Insider Buying: Passage Bio, Inc. (NASDAQ:PASG) Major Shareholder Buys $19,631.00 in Stock

Passage Bio, Inc. (NASDAQ:PASG) major shareholder Lynx1 Capital Management Lp acquired 29,300 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were purchased at an average price of $0.67 per share, for a total transaction of $19,631.00. Following the purchase, the insider now directly owns 8,883,308 shares of the company’s stock, valued at $5,951,816.36. This represents a 0.33 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock 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 bought 259,998 shares of Passage Bio stock. The stock was purchased at an average price of $0.56 per share, with a total value of $145,598.88.

Passage Bio Price Performance

Shares of NASDAQ PASG opened at $1.13 on Friday. The firm has a market capitalization of $69.80 million, a PE ratio of -0.79 and a beta of 1.20. Passage Bio, Inc. has a 1-year low of $0.45 and a 1-year high of $1.79. The business’s fifty day moving average price is $0.61 and its two-hundred day moving average price is $0.82.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PASG. Canaccord Genuity Group restated a “buy” rating and set a $13.00 price objective on shares of Passage Bio in a research note on Thursday, November 14th. Chardan Capital restated a “buy” rating and issued a $7.00 price target on shares of Passage Bio in a research report on Thursday, November 14th. Wedbush started coverage on shares of Passage Bio in a research note on Friday. They set an “outperform” rating and a $4.00 price objective on the stock. Finally, Rodman & Renshaw began coverage on shares of Passage Bio in a report on Tuesday, September 3rd. They issued a “buy” rating and a $7.00 target price on the stock.

Institutional Trading of Passage Bio

A number of large investors have recently modified their holdings of PASG. Landscape Capital Management L.L.C. bought a new position in Passage Bio in the 3rd quarter worth about $38,000. Geode Capital Management LLC raised its holdings 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 buying an additional 78,406 shares during the last quarter. Erste Asset Management GmbH acquired a new position in shares of Passage Bio during the third quarter worth approximately $1,718,000. Vanguard Group Inc. grew 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 buying an additional 52,656 shares in the last quarter. Finally, Lynx1 Capital Management LP increased its position 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 period. Institutional investors and hedge funds own 53.48% of the company’s stock.

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.