Suvretta Capital Management LLC Grows Stock Position in PepGen Inc. (NASDAQ:PEPG)

Suvretta Capital Management LLC boosted its stake in shares of PepGen Inc. (NASDAQ:PEPG) by 9.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,660,932 shares of the company’s stock after acquiring an additional 140,000 shares during the period. Suvretta Capital Management LLC owned 0.05% of PepGen worth $14,201,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Janus Henderson Group PLC grew its position in shares of PepGen by 18.1% during the first quarter. Janus Henderson Group PLC now owns 1,166,642 shares of the company’s stock worth $17,225,000 after buying an additional 178,438 shares in the last quarter. Vanguard Group Inc. grew its holdings in PepGen by 68.0% during 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 in the last quarter. Sofinnova Investments Inc. grew its holdings in 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 acquiring an additional 57,504 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of 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 purchasing an additional 13,397 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of PepGen by 19.9% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 58.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Bank of America lowered their target price on shares of PepGen from $10.00 to $6.00 and set a “neutral” rating for the company in a research note 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 Stock Up 6.7 %

NASDAQ PEPG opened at $5.10 on Friday. The firm’s fifty day moving average price is $7.30 and its 200 day moving average price is $11.43. PepGen Inc. has a 12 month low of $4.00 and a 12 month high of $19.30.

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.