Orbimed Advisors Llc Sells 17,986 Shares of Passage Bio, Inc. (NASDAQ:PASG) Stock

Passage Bio, Inc. (NASDAQ:PASG) major shareholder Orbimed Advisors Llc sold 17,986 shares of Passage Bio stock in a transaction on Monday, January 13th. The stock was sold at an average price of $0.64, for a total transaction of $11,511.04. Following the completion of the transaction, the insider now directly owns 7,113,650 shares of the company’s stock, valued at approximately $4,552,736. This represents a 0.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more 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 Friday, January 10th, Orbimed Advisors Llc sold 126,209 shares of Passage Bio stock. The stock was sold at an average price of $0.66, for a total transaction of $83,297.94.
• 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 value 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 value 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 value 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 transaction 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 transaction of $60,198.00.

Passage Bio Stock Up 2.5 %

Shares of PASG stock opened at $0.60 on Friday. The stock has a 50-day simple moving average of $0.68 and a 200 day simple moving average of $0.72. Passage Bio, Inc. has a fifty-two week low of $0.45 and a fifty-two week high of $1.79.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Passage Bio

Institutional investors and hedge funds have recently bought and sold shares of the business. Erste Asset Management GmbH acquired a new position in shares of Passage Bio in the 3rd quarter worth approximately $1,718,000. Lynx1 Capital Management LP boosted its holdings in Passage Bio by 4.4% during 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. Geode Capital Management LLC grew its position in Passage Bio by 18.2% in the third quarter. Geode Capital Management LLC now owns 509,516 shares of the company’s stock worth $357,000 after buying an additional 78,406 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of Passage Bio in the third quarter valued at $38,000. Finally, Vestal Point Capital LP increased its holdings 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. 53.48% of the stock is 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.