JPMorgan Chase & Co. Increases Holdings in PepGen Inc. (NASDAQ:PEPG)

JPMorgan Chase & Co. raised its stake in PepGen Inc. (NASDAQ:PEPG) by 289.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,611 shares of the company’s stock after buying an additional 19,786 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.08% of PepGen worth $228,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PEPG. Point72 DIFC Ltd acquired a new position in shares of PepGen during the 2nd quarter valued at about $42,000. American Century Companies Inc. raised its stake in PepGen by 19.9% during the second quarter. American Century Companies Inc. now owns 20,028 shares of the company’s stock worth $320,000 after purchasing an additional 3,326 shares during the period. Jane Street Group LLC boosted its holdings in PepGen by 29.1% in the 3rd quarter. Jane Street Group LLC now owns 27,748 shares of the company’s stock valued at $237,000 after purchasing an additional 6,254 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of PepGen in the 3rd quarter valued at approximately $95,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of PepGen in the 2nd quarter valued at approximately $192,000. 58.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PEPG has been the topic of a number of recent analyst reports. Bank of America cut PepGen from a “neutral” rating to an “underperform” rating and set a $3.00 price objective on the stock. in a report on Monday, December 16th. HC Wainwright decreased their price target on PepGen from $26.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Wedbush lowered their price target on PepGen from $19.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, November 8th.

PepGen Stock Performance

NASDAQ:PEPG opened at $1.29 on Friday. PepGen Inc. has a fifty-two week low of $1.28 and a fifty-two week high of $19.30. The company has a 50 day moving average price of $3.76 and a 200 day moving average price of $7.40. The stock has a market capitalization of $42.05 million, a P/E ratio of -0.43 and a beta of 1.66.

PepGen (NASDAQ:PEPG) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.66) EPS for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.21. Research analysts forecast that PepGen Inc. will post -2.73 earnings per share for the current fiscal year.

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.