Passage Bio, Inc. (NASDAQ:PASG - Get Free Report) major shareholder Orbimed Advisors Llc sold 20,903 shares of the company's stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $0.82, for a total transaction of $17,140.46. Following the completion of the sale, the insider now directly owns 7,697,466 shares of the company's stock, valued at $6,311,922.12. The trade was a 0.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.
Orbimed Advisors Llc also recently made the following trade(s):
- 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.
- On Wednesday, September 18th, Orbimed Advisors Llc sold 25,631 shares of Passage Bio stock. The stock was sold at an average price of $0.73, for a total value of $18,710.63.
- On Monday, September 16th, Orbimed Advisors Llc sold 63,100 shares of Passage Bio stock. The shares were sold at an average price of $0.74, for a total transaction of $46,694.00.
Passage Bio Stock Up 9.2 %
NASDAQ PASG opened at $0.78 on Friday. The company has a fifty day simple moving average of $0.64 and a 200 day simple moving average of $0.80. Passage Bio, Inc. has a 1 year low of $0.45 and a 1 year high of $1.79.
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Several equities analysts have weighed in on PASG shares. Chardan Capital reiterated a "buy" rating and set a $7.00 price objective on shares of Passage Bio in a research report on Thursday, November 14th. Canaccord Genuity Group reissued a "buy" rating and set a $13.00 price target on shares of Passage Bio in a research report on Thursday, November 14th. Rodman & Renshaw began coverage on Passage Bio in a research note on Tuesday, September 3rd. They issued a "buy" rating and a $7.00 price objective for the company. Finally, Wedbush began coverage on Passage Bio in a research note on Friday, November 29th. They set an "outperform" rating and a $4.00 target price on the stock.
Read Our Latest Analysis on PASG
Institutional Trading of Passage Bio
A number of hedge funds have recently bought and sold shares of PASG. Erste Asset Management GmbH bought a new stake in Passage Bio in the 3rd quarter valued at $1,718,000. Lynx1 Capital Management LP boosted its holdings 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 purchasing an additional 211,758 shares during the period. Geode Capital Management LLC boosted its holdings in Passage Bio by 18.2% in the 3rd quarter. Geode Capital Management LLC now owns 509,516 shares of the company's stock valued at $357,000 after purchasing an additional 78,406 shares during the period. Landscape Capital Management L.L.C. bought a new position in shares of Passage Bio during the 3rd quarter worth about $38,000. Finally, 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 worth $2,797,000 after acquiring an additional 52,656 shares during the period. 53.48% of the stock is owned by institutional investors.
Passage Bio Company Profile
(
Get Free Report)
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.
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