Passage Bio, Inc. (NASDAQ:PASG) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in Passage Bio, Inc. (NASDAQ:PASG) by 18.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 509,516 shares of the company’s stock after purchasing an additional 78,406 shares during the quarter. Geode Capital Management LLC owned 0.82% of Passage Bio worth $357,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PASG. Landscape Capital Management L.L.C. acquired a new position in shares of Passage Bio in the third quarter worth $38,000. Erste Asset Management GmbH purchased a new position in Passage Bio in the third quarter valued at $1,718,000. Lynx1 Capital Management LP grew 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 purchasing an additional 211,758 shares in the last quarter. Finally, Vestal Point Capital LP increased its holdings in Passage Bio by 0.8% during the 3rd 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. Institutional investors and hedge funds own 53.48% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Orbimed Advisors Llc sold 75,007 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $0.68, for a total transaction of $51,004.76. Following the completion of the sale, the insider now owns 7,257,845 shares in the company, valued at approximately $4,935,334.60. This represents a 1.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Lynx1 Capital Management Lp bought 373,645 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was bought at an average cost of $0.65 per share, for a total transaction of $242,869.25. Following the acquisition, the insider now owns 9,256,953 shares of the company’s stock, valued at approximately $6,017,019.45. This trade represents a 4.21 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 662,943 shares of company stock worth $408,099 and have sold 476,173 shares worth $327,112. 4.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Chardan Capital restated a “buy” rating and set a $7.00 target price on shares of Passage Bio in a research note on Thursday, November 14th. Wedbush began 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 for the company. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $13.00 target price on shares of Passage Bio in a report on Thursday, November 14th.

Passage Bio Price Performance

NASDAQ PASG opened at $0.67 on Monday. Passage Bio, Inc. has a 1 year low of $0.45 and a 1 year high of $1.79. The company has a market capitalization of $41.38 million, a PE ratio of -0.57 and a beta of 1.54. The company has a fifty day moving average of $0.68 and a two-hundred day moving average of $0.72.

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.