Passage Bio, Inc. (NASDAQ:PASG - Get Free Report) major shareholder Lynx1 Capital Management Lp bought 50,055 shares of the business's stock in a transaction that occurred on Thursday, June 25th. The shares were bought at an average cost of $4.12 per share, with a total value of $206,226.60. Following the completion of the purchase, the insider directly owned 673,759 shares of the company's stock, valued at $2,775,887.08. This represents a 8.03% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Passage Bio Stock Performance
Shares of NASDAQ PASG opened at $4.85 on Tuesday. The company has a market cap of $15.57 million, a P/E ratio of -0.41 and a beta of 1.41. Passage Bio, Inc. has a 52-week low of $3.29 and a 52-week high of $20.00. The firm's fifty day moving average is $5.51 and its two-hundred day moving average is $8.60.
Passage Bio (NASDAQ:PASG - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($2.36) EPS for the quarter, beating the consensus estimate of ($2.76) by $0.40. As a group, analysts forecast that Passage Bio, Inc. will post -8.62 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Passage Bio in a research note on Wednesday, June 24th. UBS Group cut Passage Bio to a "neutral" rating in a report on Wednesday, June 10th. Chardan Capital set a $7.00 price objective on Passage Bio and gave the stock a "neutral" rating in a report on Tuesday, April 21st. Guggenheim downgraded Passage Bio from a "buy" rating to a "neutral" rating in a research report on Wednesday, June 10th. Finally, TD Cowen lowered shares of Passage Bio from a "buy" rating to a "hold" rating in a report on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $13.25.
Read Our Latest Stock Analysis on PASG
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its stake in shares of Passage Bio by 22.5% in the 1st quarter. Renaissance Technologies LLC now owns 133,612 shares of the company's stock valued at $1,049,000 after purchasing an additional 24,523 shares during the last quarter. Eversept Partners LP increased its position in shares of Passage Bio by 4.2% during the 1st quarter. Eversept Partners LP now owns 131,581 shares of the company's stock valued at $1,033,000 after purchasing an additional 5,351 shares during the last quarter. Yiheng Capital Management L.P. bought a new position in shares of Passage Bio during the 4th quarter valued at approximately $405,000. Geode Capital Management LLC raised its holdings in Passage Bio by 15.1% during the 4th quarter. Geode Capital Management LLC now owns 31,397 shares of the company's stock valued at $371,000 after buying an additional 4,114 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in Passage Bio during the 3rd quarter valued at $188,000. Institutional investors own 53.48% of the company's stock.
Passage Bio Company Profile
(
Get Free Report)
Passage Bio is a clinical-stage biotechnology company focused on the development of gene therapies to treat rare, monogenic central nervous system and neuromuscular disorders. The company applies its in-house gene therapy platform to design and engineer adeno-associated virus (AAV)–based vectors that restore or replace defective genes, aiming to deliver durable treatments with a single administration.
The company's lead programs include PBGM01, an AAV9-based therapy for GM2 gangliosidoses (Tay–Sachs and Sandhoff diseases), which is conducting a first-in-human study to assess safety and potential therapeutic benefit.
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