Commodore Capital LP Invests $10.89 Million in PepGen, Inc. $PEPG

Commodore Capital LP bought a new position in shares of PepGen, Inc. (NASDAQ:PEPG) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,357,319 shares of the company’s stock, valued at approximately $10,891,000. Commodore Capital LP owned about 7.19% of PepGen at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Burkehill Global Management LP bought a new position in PepGen during the third quarter worth $46,000. ADAR1 Capital Management LLC increased its holdings in shares of PepGen by 81.0% in the third quarter. ADAR1 Capital Management LLC now owns 36,842 shares of the company’s stock valued at $170,000 after purchasing an additional 16,490 shares during the last quarter. Rangeley Capital LLC raised its position in shares of PepGen by 133.3% in the second quarter. Rangeley Capital LLC now owns 35,000 shares of the company’s stock valued at $39,000 after purchasing an additional 20,000 shares during the period. Two Sigma Investments LP lifted its stake in shares of PepGen by 45.1% during the 3rd quarter. Two Sigma Investments LP now owns 92,493 shares of the company’s stock worth $427,000 after buying an additional 28,753 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in shares of PepGen by 61.5% during the 2nd quarter. Bridgeway Capital Management LLC now owns 91,923 shares of the company’s stock worth $102,000 after buying an additional 35,000 shares during the period. Institutional investors own 58.01% of the company’s stock.

PepGen Price Performance

Shares of NASDAQ PEPG opened at $5.32 on Friday. The business has a fifty day moving average price of $5.85 and a two-hundred day moving average price of $4.92. The stock has a market capitalization of $367.67 million, a PE ratio of -2.21 and a beta of 1.87. PepGen, Inc. has a fifty-two week low of $0.88 and a fifty-two week high of $7.80.

PepGen (NASDAQ:PEPG) last released its earnings results on Wednesday, March 4th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.13. On average, equities analysts expect that PepGen, Inc. will post -2.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Guggenheim raised their price objective on shares of PepGen from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Wall Street Zen upgraded PepGen from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of PepGen in a research report on Thursday, January 22nd. Finally, Oppenheimer assumed coverage on PepGen in a report on Wednesday, February 25th. They set an “outperform” rating and a $15.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $12.60.

PepGen 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).