Lynx1 Capital Management Lp Purchases 373,645 Shares of Passage Bio, Inc. (NASDAQ:PASG) Stock

Passage Bio, Inc. (NASDAQ:PASG) major shareholder Lynx1 Capital Management Lp bought 373,645 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average price of $0.65 per share, for a total transaction of $242,869.25. Following the transaction, the insider now owns 9,256,953 shares of the company’s stock, valued at $6,017,019.45. The trade was a 4.21 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, November 27th, Lynx1 Capital Management Lp acquired 29,300 shares of Passage Bio stock. The shares were acquired at an average price of $0.67 per share, for a total transaction of $19,631.00.
• On Monday, November 25th, Lynx1 Capital Management Lp bought 259,998 shares of Passage Bio stock. The stock was acquired at an average price of $0.56 per share, with a total value of $145,598.88.

Passage Bio Stock Performance

PASG opened at $0.57 on Thursday. Passage Bio, Inc. has a 1 year low of $0.45 and a 1 year high of $1.79. The firm has a 50 day moving average price of $0.67 and a 200 day moving average price of $0.74. The company has a market cap of $35.03 million, a PE ratio of -0.48 and a beta of 1.43.

Analyst Ratings Changes

Several research analysts have recently weighed in 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 objective on the stock. Chardan Capital reaffirmed a “buy” rating and set a $7.00 price target on shares of Passage Bio in a research note on Thursday, November 14th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $13.00 price objective on shares of Passage Bio in a research note on Thursday, November 14th.

Institutional Investors Weigh In On Passage Bio

Large investors have recently made changes to their positions in the business. Landscape Capital Management L.L.C. purchased a new stake in shares of Passage Bio in the third quarter worth about $38,000. Geode Capital Management LLC lifted its position in Passage Bio by 18.2% during the 3rd quarter. Geode Capital Management LLC now owns 509,516 shares of the company’s stock worth $357,000 after acquiring an additional 78,406 shares in the last quarter. Erste Asset Management GmbH acquired a new position in Passage Bio during the 3rd quarter worth approximately $1,718,000. Lynx1 Capital Management LP boosted 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 during the period. Finally, Vestal Point Capital LP grew 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 valued at $4,270,000 after acquiring an additional 48,000 shares in the last quarter. 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.