Walleye Capital LLC Trims Stake in PepGen Inc. (NASDAQ:PEPG)

Walleye Capital LLC reduced its holdings in shares of PepGen Inc. (NASDAQ:PEPG) by 76.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,418 shares of the company’s stock after selling 46,236 shares during the period. Walleye Capital LLC’s holdings in PepGen were worth $55,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PEPG. Jane Street Group LLC increased its holdings in PepGen by 29.1% during the third quarter. Jane Street Group LLC now owns 27,748 shares of the company’s stock valued at $237,000 after buying an additional 6,254 shares during the last quarter. Barclays PLC increased its holdings in PepGen by 318.7% during the third quarter. Barclays PLC now owns 21,971 shares of the company’s stock valued at $189,000 after buying an additional 16,723 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in PepGen by 289.9% during the third quarter. JPMorgan Chase & Co. now owns 26,611 shares of the company’s stock valued at $228,000 after buying an additional 19,786 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in PepGen during the fourth quarter valued at approximately $26,000. 58.01% of the stock is owned by hedge funds and other institutional investors.

PepGen Price Performance

PEPG opened at $1.53 on Monday. The firm has a market cap of $50.02 million, a P/E ratio of -0.51 and a beta of 1.42. PepGen Inc. has a 1-year low of $0.88 and a 1-year high of $19.30. The company has a 50 day simple moving average of $1.72 and a two-hundred day simple moving average of $3.47.

PepGen (NASDAQ:PEPG) last posted its quarterly earnings results on Monday, February 24th. The company reported ($0.68) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.13. Equities analysts anticipate that PepGen Inc. will post -2.73 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO James G. Mcarthur bought 41,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 8th. The stock was purchased at an average price of $1.15 per share, for a total transaction of $47,725.00. Following the completion of the transaction, the chief executive officer now owns 103,913 shares in the company, valued at $119,499.95. The trade was a 66.49 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and issued a $16.00 price target on shares of PepGen in a research report on Monday, February 24th.

PepGen 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.