Passage Bio, Inc. (NASDAQ:PASG) Major Shareholder Orbimed Advisors Llc Sells 17,986 Shares

Passage Bio, Inc. (NASDAQ:PASG) major shareholder Orbimed Advisors Llc sold 17,986 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $0.64, for a total value of $11,511.04. Following the transaction, the insider now owns 7,113,650 shares in the company, valued at approximately $4,552,736. This trade represents a 0.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Orbimed Advisors Llc also recently made the following trade(s):

• On Friday, January 10th, Orbimed Advisors Llc sold 126,209 shares of Passage Bio stock. The shares were sold at an average price of $0.66, for a total transaction of $83,297.94.
• On Wednesday, January 8th, Orbimed Advisors Llc sold 75,007 shares of Passage Bio stock. The stock was sold at an average price of $0.68, for a total transaction of $51,004.76.
• On Monday, January 6th, Orbimed Advisors Llc sold 19,481 shares of Passage Bio stock. The shares were sold at an average price of $0.77, for a total transaction of $15,000.37.
• On Friday, December 20th, Orbimed Advisors Llc sold 230,321 shares of Passage Bio stock. The stock was sold at an average price of $0.60, for a total value of $138,192.60.
• On Wednesday, December 11th, Orbimed Advisors Llc sold 80 shares of Passage Bio stock. The stock was sold at an average price of $0.80, for a total value of $64.00.
• On Monday, December 9th, Orbimed Advisors Llc sold 54,181 shares of Passage Bio stock. The stock was sold at an average price of $0.84, for a total value of $45,512.04.
• On Friday, December 6th, Orbimed Advisors Llc sold 20,903 shares of Passage Bio stock. The stock was sold at an average price of $0.82, for a total value of $17,140.46.
• On Wednesday, December 4th, Orbimed Advisors Llc sold 76,200 shares of Passage Bio stock. The shares were sold at an average price of $0.79, for a total transaction of $60,198.00.

Passage Bio Stock Down 6.7 %

NASDAQ PASG opened at $0.60 on Wednesday. The company has a market cap of $36.87 million, a PE ratio of -0.51 and a beta of 1.54. The firm’s 50-day simple moving average is $0.68 and its two-hundred day simple moving average is $0.72. Passage Bio, Inc. has a 52 week low of $0.45 and a 52 week high of $1.79.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PASG shares. Wedbush began coverage on shares of Passage Bio in a research note on Friday, November 29th. They issued an “outperform” rating and a $4.00 target price on the stock. Chardan Capital reaffirmed a “buy” rating and issued a $7.00 price target on shares of Passage Bio in a report on Thursday, November 14th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $13.00 price objective on shares of Passage Bio in a report on Thursday, November 14th.

Institutional Trading of Passage Bio

A number of institutional investors have recently modified their holdings of the business. Landscape Capital Management L.L.C. purchased a new position in Passage Bio in the 3rd quarter valued at approximately $38,000. Geode Capital Management LLC boosted its holdings 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 period. Erste Asset Management GmbH bought a new position in shares of Passage Bio in the third quarter worth $1,718,000. Lynx1 Capital Management LP grew its position 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 in the last quarter. Finally, Vestal Point Capital LP raised its stake in shares of 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 purchasing an additional 48,000 shares during the period. 53.48% of the stock is currently owned by hedge funds and other 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.