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 stock in a transaction 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 completion of the sale, the insider now directly owns 7,385,388 shares in the company, valued at approximately $5,686,748.76. This represents a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own at least 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 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 stock was 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 shares were 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 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 value of $60,198.00.

Passage Bio Trading Down 5.9 %

PASG opened at $0.66 on Thursday. The firm’s 50 day simple moving average is $0.68 and its two-hundred day simple moving average is $0.73. The company has a market capitalization of $40.70 million, a PE ratio of -0.56 and a beta of 1.54. Passage Bio, Inc. has a 1-year low of $0.45 and a 1-year high of $1.79.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PASG shares. 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 target on the stock. Chardan Capital restated a “buy” rating and issued a $7.00 target price 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 target on shares of Passage Bio in a report on Thursday, November 14th.

Hedge Funds Weigh In On Passage Bio

Institutional investors have recently bought and sold shares of the stock. Vestal Point Capital LP increased its position 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 buying an additional 48,000 shares in the last quarter. Lynx1 Capital Management LP increased 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 worth $4,017,000 after acquiring an additional 211,758 shares in the last quarter. Erste Asset Management GmbH bought a new stake in Passage Bio during the 3rd quarter worth approximately $1,718,000. Geode Capital Management LLC lifted its holdings in Passage Bio by 18.2% during the third 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, Landscape Capital Management L.L.C. bought a new position in shares of Passage Bio in the third quarter worth approximately $38,000. 53.48% of the stock is owned by 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.