Orbimed Advisors Llc Sells 63,100 Shares of Passage Bio, Inc. (NASDAQ:PASG) Stock

Passage Bio, Inc. (NASDAQ:PASG) major shareholder Orbimed Advisors Llc sold 63,100 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $0.74, for a total value of $46,694.00. Following the completion of the sale, the insider now directly owns 7,970,900 shares of the company’s stock, valued at approximately $5,898,466. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, September 18th, Orbimed Advisors Llc sold 25,631 shares of Passage Bio stock. The stock was sold at an average price of $0.73, for a total value of $18,710.63.

Passage Bio Trading Down 3.6 %

PASG traded down $0.03 during midday trading on Wednesday, hitting $0.70. The company’s stock had a trading volume of 143,913 shares, compared to its average volume of 270,009. The firm has a market cap of $43.21 million, a P/E ratio of -0.46 and a beta of 1.19. The firm has a 50-day moving average price of $0.80 and a two-hundred day moving average price of $1.09. Passage Bio, Inc. has a 52-week low of $0.58 and a 52-week high of $1.79.

Passage Bio (NASDAQ:PASG) last issued its earnings results on Thursday, August 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.05. On average, equities analysts expect that Passage Bio, Inc. will post -0.94 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Rodman & Renshaw began coverage on Passage Bio in a research report on Tuesday, September 3rd. They set a “buy” rating and a $7.00 price objective for the company.

Institutional Trading of Passage Bio

A number of institutional investors have recently modified their holdings of the company. Affinity Asset Advisors LLC acquired a new position in Passage Bio during the 1st quarter worth approximately $357,000. Pale Fire Capital SE lifted its position in Passage Bio by 489.1% during the 4th quarter. Pale Fire Capital SE now owns 581,257 shares of the company’s stock worth $587,000 after acquiring an additional 482,595 shares in the last quarter. Acadian Asset Management LLC lifted its position in Passage Bio by 59.0% during the 1st quarter. Acadian Asset Management LLC now owns 961,271 shares of the company’s stock worth $1,296,000 after acquiring an additional 356,593 shares in the last quarter. Vanguard Group Inc. lifted its position in Passage Bio by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 2,071,538 shares of the company’s stock worth $2,797,000 after acquiring an additional 52,656 shares in the last quarter. Finally, Lynx1 Capital Management LP lifted its position 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 in the last quarter. Hedge funds and other 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.