Lynx1 Capital Management Lp Buys 29,300 Shares of Passage Bio, Inc. (NASDAQ:PASG) Stock

Passage Bio, Inc. (NASDAQ:PASG) major shareholder Lynx1 Capital Management Lp purchased 29,300 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was bought at an average cost of $0.67 per share, with a total value of $19,631.00. Following the purchase, the insider now owns 8,883,308 shares of the company’s stock, valued at $5,951,816.36. This represents a 0.33 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, November 25th, Lynx1 Capital Management Lp purchased 259,998 shares of Passage Bio stock. The shares were purchased at an average price of $0.56 per share, for a total transaction of $145,598.88.

Passage Bio Stock Down 11.2 %

NASDAQ PASG traded down $0.08 on Wednesday, reaching $0.67. The company had a trading volume of 399,655 shares, compared to its average volume of 270,763. The stock has a market capitalization of $41.17 million, a P/E ratio of -0.57 and a beta of 1.20. The company’s fifty day moving average is $0.61 and its 200 day moving average is $0.82. Passage Bio, Inc. has a 52-week low of $0.45 and a 52-week high of $1.79.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Lynx1 Capital Management LP increased its stake in Passage Bio by 1,178.1% in the 1st quarter. Lynx1 Capital Management LP now owns 4,845,871 shares of the company’s stock worth $6,542,000 after purchasing an additional 4,466,712 shares during the period. Erste Asset Management GmbH purchased a new stake in shares of Passage Bio during the third quarter valued at approximately $1,718,000. Geode Capital Management LLC grew its holdings in shares of 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 buying an additional 78,406 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in Passage Bio in the third quarter worth approximately $38,000. Finally, Vanguard Group Inc. boosted its holdings in Passage Bio by 2.6% in the first quarter. Vanguard Group Inc. now owns 2,071,538 shares of the company’s stock worth $2,797,000 after purchasing an additional 52,656 shares during the last quarter. Institutional investors own 53.48% of the company’s 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.