Insider Selling: Passage Bio, Inc. (NASDAQ:PASG) Major Shareholder Sells 19,481 Shares of Stock

Passage Bio, Inc. (NASDAQ:PASG) major shareholder Orbimed Advisors Llc sold 19,481 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $0.77, for a total value of $15,000.37. Following the transaction, the insider now directly owns 7,385,388 shares in the company, valued at $5,686,748.76. This trade represents a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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.

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

• On Wednesday, January 8th, Orbimed Advisors Llc sold 75,007 shares of Passage Bio stock. The shares were sold at an average price of $0.68, for a total transaction of $51,004.76.
• On Friday, December 20th, Orbimed Advisors Llc sold 230,321 shares of Passage Bio stock. The shares were sold at an average price of $0.60, for a total transaction 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 transaction of $64.00.
• On Monday, December 9th, Orbimed Advisors Llc sold 54,181 shares of Passage Bio stock. The shares were sold at an average price of $0.84, for a total transaction 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 value of $60,198.00.

Passage Bio Trading Down 5.9 %

Shares of NASDAQ PASG opened at $0.66 on Friday. The company has a market capitalization of $40.70 million, a price-to-earnings ratio of -0.56 and a beta of 1.54. Passage Bio, Inc. has a twelve month low of $0.45 and a twelve month high of $1.79. The business has a 50 day simple moving average of $0.68 and a 200-day simple moving average of $0.73.

Analyst Ratings Changes

PASG has been the topic of a number of recent analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $13.00 target price on shares of Passage Bio in a research report on Thursday, November 14th. 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, Wedbush assumed coverage on shares of Passage Bio in a report on Friday, November 29th. They set an “outperform” rating and a $4.00 price objective for the company.

Institutional Trading of Passage Bio

Several institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position 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 worth $357,000 after buying an additional 78,406 shares during the last quarter. Erste Asset Management GmbH bought a new position in Passage Bio in the third quarter worth about $1,718,000. Vestal Point Capital LP lifted its holdings in Passage Bio by 0.8% in the third quarter. Vestal Point Capital LP now owns 6,100,000 shares of the company’s stock worth $4,270,000 after acquiring an additional 48,000 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new position in Passage Bio in the third quarter valued at approximately $38,000. Finally, Lynx1 Capital Management LP grew its holdings 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. Institutional investors own 53.48% of the company’s stock.

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.