Insider Buying: Passage Bio, Inc. (NASDAQ:PASG) Major Shareholder Acquires 29,300 Shares of Stock

Passage Bio, Inc. (NASDAQ:PASG) major shareholder Lynx1 Capital Management Lp acquired 29,300 shares of the stock in a transaction on Wednesday, November 27th. The stock was bought at an average cost of $0.67 per share, with a total value of $19,631.00. Following the completion of the transaction, the insider now owns 8,883,308 shares in the company, valued at $5,951,816.36. This trade represents a 0.33 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Lynx1 Capital Management Lp also recently made the following trade(s):

• On Monday, November 25th, Lynx1 Capital Management Lp purchased 259,998 shares of Passage Bio stock. The shares were bought at an average price of $0.56 per share, for a total transaction of $145,598.88.

Passage Bio Stock Down 11.2 %

Shares of Passage Bio stock traded down $0.08 on Wednesday, hitting $0.67. 399,655 shares of the company’s stock traded hands, compared to its average volume of 270,763. The firm’s 50-day moving average is $0.61 and its 200 day moving average is $0.82. Passage Bio, Inc. has a 52-week low of $0.45 and a 52-week high of $1.79. The stock has a market cap of $41.17 million, a P/E ratio of -0.57 and a beta of 1.20.

Wall Street Analyst Weigh In

Several research firms have issued reports on PASG. Canaccord Genuity Group reaffirmed a “buy” rating and set a $13.00 price objective on shares of Passage Bio in a report on Thursday, November 14th. Chardan Capital reissued a “buy” rating and issued a $7.00 price objective on shares of Passage Bio in a research note on Thursday, November 14th. Finally, Rodman & Renshaw started coverage on shares of Passage Bio in a report on Tuesday, September 3rd. They set a “buy” rating and a $7.00 price objective on the stock.

Institutional Investors Weigh In On Passage Bio

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Passage Bio by 2.6% in 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 during the last quarter. Lynx1 Capital Management LP grew its holdings in shares of Passage Bio by 4.4% during the second quarter. Lynx1 Capital Management LP now owns 5,057,629 shares of the company’s stock worth $4,017,000 after purchasing an additional 211,758 shares during the last quarter. Landscape Capital Management L.L.C. bought a new stake in shares of Passage Bio during the third quarter worth $38,000. Geode Capital Management LLC lifted its stake in shares of Passage Bio by 18.2% during the third quarter. Geode Capital Management LLC now owns 509,516 shares of the company’s stock valued at $357,000 after acquiring an additional 78,406 shares during the period. Finally, Erste Asset Management GmbH acquired a new position in Passage Bio in the third quarter valued at about $1,718,000. 53.48% of the stock is currently owned by institutional investors.

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.