Passage Bio, Inc. (NASDAQ:PASG) Major Shareholder Lynx1 Capital Management Lp Buys 373,645 Shares

Passage Bio, Inc. (NASDAQ:PASG) major shareholder Lynx1 Capital Management Lp acquired 373,645 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average cost 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 of the company’s stock, valued at $6,017,019.45. This trade represents a 4.21 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 bought 29,300 shares of Passage Bio stock. The stock was bought at an average cost of $0.67 per share, for a total transaction 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 Price Performance

PASG traded down $0.10 during trading on Tuesday, hitting $0.57. 1,295,352 shares of the stock traded hands, compared to its average volume of 353,931. The firm has a 50-day moving average of $0.67 and a 200 day moving average of $0.74. Passage Bio, Inc. has a 12-month low of $0.45 and a 12-month high of $1.79. The firm has a market capitalization of $35.03 million, a P/E ratio of -0.48 and a beta of 1.43.

Institutional Trading of Passage Bio

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

Analyst Ratings Changes

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