PepGen SC 13G/A / SUVRETTA CAPITAL MANAGEMENT ownership change

SCHEDULE 13G

CUSIP No.

713317105

Names of Reporting Persons

SUVRETTA CAPITAL MANAGEMENT, LLC

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

Sec Use Only

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,174,321.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,174,321.00

Aggregate Amount Beneficially Owned by Each Reporting Person

1,174,321.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in row (9)

3.6 %

Type of Reporting Person (See Instructions)

IA, OO

SCHEDULE 13G

CUSIP No.

713317105

Names of Reporting Persons

Averill Master Fund, Ltd.

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

Sec Use Only

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,174,321.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,174,321.00

Aggregate Amount Beneficially Owned by Each Reporting Person

1,174,321.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in row (9)

3.6 %

Type of Reporting Person (See Instructions)

SCHEDULE 13G

CUSIP No.

713317105

Names of Reporting Persons

Aaron Cowen

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

Sec Use Only

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,174,321.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,174,321.00

Aggregate Amount Beneficially Owned by Each Reporting Person

1,174,321.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in row (9)

3.6 %

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.

(a)

Name of issuer:

PepGen Inc.

(b)

Address of issuer's principal executive offices:

1 Marina Park Drive, Suite 900, Boston, MA 02210

Item 2.

(a)

Name of person filing:

Suvretta Capital Management, LLC Averill Master Fund, Ltd. Aaron Cowen

(b)

Address or principal business office or, if none, residence:

Suvretta Capital Management, LLC 540 Madison Avenue, 7th Floor New York, New York 10022 United States of America Averill Master Fund, Ltd. c/o Maples Corporate Services Limited P.O. Box 309 Ugland House Grand Cayman KY1-1104 Cayman Islands Aaron Cowen c/o Suvretta Capital Management, LLC 540 Madison Avenue, 7th Floor New York, New York 10022

(c)

Citizenship:

Suvretta Capital Management, LLC - Delaware Averill Master Fund, Ltd. - Cayman Islands Aaron Cowen - United States

(d)

Title of class of securities:

Common Stock, par value $0.0001 per share

(e)

CUSIP No.:

713317105

Item 3.

If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

(a)

Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);

(b)

Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);

(c)

Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);

(d)

Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);

(e)

An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f)

An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g)

A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h)

A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i)

A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j)

A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:

(k)

Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

Item 4.

Ownership

(a)

Amount beneficially owned:

Suvretta Capital Management, LLC - 1174321 Averill Master Fund, Ltd. - 1174321 Aaron Cowen - 1174321

(b)

Percent of class:

Suvretta Capital Management, LLC - 3.6% Averill Master Fund, Ltd. - 3.6% Aaron Cowen - 3.6% %

(c)

Number of shares as to which the person has:

(i) Sole power to vote or to direct the vote:

Suvretta Capital Management, LLC - 0 Averill Master Fund, Ltd. - 0 Aaron Cowen - 0

(ii) Shared power to vote or to direct the vote:

Suvretta Capital Management, LLC - 1174321 Averill Master Fund, Ltd. - 1174321 Aaron Cowen - 1174321

(iii) Sole power to dispose or to direct the disposition of:

Suvretta Capital Management, LLC - 0 Averill Master Fund, Ltd. - 0 Aaron Cowen - 0

(iv) Shared power to dispose or to direct the disposition of:

Suvretta Capital Management, LLC - 1174321 Averill Master Fund, Ltd. - 1174321 Aaron Cowen - 1174321

Item 5.

Ownership of 5 Percent or Less of a Class.

Ownership of 5 percent or less of a class

Item 6.

Ownership of more than 5 Percent on Behalf of Another Person.

Not Applicable

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.

Please see Exhibit B attached hereto.

Item 8.

Identification and Classification of Members of the Group.

Not Applicable

Item 9.

Notice of Dissolution of Group.

Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

SUVRETTA CAPITAL MANAGEMENT, LLC

Signature:	/s/ Aaron Cowen
Name/Title:	Aaron Cowen/Authorized Signatory
Date:	02/07/2025

Averill Master Fund, Ltd.

Signature:	/s/ Aaron Cowen
Name/Title:	Aaron Cowen/Director
Date:	02/07/2025

Aaron Cowen

Signature:	/s/ Aaron Cowen
Name/Title:	Aaron Cowen
Date:	02/07/2025

Comments accompanying signature: * Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his, her or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. To the extent that "ownership of 5 percent or less of a class" was indicated in Item 5, such response only applies to the Reporting Person(s) that indicated elsewhere herein that it beneficially owns five percent (5%) or less of the class.

Exhibit Information

[Exhibit A - Joint Filing Agreement] [Exhibit B - Control Person Identification]

PepGen (PEPG) SC 13G/APepGen / SUVRETTA CAPITAL MANAGEMENT ownership change