Passage Bio (NASDAQ:PASG) Given “Buy” Rating at Chardan Capital

Passage Bio (NASDAQ:PASG)‘s stock had its “buy” rating restated by stock analysts at Chardan Capital in a research report issued on Thursday,Benzinga reports. They currently have a $7.00 price target on the stock.

Other analysts have also recently issued reports about the company. Canaccord Genuity Group reissued a “buy” rating and issued a $13.00 price target on shares of Passage Bio in a research report on Thursday. Rodman & Renshaw initiated coverage on Passage Bio in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $7.00 price target on the stock.

Passage Bio Trading Up 1.4 %

Shares of PASG stock traded up $0.01 during midday trading on Thursday, reaching $0.59. 239,137 shares of the stock were exchanged, compared to its average volume of 262,747. The company’s 50 day moving average is $0.65 and its two-hundred day moving average is $0.88. Passage Bio has a 1 year low of $0.54 and a 1 year high of $1.79. The firm has a market cap of $36.45 million, a PE ratio of -0.44 and a beta of 1.20.

Insider Activity at Passage Bio

In related news, major shareholder Orbimed Advisors Llc sold 63,100 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $0.74, for a total value of $46,694.00. Following the transaction, the insider now directly owns 7,970,900 shares of the company’s stock, valued at approximately $5,898,466. This represents a 0.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Passage Bio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Landscape Capital Management L.L.C. bought a new position in shares of Passage Bio during the 3rd quarter valued at $38,000. Affinity Asset Advisors LLC bought a new position in shares of Passage Bio during the 1st quarter valued at $357,000. Acadian Asset Management LLC lifted its holdings in shares of Passage Bio by 59.0% during the 1st quarter. Acadian Asset Management LLC now owns 961,271 shares of the company’s stock valued at $1,296,000 after buying an additional 356,593 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Passage Bio by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 2,071,538 shares of the company’s stock valued at $2,797,000 after buying an additional 52,656 shares during the period. Finally, Lynx1 Capital Management LP lifted its holdings in shares of Passage Bio by 1,178.1% during the 1st quarter. Lynx1 Capital Management LP now owns 4,845,871 shares of the company’s stock valued at $6,542,000 after buying an additional 4,466,712 shares during the period. 53.48% of the stock is owned by institutional investors.

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.