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

Suvretta Capital Management LLC lifted its position in shares of PepGen Inc. (NASDAQ:PEPG) by 9.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,660,932 shares of the company’s stock after buying an additional 140,000 shares during the period. Suvretta Capital Management LLC owned approximately 5.09% of PepGen worth $14,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in PepGen by 68.0% during the first quarter. Vanguard Group Inc. now owns 850,445 shares of the company’s stock worth $12,502,000 after acquiring an additional 344,266 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of PepGen by 18.1% during the 1st quarter. Janus Henderson Group PLC now owns 1,166,642 shares of the company’s stock worth $17,225,000 after purchasing an additional 178,438 shares during the period. Sofinnova Investments Inc. increased its position in shares of PepGen by 11.4% during the 2nd quarter. Sofinnova Investments Inc. now owns 561,128 shares of the company’s stock worth $8,956,000 after purchasing an additional 57,504 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in PepGen by 43.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 44,157 shares of the company’s stock valued at $705,000 after buying an additional 13,397 shares during the period. Finally, Marshall Wace LLP acquired a new position in PepGen in the second quarter valued at about $196,000. Hedge funds and other institutional investors own 58.01% of the company’s stock.

PepGen Stock Up 6.7 %

NASDAQ PEPG opened at $5.10 on Friday. The stock has a 50-day moving average of $7.30 and a two-hundred day moving average of $11.43. PepGen Inc. has a 1-year low of $4.00 and a 1-year high of $19.30.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Bank of America dropped their price target on shares of PepGen from $10.00 to $6.00 and set a “neutral” rating for the company in a research report on Monday, November 18th. HC Wainwright reaffirmed a “buy” rating and set a $26.00 price objective on shares of PepGen in a research report on Friday, November 8th. Finally, Wedbush cut their target price on PepGen from $19.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th.

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.