Lynx1 Capital Management Lp Buys 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 business’s stock in a transaction dated 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 directly owns 9,256,953 shares of the company’s stock, valued at approximately $6,017,019.45. This represents a 4.21 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more 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 purchased 29,300 shares of Passage Bio stock. The stock was acquired at an average price of $0.67 per share, with a total value of $19,631.00.
• On Monday, November 25th, Lynx1 Capital Management Lp acquired 259,998 shares of Passage Bio stock. The stock was acquired at an average price of $0.56 per share, for a total transaction of $145,598.88.

Passage Bio Trading Down 14.7 %

NASDAQ PASG opened at $0.57 on Thursday. The stock has a market capitalization of $35.03 million, a price-to-earnings ratio of -0.48 and a beta of 1.43. The business’s 50 day moving average is $0.67 and its two-hundred day moving average is $0.74. Passage Bio, Inc. has a 12-month low of $0.45 and a 12-month high of $1.79.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PASG. Lynx1 Capital Management LP lifted its position in shares of Passage Bio by 4.4% during the 2nd quarter. Lynx1 Capital Management LP now owns 5,057,629 shares of the company’s stock valued at $4,017,000 after acquiring an additional 211,758 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in Passage Bio in the third quarter valued at $38,000. Vestal Point Capital LP increased 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 buying an additional 48,000 shares in the last quarter. Erste Asset Management GmbH acquired a new position in shares of Passage Bio during the 3rd quarter worth $1,718,000. Finally, Geode Capital Management LLC grew its stake in Passage Bio by 18.2% in the 3rd 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.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Canaccord Genuity Group restated a “buy” rating and issued a $13.00 price target on shares of Passage Bio in a research report on Thursday, November 14th. Chardan Capital reissued a “buy” rating and issued a $7.00 target price on shares of Passage Bio in a report on Thursday, November 14th. Finally, Wedbush began coverage on Passage Bio in a report on Friday, November 29th. They set an “outperform” rating and a $4.00 price target for the company.

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.