensional Fund Advisors LP lifted its stake in PepGen by 26.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 57,102 shares of the company's stock valued at $216,000 after buying an additional 11,870 shares during the last quarter. Barclays PLC lifted its stake in PepGen by 318.7% in the third quarter. Barclays PLC now owns 21,971 shares of the company's stock valued at $189,000 after buying an additional 16,723 shares during the last quarter. Finally, Corton Capital Inc. bought a new stake in PepGen in the fourth quarter valued at $68,000. Institutional investors and hedge funds own 58.01% of the company's stock.

PepGen Stock Up 3.1%

PEPG stock traded up $0.05 during mid-day trading on Thursday, reaching $1.49. The company had a trading volume of 148,369 shares, compared to its average volume of 823,899. The stock has a market capitalization of $48.59 million, a P/E ratio of -0.50 and a beta of 1.39. PepGen Inc. has a one year low of $0.88 and a one year high of $19.30. The stock's 50-day simple moving average is $1.46 and its two-hundred day simple moving average is $2.70.

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

Insider Activity at PepGen

In related news, CEO James G. Mcarthur acquired 41,500 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The shares were acquired at an average cost of $1.15 per share, for a total transaction of $47,725.00. Following the completion of the purchase, the chief executive officer now directly owns 103,913 shares in the company, valued at $119,499.95. This trade represents a 66.49% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 5.20% of the company's stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright cut their target price on PepGen from $16.00 to $14.00 and set a "buy" rating on the stock in a research note on Friday, May 9th.

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.