Orbimed Advisors Llc Sells 230,321 Shares of Passage Bio, Inc. (NASDAQ:PASG) Stock

Passage Bio, Inc. (NASDAQ:PASG) major shareholder Orbimed Advisors Llc sold 230,321 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $0.60, for a total transaction of $138,192.60. Following the transaction, the insider now owns 7,404,869 shares in the company, valued at $4,442,921.40. This trade represents a 3.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases 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 value 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 transaction of $60,198.00.

Passage Bio Trading Up 1.3 %

Shares of PASG stock opened at $0.66 on Friday. Passage Bio, Inc. has a 12-month low of $0.45 and a 12-month high of $1.79. The business’s fifty day simple moving average is $0.66 and its 200-day simple moving average is $0.75. The company has a market cap of $40.76 million, a PE ratio of -0.56 and a beta of 1.43.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PASG shares. 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 price objective on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $13.00 price target on shares of Passage Bio in a research report on Thursday, November 14th. Chardan Capital reaffirmed a “buy” rating and set a $7.00 price objective on shares of Passage Bio in a research report on Thursday, November 14th. Finally, Wedbush started coverage on shares of Passage Bio in a report on Friday, November 29th. They issued an “outperform” rating and a $4.00 target price for the company.

Institutional Investors Weigh In On Passage Bio

Institutional investors have recently added to or reduced their stakes in the business. Vestal Point Capital LP increased its holdings in shares of 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 acquiring an additional 48,000 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of Passage Bio during the third quarter worth $38,000. Geode Capital Management LLC grew its holdings in shares of 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 buying an additional 78,406 shares during the last quarter. Lynx1 Capital Management LP increased its position 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 acquiring an additional 211,758 shares during the period. Finally, Erste Asset Management GmbH acquired a new stake in Passage Bio during the 3rd quarter worth about $1,718,000. Institutional investors and hedge funds own 53.48% of the company’s stock.

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.