Renaissance Technologies LLC Makes New Investment in PepGen Inc. (NASDAQ:PEPG)

Renaissance Technologies LLC bought a new stake in PepGen Inc. (NASDAQ:PEPG) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,000 shares of the company’s stock, valued at approximately $192,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC increased its stake in shares of PepGen by 18.1% in the first quarter. Janus Henderson Group PLC now owns 1,166,642 shares of the company’s stock valued at $17,225,000 after buying an additional 178,438 shares in the last quarter. Vanguard Group Inc. boosted its holdings in PepGen by 68.0% in the first quarter. Vanguard Group Inc. now owns 850,445 shares of the company’s stock valued at $12,502,000 after acquiring an additional 344,266 shares during the last quarter. Acadian Asset Management LLC bought a new position in PepGen in the first quarter valued at about $30,000. American Century Companies Inc. boosted its holdings in 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 acquiring an additional 3,326 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in 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 acquiring an additional 5,002 shares during the last quarter. 58.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Michelle L. Mellion sold 12,625 shares of PepGen stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $18.20, for a total transaction of $229,775.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold 26,097 shares of company stock worth $472,725 in the last 90 days. Corporate insiders own 4.60% of the company’s stock.

PepGen Trading Up 1.8 %

Shares of PEPG opened at $8.81 on Friday. PepGen Inc. has a 1 year low of $3.72 and a 1 year high of $19.30. The stock has a market cap of $285.59 million, a P/E ratio of -2.71 and a beta of 1.69. The stock’s 50-day moving average price is $9.12 and its two-hundred day moving average price is $12.89.

PepGen (NASDAQ:PEPG) last issued its earnings results on Thursday, August 8th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.15). As a group, equities analysts forecast that PepGen Inc. will post -3.16 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PEPG. Bank of America cut PepGen from a “buy” rating to a “neutral” rating and set a $12.00 price target on the stock. in a report on Wednesday, July 31st. HC Wainwright reiterated a “buy” rating and issued a $26.00 price target on shares of PepGen in a report on Thursday, August 1st. Finally, Wedbush reiterated an “outperform” rating and issued a $20.00 price target on shares of PepGen in a report on Wednesday, July 31st.

PepGen Company 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.