Point72 DIFC Ltd acquired a new position in PepGen Inc. (NASDAQ:PEPG – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,621 shares of the company’s stock, valued at approximately $42,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new stake in shares of PepGen in the first quarter worth about $30,000. Renaissance Technologies LLC acquired a new stake in PepGen in the 2nd quarter worth approximately $192,000. Marshall Wace LLP bought a new stake in PepGen during the second quarter worth approximately $196,000. Rhumbline Advisers raised its position in shares of PepGen by 36.1% in the second quarter. Rhumbline Advisers now owns 18,853 shares of the company’s stock valued at $301,000 after purchasing an additional 5,002 shares during the period. Finally, American Century Companies Inc. raised its position in shares of PepGen by 19.9% in the second quarter. American Century Companies Inc. now owns 20,028 shares of the company’s stock valued at $320,000 after purchasing an additional 3,326 shares during the period. Institutional investors own 58.01% of the company’s stock.
Insiders Place Their Bets
In other news, insider Michelle L. Mellion sold 3,288 shares of PepGen stock in a transaction that occurred on Friday, July 12th. The stock was 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 at this hyperlink. In the last quarter, insiders sold 29,422 shares of company stock worth $532,709. 4.60% of the stock is currently owned by company insiders.
PepGen Price Performance
PepGen (NASDAQ:PEPG – Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.15). Analysts expect that PepGen Inc. will post -3.16 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research analysts recently commented on PEPG shares. Bank of America downgraded shares of PepGen from a “buy” rating to a “neutral” rating and set a $12.00 target price on the stock. in a report on Wednesday, July 31st. HC Wainwright reiterated a “buy” rating and issued a $26.00 price objective on shares of PepGen in a research note on Thursday, August 1st. Finally, Wedbush restated an “outperform” rating and set a $20.00 target price on shares of PepGen in a research note on Wednesday, July 31st.
Read Our Latest Stock Analysis on PepGen
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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