Passage Bio, Inc. (NASDAQ:PASG) Major Shareholder Lynx1 Capital Management Lp Purchases 259,998 Shares

Passage Bio, Inc. (NASDAQ:PASG) major shareholder Lynx1 Capital Management Lp bought 259,998 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were bought at an average cost of $0.56 per share, for a total transaction of $145,598.88. Following the completion of the transaction, the insider now directly owns 8,686,953 shares of the company’s stock, valued at $4,864,693.68. This trade represents a 3.09 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Lynx1 Capital Management Lp also recently made the following trade(s):

• On Wednesday, November 27th, Lynx1 Capital Management Lp purchased 29,300 shares of Passage Bio stock. The stock was bought at an average cost of $0.67 per share, for a total transaction of $19,631.00.

Passage Bio Trading Down 11.2 %

Shares of PASG opened at $0.67 on Friday. The business’s 50-day moving average is $0.61 and its 200-day moving average is $0.82. Passage Bio, Inc. has a fifty-two week low of $0.45 and a fifty-two week high of $1.79.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in shares of Passage Bio by 18.2% during the 3rd quarter. Geode Capital Management LLC now owns 509,516 shares of the company’s stock valued at $357,000 after buying an additional 78,406 shares during the period. Erste Asset Management GmbH acquired a new stake in Passage Bio during the third quarter valued at $1,718,000. Vestal Point Capital LP boosted its position in Passage Bio by 0.8% during the third 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 last quarter. Landscape Capital Management L.L.C. acquired a new position in Passage Bio in the 3rd quarter worth about $38,000. Finally, Lynx1 Capital Management LP raised its stake in shares of Passage Bio by 4.4% during the 2nd quarter. Lynx1 Capital Management LP now owns 5,057,629 shares of the company’s stock worth $4,017,000 after purchasing an additional 211,758 shares in the last quarter. Institutional investors and hedge funds own 53.48% of the company’s stock.

Wall Street Analyst Weigh In

PASG has been the subject of several recent analyst reports. Chardan Capital reiterated a “buy” rating and issued a $7.00 target price on shares of Passage Bio in a report on Thursday, November 14th. Rodman & Renshaw assumed coverage on shares of 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, Canaccord Genuity Group reiterated a “buy” rating and set a $13.00 price objective on shares of Passage Bio in a research report on Thursday, November 14th.

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.