Passage Bio, Inc. (NASDAQ:PASG) Shares Sold by Versant Venture Management LLC

Versant Venture Management LLC lessened its stake in Passage Bio, Inc. (NASDAQ:PASG) by 18.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,026,417 shares of the company’s stock after selling 933,352 shares during the quarter. Passage Bio accounts for about 4.1% of Versant Venture Management LLC’s investment portfolio, making the stock its 6th biggest holding. Versant Venture Management LLC owned about 6.53% of Passage Bio worth $3,198,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Affinity Asset Advisors LLC acquired a new position in shares of Passage Bio in the first quarter valued at approximately $357,000. Pale Fire Capital SE lifted its position in shares of Passage Bio by 489.1% in the fourth quarter. Pale Fire Capital SE now owns 581,257 shares of the company’s stock worth $587,000 after purchasing an additional 482,595 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Passage Bio by 59.0% in the first quarter. Acadian Asset Management LLC now owns 961,271 shares of the company’s stock worth $1,296,000 after purchasing an additional 356,593 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Passage Bio by 2.6% in the first quarter. Vanguard Group Inc. now owns 2,071,538 shares of the company’s stock worth $2,797,000 after purchasing an additional 52,656 shares in the last quarter. Finally, Lynx1 Capital Management LP lifted its position in shares of Passage Bio by 1,178.1% in the first quarter. Lynx1 Capital Management LP now owns 4,845,871 shares of the company’s stock worth $6,542,000 after purchasing an additional 4,466,712 shares in the last quarter. Institutional investors and hedge funds own 53.48% of the company’s stock.

Passage Bio Trading Up 6.1 %

NASDAQ PASG opened at $0.77 on Wednesday. The firm’s fifty day moving average price is $0.82 and its two-hundred day moving average price is $1.12. Passage Bio, Inc. has a 1 year low of $0.58 and a 1 year high of $1.79. The firm has a market capitalization of $47.69 million, a P/E ratio of -0.50 and a beta of 1.19.

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

Wall Street Analysts Forecast Growth

PASG has been the topic of a number of research reports. Canaccord Genuity Group cut their price objective on shares of Passage Bio from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Rodman & Renshaw initiated coverage on shares of Passage Bio in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $7.00 price objective on the stock.

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.