Passage Bio, Inc. (NASDAQ:PASG - Get Free Report) major shareholder Orbimed Advisors Llc sold 54,181 shares of the business's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $0.84, for a total transaction of $45,512.04. Following the completion of the transaction, the insider now owns 7,643,285 shares in the company, valued at $6,420,359.40. The trade was a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Orbimed Advisors Llc also recently made the following trade(s):
- 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 transaction of $64.00.
- 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 transaction of $17,140.46.
- On Wednesday, December 4th, Orbimed Advisors Llc sold 76,200 shares of Passage Bio stock. The stock was 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 transaction of $18,710.63.
- On Monday, September 16th, Orbimed Advisors Llc sold 63,100 shares of Passage Bio stock. The stock was sold at an average price of $0.74, for a total transaction of $46,694.00.
Passage Bio Stock Down 4.4 %
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Passage Bio stock opened at $0.76 on Thursday. Passage Bio, Inc. has a 52-week low of $0.45 and a 52-week high of $1.79. The company's 50 day moving average is $0.65 and its two-hundred day moving average is $0.79. The firm has a market cap of $46.82 million, a PE ratio of -0.65 and a beta of 1.43.
Institutional Investors Weigh In On Passage Bio
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vestal Point Capital LP raised its holdings in shares of Passage Bio by 0.8% in 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 in the last quarter. Vanguard Group Inc. raised its holdings in shares of Passage Bio by 2.6% in the 1st 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 in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of Passage Bio in the 3rd quarter valued at $38,000. Geode Capital Management LLC raised its holdings in shares of 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 in the last quarter. Finally, Lynx1 Capital Management LP raised its holdings in shares of 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 in the last quarter. 53.48% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
PASG has been the topic of several recent analyst reports. Canaccord Genuity Group restated a "buy" rating and issued a $13.00 price objective on shares of Passage Bio in a report on Thursday, November 14th. Wedbush assumed coverage on shares of Passage Bio in a report on Friday, November 29th. They set an "outperform" rating and a $4.00 target price on the stock. Rodman & Renshaw assumed coverage on shares of Passage Bio in a report on Tuesday, September 3rd. They set a "buy" rating and a $7.00 target price on the stock. Finally, Chardan Capital reiterated a "buy" rating and set a $7.00 target price on shares of Passage Bio in a report on Thursday, November 14th.
View Our Latest Stock Analysis on Passage Bio
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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