2,455,800 Shares in Passage Bio, Inc. (NASDAQ:PASG) Purchased by Erste Asset Management GmbH

Erste Asset Management GmbH bought a new stake in Passage Bio, Inc. (NASDAQ:PASG) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,455,800 shares of the company’s stock, valued at approximately $1,718,000. Erste Asset Management GmbH owned approximately 3.98% of Passage Bio at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Lynx1 Capital Management LP grew its stake in Passage Bio by 4.4% in the 2nd quarter. Lynx1 Capital Management LP now owns 5,057,629 shares of the company’s stock valued at $4,017,000 after acquiring an additional 211,758 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of Passage Bio in the third quarter valued at approximately $38,000. Vanguard Group Inc. increased its stake in shares of Passage Bio by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 2,071,538 shares of the company’s stock worth $2,797,000 after purchasing an additional 52,656 shares in the last quarter. Finally, Vestal Point Capital LP raised its position in shares of Passage Bio by 0.8% during the 3rd quarter. Vestal Point Capital LP now owns 6,100,000 shares of the company’s stock worth $4,270,000 after purchasing an additional 48,000 shares during the last quarter. 53.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Lynx1 Capital Management Lp acquired 259,998 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $0.56 per share, for a total transaction of $145,598.88. Following the acquisition, the insider now directly owns 8,686,953 shares in the company, valued at approximately $4,864,693.68. This represents a 3.09 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Orbimed Advisors Llc sold 63,100 shares of Passage Bio stock in a transaction on Monday, September 16th. The shares were sold at an average price of $0.74, for a total value of $46,694.00. Following the completion of the transaction, the insider now owns 7,970,900 shares in the company, valued at $5,898,466. The trade was a 0.79 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.

Passage Bio Trading Down 11.9 %

Passage Bio stock opened at $0.89 on Wednesday. The stock has a fifty day moving average price of $0.63 and a 200 day moving average price of $0.81. Passage Bio, Inc. has a 52 week low of $0.45 and a 52 week high of $1.79.

Analyst Ratings Changes

A number of equities research analysts have commented on PASG shares. Chardan Capital reiterated a “buy” rating and set a $7.00 target price on shares of Passage Bio in a report on Thursday, November 14th. Wedbush began coverage on Passage Bio in a research note on Friday, November 29th. They set an “outperform” rating and a $4.00 price objective on the stock. Rodman & Renshaw initiated coverage on shares of Passage Bio in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $7.00 target price for the company. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $13.00 target price on shares of Passage Bio in a report on Thursday, November 14th.

About Passage Bio

Passage Bio, Inc, a genetic medicines company, develops gene therapies for central nervous system diseases. It develops PBGM01, a functional GLB1 gene encoding ß-galactosidase for infantile GM1; PBFT02, a functional granulin (GRN) and gene encoding progranulin (PGRN) for the treatment of FTD caused by progranulin deficiency; and PBKR03, a functional GALC gene encoding the hydrolytic enzyme galactosylceramidase for infantile Krabbe disease.