Lynx1 Capital Management LP Acquires 829,998 Shares of Passage Bio, Inc. (NASDAQ:PASG)

Lynx1 Capital Management LP boosted its holdings in Passage Bio, Inc. (NASDAQ:PASG) by 9.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,256,953 shares of the company’s stock after acquiring an additional 829,998 shares during the period. Passage Bio accounts for 2.0% of Lynx1 Capital Management LP’s holdings, making the stock its 9th biggest position. Lynx1 Capital Management LP owned about 14.99% of Passage Bio worth $5,250,000 as of its most recent SEC filing.

Separately, Geode Capital Management LLC lifted its holdings 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 purchasing an additional 78,406 shares during the last quarter. Institutional investors and hedge funds own 53.48% of the company’s stock.

Passage Bio Trading Down 0.9 %

NASDAQ PASG opened at $0.32 on Friday. The company has a market cap of $20.01 million, a price-to-earnings ratio of -0.28 and a beta of 1.59. The company has a 50 day moving average of $0.42 and a 200-day moving average of $0.56. Passage Bio, Inc. has a 1-year low of $0.30 and a 1-year high of $1.64.

Passage Bio (NASDAQ:PASG) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.01. On average, equities research analysts forecast that Passage Bio, Inc. will post -1.03 earnings per share for the current year.

Insider Buying and Selling

In other Passage Bio news, major shareholder Orbimed Advisors Llc sold 78,049 shares of the firm’s stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $0.34, for a total value of $26,536.66. Following the sale, the insider now owns 6,807,523 shares of the company’s stock, valued at approximately $2,314,557.82. This trade represents a 1.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 233,660 shares of company stock valued at $77,723 over the last quarter. 4.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Chardan Capital lowered their price objective on Passage Bio from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th.

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.