Passage Bio, Inc. (NASDAQ:PASG) Major Shareholder Acquires $242,869.25 in Stock

Passage Bio, Inc. (NASDAQ:PASGGet Free Report) major shareholder Lynx1 Capital Management Lp acquired 373,645 shares of the stock in a transaction dated Friday, December 27th. The stock was bought at an average price of $0.65 per share, with a total value of $242,869.25. Following the purchase, the insider now directly owns 9,256,953 shares in the company, valued at $6,017,019.45. This represents a 4.21 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases 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, with a total value of $19,631.00.
  • On Monday, November 25th, Lynx1 Capital Management Lp acquired 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 Performance

PASG stock opened at $0.83 on Friday. The business has a 50-day simple moving average of $0.67 and a two-hundred day simple moving average of $0.74. The company has a market capitalization of $51.27 million, a P/E ratio of -0.71 and a beta of 1.43. Passage Bio, Inc. has a 52-week low of $0.45 and a 52-week high of $1.79.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Landscape Capital Management L.L.C. purchased a new stake in Passage Bio in the 3rd quarter valued at $38,000. Geode Capital Management LLC grew its stake in shares of 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 acquiring an additional 78,406 shares in the last quarter. Erste Asset Management GmbH bought a new stake in shares of Passage Bio in the 3rd quarter worth $1,718,000. Lynx1 Capital Management LP raised its holdings in shares of Passage Bio by 4.4% in the second quarter. Lynx1 Capital Management LP now owns 5,057,629 shares of the company’s stock valued at $4,017,000 after purchasing an additional 211,758 shares during the last quarter. Finally, Vestal Point Capital LP lifted its position in shares of Passage Bio by 0.8% during the third quarter. Vestal Point Capital LP now owns 6,100,000 shares of the company’s stock valued at $4,270,000 after purchasing an additional 48,000 shares in the last quarter. Hedge funds and other institutional investors own 53.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wedbush began coverage on Passage Bio in a research report on Friday, November 29th. They issued an “outperform” rating and a $4.00 target price for the company. Canaccord Genuity Group restated a “buy” rating and set a $13.00 price objective on shares of Passage Bio in a report on Thursday, November 14th. Finally, Chardan Capital reiterated a “buy” rating and issued a $7.00 target price on shares of Passage Bio in a report on Thursday, November 14th.

Check Out Our Latest Stock Analysis on Passage Bio

Passage Bio Company Profile

(Get Free Report)

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.

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