Passage Bio (NASDAQ:PASG) Shares Up 3.1%

Passage Bio, Inc. (NASDAQ:PASG) shot up 3.1% during mid-day trading on Thursday . The stock traded as high as $1.39 and last traded at $1.35. 185,433 shares traded hands during trading, a decline of 56% from the average session volume of 421,348 shares. The stock had previously closed at $1.31.

Analyst Ratings Changes

Separately, Canaccord Genuity Group reissued a “buy” rating and set a $14.00 price target on shares of Passage Bio in a report on Tuesday, March 5th.

Passage Bio Stock Up 3.1 %

The company has a market capitalization of $75.06 million, a PE ratio of -0.73 and a beta of 1.32. The stock’s fifty day simple moving average is $1.26 and its 200-day simple moving average is $0.92.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC grew its position in shares of Passage Bio by 4.5% in the third quarter. Acadian Asset Management LLC now owns 604,678 shares of the company’s stock valued at $396,000 after purchasing an additional 25,872 shares during the last quarter. HighTower Advisors LLC grew its position in shares of Passage Bio by 44.0% in the first quarter. HighTower Advisors LLC now owns 40,577 shares of the company’s stock valued at $120,000 after purchasing an additional 12,407 shares during the last quarter. Northern Trust Corp grew its position in shares of Passage Bio by 44.8% in the fourth quarter. Northern Trust Corp now owns 76,885 shares of the company’s stock valued at $78,000 after purchasing an additional 23,772 shares during the last quarter. PDT Partners LLC grew its position in shares of Passage Bio by 87.4% in the first quarter. PDT Partners LLC now owns 24,513 shares of the company’s stock valued at $76,000 after purchasing an additional 11,434 shares during the last quarter. Finally, Annandale Capital LLC grew its position in shares of Passage Bio by 35.8% in the fourth quarter. Annandale Capital LLC now owns 54,338 shares of the company’s stock valued at $75,000 after purchasing an additional 14,338 shares during the last quarter. 53.48% of the stock is owned by hedge funds and other institutional investors.

About Passage Bio

Passage Bio, Inc, a genetic medicines company, develops transformative 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.