Commodore Capital LP Buys 1,042,681 Shares of PepGen, Inc. $PEPG

Commodore Capital LP lifted its stake in PepGen, Inc. (NASDAQ:PEPG) by 44.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,400,000 shares of the company’s stock after purchasing an additional 1,042,681 shares during the period. PepGen accounts for about 1.5% of Commodore Capital LP’s investment portfolio, making the stock its 25th biggest holding. Commodore Capital LP owned about 4.95% of PepGen worth $22,134,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Monashee Investment Management LLC purchased a new stake in PepGen in the third quarter worth about $1,386,000. Boxer Capital Management LLC purchased a new stake in shares of PepGen in the 3rd quarter worth about $1,155,000. Pictet Asset Management Holding SA increased its stake in shares of PepGen by 181.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,352,424 shares of the company’s stock worth $8,804,000 after acquiring an additional 871,059 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in PepGen by 94.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,202 shares of the company’s stock worth $73,000 after purchasing an additional 5,453 shares during the period. Finally, Heights Capital Management Inc. bought a new position in shares of PepGen during the third quarter valued at approximately $46,000. Hedge funds and other institutional investors own 58.01% of the company’s stock.

PepGen Price Performance

Shares of PEPG opened at $1.70 on Thursday. The firm has a market capitalization of $117.59 million, a P/E ratio of -0.97 and a beta of 1.93. PepGen, Inc. has a one year low of $1.01 and a one year high of $7.80. The business has a fifty day moving average of $1.59 and a 200 day moving average of $4.11.

PepGen (NASDAQ:PEPG) last posted its earnings results on Tuesday, May 12th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.05. Analysts expect that PepGen, Inc. will post -1.2 EPS for the current fiscal year.

Analyst Ratings Changes

PEPG has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of PepGen from a “sell” rating to a “hold” rating in a research note on Sunday, June 7th. Weiss Ratings downgraded shares of PepGen from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. Oppenheimer began coverage on PepGen in a research report on Wednesday, February 25th. They issued an “outperform” rating and a $15.00 price objective on the stock. Craig Hallum initiated coverage on PepGen in a report on Tuesday. They issued a “buy” rating and a $11.00 target price for the company. Finally, Guggenheim boosted their price target on PepGen from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, PepGen has an average rating of “Moderate Buy” and an average target price of $11.50.

PepGen Company Profile

PepGen, Inc (NASDAQ: PEPG) is a clinical-stage biotechnology company headquartered in San Diego, California. The company is developing precision gene editing therapies to address rare genetic diseases by combining advanced prime editing modalities with proprietary delivery technologies. PepGen’s platform is designed to achieve targeted and durable correction of disease-causing mutations in vivo, with the goal of providing long-lasting therapeutic benefit after a single administration.

The company’s lead development programs include PPG-001 for mucopolysaccharidosis type II (Hunter syndrome) and PPG-002 for mucopolysaccharidosis type I (Hurler syndrome).