Lynx1 Capital Management Lp Acquires 29,300 Shares of Passage Bio, Inc. (NASDAQ:PASG) Stock

Passage Bio, Inc. (NASDAQ:PASG) major shareholder Lynx1 Capital Management Lp acquired 29,300 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were bought at an average cost of $0.67 per share, for a total transaction of $19,631.00. Following the completion of the acquisition, the insider now directly owns 8,883,308 shares of the company’s stock, valued at approximately $5,951,816.36. This represents a 0.33 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases 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 shares were bought at an average price of $0.56 per share, with a total value of $145,598.88.

Passage Bio Trading Down 11.2 %

Shares of PASG opened at $0.67 on Friday. The stock has a fifty day moving average price of $0.61 and a two-hundred day moving average price of $0.82. Passage Bio, Inc. has a 52-week low of $0.45 and a 52-week high of $1.79.

Wall Street Analyst Weigh In

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

Institutional Trading of Passage Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in PASG. Landscape Capital Management L.L.C. acquired a new position in Passage Bio during the 3rd quarter worth about $38,000. Geode Capital Management LLC raised its stake in shares of Passage Bio by 18.2% in the third 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 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 stake in shares of Passage Bio by 2.6% during the first quarter. Vanguard Group Inc. now owns 2,071,538 shares of the company’s stock valued at $2,797,000 after purchasing an additional 52,656 shares during the last quarter. Finally, Lynx1 Capital Management LP grew its stake in shares of Passage Bio by 4.4% during 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. 53.48% of the stock is currently owned by institutional investors and hedge funds.

About Passage Bio

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.