Passage Bio, Inc. (NASDAQ:PASG) Major Shareholder Acquires $145,598.88 in Stock

Passage Bio, Inc. (NASDAQ:PASG) major shareholder Lynx1 Capital Management Lp acquired 259,998 shares of the company’s stock in a transaction on Monday, November 25th. The stock was bought at an average cost of $0.56 per share, with a total value of $145,598.88. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Large 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 Wednesday, November 27th, Lynx1 Capital Management Lp purchased 29,300 shares of Passage Bio stock. The stock was bought at an average price of $0.67 per share, for a total transaction of $19,631.00.

Passage Bio Stock Down 11.2 %

Passage Bio stock opened at $0.67 on Thursday. The stock has a market cap of $41.17 million, a PE ratio of -0.57 and a beta of 1.20. Passage Bio, Inc. has a 12-month low of $0.45 and a 12-month high of $1.79. The business’s 50-day moving average price is $0.61 and its two-hundred day moving average price is $0.82.

Institutional Investors Weigh In On Passage Bio

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vestal Point Capital LP boosted its position in Passage Bio by 0.8% in the third quarter. Vestal Point Capital LP now owns 6,100,000 shares of the company’s stock valued at $4,270,000 after buying an additional 48,000 shares in the last quarter. Lynx1 Capital Management LP lifted its stake in shares of 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. Erste Asset Management GmbH acquired a new stake in shares of Passage Bio during the 3rd quarter valued at $1,718,000. Vanguard Group Inc. grew its position in 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 acquiring an additional 52,656 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Passage Bio by 18.2% in the 3rd quarter. Geode Capital Management LLC now owns 509,516 shares of the company’s stock worth $357,000 after purchasing an additional 78,406 shares in the last quarter. 53.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Passage Bio Company Profile

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.