Lynx1 Capital Management Lp Acquires 29,300 Shares of Passage Bio, Inc. (NASDAQ:PASG) Stock

Passage Bio, Inc. (NASDAQ:PASG) major shareholder Lynx1 Capital Management Lp purchased 29,300 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were bought at an average price of $0.67 per share, for a total transaction of $19,631.00. Following the completion of the transaction, the insider now directly owns 8,883,308 shares in the company, valued at $5,951,816.36. This represents a 0.33 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, November 25th, Lynx1 Capital Management Lp acquired 259,998 shares of Passage Bio stock. The stock was bought at an average price of $0.56 per share, with a total value of $145,598.88.

Passage Bio Stock Up 69.5 %

Shares of NASDAQ:PASG opened at $1.13 on Friday. The firm has a fifty day moving average of $0.61 and a two-hundred day moving average of $0.82. Passage Bio, Inc. has a 12-month low of $0.45 and a 12-month high of $1.79. The firm has a market capitalization of $69.80 million, a P/E ratio of -0.79 and a beta of 1.20.

Analyst Ratings Changes

PASG has been the subject of a number of research analyst reports. Rodman & Renshaw assumed coverage on Passage Bio in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $7.00 target price for the company. Chardan Capital restated a “buy” rating and set a $7.00 price objective on shares of Passage Bio in a report on Thursday, November 14th. Wedbush assumed coverage on shares of Passage Bio in a research note on Friday. They set an “outperform” rating and a $4.00 target price on the stock. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $13.00 price objective on shares of Passage Bio in a research note on Thursday, November 14th.

Institutional Trading of Passage Bio

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Passage Bio by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 2,071,538 shares of the company’s stock worth $2,797,000 after purchasing an additional 52,656 shares during the last quarter. Lynx1 Capital Management LP grew its stake 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 buying an additional 211,758 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in Passage Bio in the third quarter worth approximately $38,000. Vestal Point Capital LP raised 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 acquiring an additional 48,000 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Passage Bio by 18.2% in the third quarter. Geode Capital Management LLC now owns 509,516 shares of the company’s stock valued at $357,000 after acquiring an additional 78,406 shares during the last quarter. Institutional investors and hedge funds own 53.48% of the company’s stock.

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.