Bank of New York Mellon Corp Has $705,000 Stake in PepGen Inc. (NASDAQ:PEPG)

Bank of New York Mellon Corp increased its stake in PepGen Inc. (NASDAQ:PEPG) by 43.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 44,157 shares of the company’s stock after purchasing an additional 13,397 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.14% of PepGen worth $705,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PEPG. RA Capital Management L.P. raised its position in shares of PepGen by 31.5% in the first quarter. RA Capital Management L.P. now owns 10,689,545 shares of the company’s stock valued at $157,136,000 after purchasing an additional 2,557,593 shares during the period. Vanguard Group Inc. raised its holdings in PepGen by 68.0% in the 1st 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 period. Artal Group S.A. bought a new position in PepGen in the 1st quarter worth $2,940,000. Janus Henderson Group PLC lifted its position in 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 acquiring an additional 178,438 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in PepGen during the first quarter valued at about $30,000. Institutional investors own 58.01% of the company’s stock.

PepGen Stock Down 1.6 %

PepGen stock opened at $9.20 on Monday. PepGen Inc. has a 12 month low of $3.72 and a 12 month high of $19.30. The stock has a market cap of $298.24 million, a price-to-earnings ratio of -2.83 and a beta of 1.70. The business has a 50 day moving average price of $11.23 and a two-hundred day moving average price of $13.44.

PepGen (NASDAQ:PEPG) last issued its earnings results on Thursday, August 8th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.15). On average, analysts expect that PepGen Inc. will post -3.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on PEPG. Bank of America lowered PepGen from a “buy” rating to a “neutral” rating and set a $12.00 price objective on the stock. in a research note on Wednesday, July 31st. HC Wainwright reaffirmed a “buy” rating and issued a $26.00 price target on shares of PepGen in a research report on Thursday, August 1st. Finally, Wedbush reissued an “outperform” rating and issued a $20.00 price objective on shares of PepGen in a research report on Wednesday, July 31st.

Insider Transactions at PepGen

In other news, insider Michelle L. Mellion sold 3,288 shares of PepGen stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $18.04, for a total transaction of $59,315.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders sold 29,422 shares of company stock valued at $532,709. Company insiders own 4.60% of the company’s stock.

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.