Orbimed Advisors Llc Sells 19,481 Shares of Passage Bio, Inc. (NASDAQ:PASG) Stock

Passage Bio, Inc. (NASDAQ:PASG) major shareholder Orbimed Advisors Llc sold 19,481 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $0.77, for a total value of $15,000.37. Following the completion of the sale, the insider now directly owns 7,385,388 shares in the company, valued at approximately $5,686,748.76. The trade was a 0.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Orbimed Advisors Llc also recently made the following trade(s):

• On Wednesday, January 8th, Orbimed Advisors Llc sold 75,007 shares of Passage Bio stock. The stock was sold at an average price of $0.68, for a total value of $51,004.76.
• 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 shares were sold at an average price of $0.80, for a total transaction of $64.00.
• On Monday, December 9th, Orbimed Advisors Llc sold 54,181 shares of Passage Bio stock. The stock was sold at an average price of $0.84, for a total transaction of $45,512.04.
• On Friday, December 6th, Orbimed Advisors Llc sold 20,903 shares of Passage Bio stock. The shares were 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 stock was sold at an average price of $0.79, for a total transaction of $60,198.00.

Passage Bio Trading Down 5.9 %

Shares of PASG opened at $0.66 on Friday. Passage Bio, Inc. has a twelve month low of $0.45 and a twelve month high of $1.79. The firm has a market capitalization of $40.70 million, a P/E ratio of -0.56 and a beta of 1.54. The stock’s fifty day simple moving average is $0.68 and its 200 day simple moving average is $0.73.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Passage Bio

Large investors have recently modified their holdings of the company. Landscape Capital Management L.L.C. purchased a new stake in shares of Passage Bio during the 3rd quarter worth about $38,000. Geode Capital Management LLC lifted its position in 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 in the last quarter. Erste Asset Management GmbH purchased a new stake in Passage Bio during the third quarter worth approximately $1,718,000. Lynx1 Capital Management LP increased its position in shares of Passage Bio by 4.4% in the second quarter. Lynx1 Capital Management LP now owns 5,057,629 shares of the company’s stock worth $4,017,000 after acquiring an additional 211,758 shares in the last quarter. Finally, Vestal Point Capital LP raised its stake in shares of Passage Bio by 0.8% in the 3rd quarter. Vestal Point Capital LP now owns 6,100,000 shares of the company’s stock valued at $4,270,000 after acquiring an additional 48,000 shares during the period. 53.48% of the stock is currently owned by hedge funds and other institutional investors.

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.