Passage Bio, Inc. (NASDAQ:PASG) Major Shareholder Lynx1 Capital Management Lp Purchases 29,300 Shares

Passage Bio, Inc. (NASDAQ:PASG) major shareholder Lynx1 Capital Management Lp acquired 29,300 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was purchased at an average price of $0.67 per share, with a total value of $19,631.00. Following the completion of the transaction, the insider now owns 8,883,308 shares of the company’s stock, valued at approximately $5,951,816.36. This trade represents a 0.33 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large 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 Monday, November 25th, Lynx1 Capital Management Lp bought 259,998 shares of Passage Bio stock. The stock was acquired at an average cost of $0.56 per share, for a total transaction of $145,598.88.

Passage Bio Price Performance

Passage Bio stock opened at $0.67 on Friday. The company’s 50 day simple moving average is $0.61 and its 200 day simple moving average is $0.82. Passage Bio, Inc. has a fifty-two week low of $0.45 and a fifty-two week high of $1.79.

Hedge Funds Weigh In On Passage Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its stake 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. Erste Asset Management GmbH acquired a new position in Passage Bio in the third quarter valued at about $1,718,000. 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 worth $4,270,000 after acquiring an additional 48,000 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of Passage Bio during the third quarter worth about $38,000. Finally, Lynx1 Capital Management LP lifted its holdings 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 purchasing an additional 211,758 shares in the last quarter. 53.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Chardan Capital reissued a “buy” rating and set a $7.00 price target on shares of Passage Bio in a research note on Thursday, November 14th. Canaccord Genuity Group reissued a “buy” rating and issued a $13.00 price target on shares of Passage Bio in a research note on Thursday, November 14th. Finally, Rodman & Renshaw started coverage on Passage Bio in a research report 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.