Hedge Funds Are Holding Their Breath on This Biopharma IPO

Several prominent hedge funds disclosed sizable stakes in PepGen, which went public earlier this month.

Carsten Snejbjerg/Bloomberg

Carsten Snejbjerg/Bloomberg

The folks at PepGen certainly showed some courage earlier this month when they chose to proceed with their initial public offering.

On May 5, the development-stage biopharma company sold nine million shares at $12 a pop. It had hoped to offer 7.2 million shares between $13 and $15 a share, according to a regulatory filing.


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