Insider Selling: Passage Bio, Inc. (NASDAQ:PASG) Major Shareholder Sells $25,439.70 in Stock

Passage Bio, Inc. (NASDAQ:PASG) major shareholder Orbimed Advisors Llc sold 77,090 shares of the company’s stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $0.33, for a total value of $25,439.70. Following the sale, the insider now directly owns 6,885,572 shares of the company’s stock, valued at $2,272,238.76. The trade was a 1.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Tuesday, April 15th, Orbimed Advisors Llc sold 10,326 shares of Passage Bio stock. The shares were sold at an average price of $0.38, for a total transaction of $3,923.88.

Passage Bio Stock Up 0.3 %

Shares of NASDAQ:PASG opened at $0.33 on Friday. The business has a 50 day moving average price of $0.44 and a 200 day moving average price of $0.57. The company has a market cap of $20.51 million, a price-to-earnings ratio of -0.28 and a beta of 1.59. Passage Bio, Inc. has a twelve month low of $0.30 and a twelve month high of $1.64.

Passage Bio (NASDAQ:PASG) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.01. Analysts anticipate that Passage Bio, Inc. will post -1.03 EPS for the current year.

Analyst Ratings Changes

Separately, Chardan Capital lowered their target price on shares of Passage Bio from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th.

Institutional Trading of Passage Bio

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its position in shares of Passage Bio by 983.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 54,479 shares of the company’s stock valued at $31,000 after buying an additional 49,449 shares during the last quarter. Northern Trust Corp increased its stake in Passage Bio by 55.1% during the fourth quarter. Northern Trust Corp now owns 62,476 shares of the company’s stock valued at $35,000 after acquiring an additional 22,195 shares during the period. Squarepoint Ops LLC raised its holdings in Passage Bio by 129.5% in the 4th quarter. Squarepoint Ops LLC now owns 64,099 shares of the company’s stock valued at $36,000 after acquiring an additional 36,172 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Passage Bio by 537.2% in the 4th quarter. Jane Street Group LLC now owns 78,190 shares of the company’s stock worth $44,000 after acquiring an additional 65,919 shares during the period. Finally, Shay Capital LLC grew its holdings in shares of Passage Bio by 144.2% during the 4th quarter. Shay Capital LLC now owns 225,261 shares of the company’s stock worth $128,000 after purchasing an additional 133,005 shares in the last quarter. 53.48% of the stock is currently owned by institutional investors and hedge funds.

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.