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

Passage Bio, Inc. (NASDAQ:PASG) major shareholder Lynx1 Capital Management Lp purchased 373,645 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average cost of $0.65 per share, for a total transaction of $242,869.25. Following the completion of the transaction, the insider now directly owns 9,256,953 shares of the company’s stock, valued at $6,017,019.45. This represents a 4.21 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

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

Passage Bio Stock Down 14.7 %

PASG traded down $0.10 on Tuesday, hitting $0.57. The company’s stock had a trading volume of 1,295,352 shares, compared to its average volume of 353,931. Passage Bio, Inc. has a 12 month low of $0.45 and a 12 month high of $1.79. The firm has a market cap of $35.03 million, a P/E ratio of -0.48 and a beta of 1.43. The company’s 50 day simple moving average is $0.67 and its 200-day simple moving average is $0.74.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PASG shares. Wedbush initiated coverage on shares of Passage Bio in a research report on Friday, November 29th. They set an “outperform” rating and a $4.00 price target for the company. Chardan Capital reaffirmed a “buy” rating and issued a $7.00 price target on shares of Passage Bio in a report on Thursday, November 14th. Canaccord Genuity Group reissued a “buy” rating and set a $13.00 price objective on shares of Passage Bio in a report on Thursday, November 14th. Finally, Rodman & Renshaw began coverage on Passage Bio in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $7.00 target price on the stock.

Hedge Funds Weigh In On Passage Bio

Large investors have recently made changes to their positions in the stock. Erste Asset Management GmbH purchased a new stake in Passage Bio during the 3rd quarter worth about $1,718,000. Lynx1 Capital Management LP lifted its holdings in shares of Passage Bio by 4.4% in the second quarter. Lynx1 Capital Management LP now owns 5,057,629 shares of the company’s stock worth $4,017,000 after buying an additional 211,758 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new stake in shares of Passage Bio in the third quarter worth about $38,000. Vestal Point Capital LP boosted its position in shares of 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 during the period. Finally, Geode Capital Management LLC grew its stake 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 acquiring an additional 78,406 shares in the last quarter. 53.48% of the stock is owned by institutional investors.

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.