Orbimed Advisors Llc Sells 126,209 Shares of Passage Bio, Inc. (NASDAQ:PASG) Stock

Passage Bio, Inc. (NASDAQ:PASG) major shareholder Orbimed Advisors Llc sold 126,209 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $0.66, for a total value of $83,297.94. Following the sale, the insider now owns 7,131,636 shares of the company’s stock, valued at approximately $4,706,879.76. This represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, January 13th, Orbimed Advisors Llc sold 17,986 shares of Passage Bio stock. The stock was sold at an average price of $0.64, for a total value of $11,511.04.
• On Wednesday, January 8th, Orbimed Advisors Llc sold 75,007 shares of Passage Bio stock. The shares were sold at an average price of $0.68, for a total transaction of $51,004.76.
• On Monday, January 6th, Orbimed Advisors Llc sold 19,481 shares of Passage Bio stock. The stock was sold at an average price of $0.77, for a total transaction of $15,000.37.
• On Friday, December 20th, Orbimed Advisors Llc sold 230,321 shares of Passage Bio stock. The shares were sold at an average price of $0.60, for a total transaction of $138,192.60.
• 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 transaction 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 value 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 value of $60,198.00.

Passage Bio Price Performance

Shares of PASG stock opened at $0.59 on Thursday. The stock has a market capitalization of $36.14 million, a PE ratio of -0.50 and a beta of 1.54. The business’s 50 day simple moving average is $0.68 and its 200 day simple moving average is $0.72. Passage Bio, Inc. has a one year low of $0.45 and a one year high of $1.79.

Institutional Investors Weigh In On Passage Bio

Institutional investors have recently modified their holdings of the company. Vestal Point Capital LP lifted its holdings 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 buying an additional 48,000 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in Passage Bio during the 3rd quarter worth about $38,000. Geode Capital Management LLC raised its position in shares of Passage Bio by 18.2% in 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. Lynx1 Capital Management LP lifted 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 purchasing an additional 211,758 shares during the period. Finally, Erste Asset Management GmbH bought a new stake in shares of Passage Bio during the 3rd quarter valued at about $1,718,000. 53.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on PASG shares. Canaccord Genuity Group reiterated a “buy” rating and issued a $13.00 price objective on shares of Passage Bio in a report on Thursday, November 14th. 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, Wedbush started coverage on shares of Passage Bio in a report on Friday, November 29th. They set an “outperform” rating and a $4.00 price target on the 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.