Passage Bio, Inc. (NASDAQ:PASG) Major Shareholder Lynx1 Capital Management Lp Buys 259,998 Shares

Passage Bio, Inc. (NASDAQ:PASG) major shareholder Lynx1 Capital Management Lp purchased 259,998 shares of the company’s stock in a transaction on Monday, November 25th. The shares were purchased at an average cost of $0.56 per share, for a total transaction of $145,598.88. Following the completion of the transaction, the insider now directly owns 8,686,953 shares of the company’s stock, valued at approximately $4,864,693.68. This represents a 3.09 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares 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 acquired 29,300 shares of Passage Bio stock. The shares were purchased at an average price of $0.67 per share, for a total transaction of $19,631.00.

Passage Bio Stock Performance

Shares of PASG stock opened at $0.67 on Thursday. Passage Bio, Inc. has a 52 week low of $0.45 and a 52 week high of $1.79. The company has a market capitalization of $41.17 million, a price-to-earnings ratio of -0.57 and a beta of 1.20. The company has a 50-day simple moving average of $0.61 and a 200 day simple moving average of $0.82.

Institutional Investors Weigh In On Passage Bio

Institutional investors have recently made changes to their positions in the company. Landscape Capital Management L.L.C. bought a new position in shares of Passage Bio during the third quarter worth approximately $38,000. Geode Capital Management LLC increased its position in Passage Bio by 18.2% during the 3rd 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 period. Vanguard Group Inc. lifted its holdings in shares of Passage Bio by 2.6% during the first quarter. Vanguard Group Inc. now owns 2,071,538 shares of the company’s stock worth $2,797,000 after buying an additional 52,656 shares in the last quarter. Erste Asset Management GmbH bought a new stake in shares of Passage Bio in the third quarter valued at about $1,718,000. Finally, Lynx1 Capital Management LP grew its stake in shares of Passage Bio by 1,178.1% in the first quarter. Lynx1 Capital Management LP now owns 4,845,871 shares of the company’s stock valued at $6,542,000 after acquiring an additional 4,466,712 shares in the last quarter. Institutional investors own 53.48% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PASG. Canaccord Genuity Group reiterated a “buy” rating and set a $13.00 price target on shares of Passage Bio in a report on Thursday, November 14th. Chardan Capital reiterated a “buy” rating and set a $7.00 target price on shares of Passage Bio in a research note on Thursday, November 14th. Finally, Rodman & Renshaw assumed coverage on Passage Bio in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $7.00 price target on the stock.

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.