Landscape Capital Management L.L.C. Takes $38,000 Position in Passage Bio, Inc. (NASDAQ:PASG)

Landscape Capital Management L.L.C. bought a new stake in Passage Bio, Inc. (NASDAQ:PASG) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 53,915 shares of the company’s stock, valued at approximately $38,000.

Separately, Lynx1 Capital Management LP increased its stake in Passage Bio by 4.4% during the 2nd 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 during the period. 53.48% of the stock is owned by hedge funds and other institutional investors.

Passage Bio Stock Performance

Shares of PASG opened at $0.62 on Tuesday. Passage Bio, Inc. has a 52-week low of $0.45 and a 52-week high of $1.79. The business’s fifty day moving average is $0.61 and its 200-day moving average is $0.83. The firm has a market cap of $38.36 million, a price-to-earnings ratio of -0.53 and a beta of 1.20.

Insider Activity

In related news, major shareholder Orbimed Advisors Llc sold 63,100 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $0.74, for a total transaction of $46,694.00. Following the sale, the insider now owns 7,970,900 shares of the company’s stock, valued at $5,898,466. This trade represents a 0.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on PASG shares. Rodman & Renshaw started coverage on Passage Bio in a research note on Tuesday, September 3rd. They set a “buy” rating and a $7.00 price objective on the stock. Chardan Capital restated a “buy” rating and set a $7.00 price objective on shares of Passage Bio in a research note on Thursday, November 14th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $13.00 price objective on shares of Passage Bio in a research note on Thursday, November 14th.

Passage Bio 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.