Passage Bio, Inc. (NASDAQ:PASG) Short Interest Update

Passage Bio, Inc. (NASDAQ:PASG) saw a significant decline in short interest in the month of January. As of January 15th, there was short interest totalling 1,800,000 shares, a decline of 53.2% from the December 31st total of 3,850,000 shares. Based on an average daily trading volume, of 728,300 shares, the days-to-cover ratio is presently 2.5 days. Currently, 3.5% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

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

Passage Bio Trading Up 1.3 %

Shares of NASDAQ PASG traded up $0.01 during mid-day trading on Thursday, reaching $0.58. The company had a trading volume of 14,701 shares, compared to its average volume of 608,896. The business’s 50-day moving average is $0.68 and its 200-day moving average is $0.70. Passage Bio has a 52 week low of $0.45 and a 52 week high of $1.79. The stock has a market cap of $36.07 million, a price-to-earnings ratio of -0.50 and a beta of 1.54.

Insider Activity at Passage Bio

In other Passage Bio news, major shareholder Orbimed Advisors Llc sold 76,200 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $0.79, for a total transaction of $60,198.00. Following the completion of the sale, the insider now owns 7,718,369 shares of the company’s stock, valued at approximately $6,097,511.51. The trade was a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Lynx1 Capital Management Lp acquired 259,998 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $0.56 per share, for a total transaction of $145,598.88. Following the purchase, the insider now directly owns 8,686,953 shares of the company’s stock, valued at approximately $4,864,693.68. This trade represents a 3.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 662,943 shares of company stock worth $408,099 and sold 620,368 shares worth $421,921. 4.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Passage Bio

A number of institutional investors have recently added to or reduced their stakes in PASG. Vestal Point Capital LP lifted its holdings in shares of Passage Bio by 0.8% during the third quarter. Vestal Point Capital LP now owns 6,100,000 shares of the company’s stock worth $4,270,000 after purchasing an additional 48,000 shares during the period. Landscape Capital Management L.L.C. acquired a new position in Passage Bio during the third quarter valued at $38,000. Geode Capital Management LLC boosted its holdings in Passage Bio by 18.2% in the third quarter. Geode Capital Management LLC now owns 509,516 shares of the company’s stock valued at $357,000 after purchasing an additional 78,406 shares during the last quarter. Finally, Erste Asset Management GmbH purchased a new position in shares of Passage Bio during the 3rd quarter valued at about $1,718,000. Institutional investors own 53.48% of the company’s 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.