Passage Bio’s (PASG) Buy Rating Reiterated at Chardan Capital

Chardan Capital reiterated their buy rating on shares of Passage Bio (NASDAQ:PASG) in a research note published on Thursday,Benzinga reports. They currently have a $7.00 price objective on the stock.

PASG has been the subject of a number of other reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $13.00 price objective on shares of Passage Bio in a report on Thursday. Rodman & Renshaw assumed coverage on shares of Passage Bio in a research note on Tuesday, September 3rd. They set a “buy” rating and a $7.00 price target for the company.

Passage Bio Price Performance

Shares of PASG stock opened at $0.52 on Thursday. Passage Bio has a one year low of $0.49 and a one year high of $1.79. The stock has a fifty day moving average price of $0.64 and a 200 day moving average price of $0.87. The stock has a market cap of $32.06 million, a P/E ratio of -0.44 and a beta of 1.20.

Insider Transactions at Passage Bio

In other news, major shareholder Orbimed Advisors Llc sold 63,100 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $0.74, for a total value of $46,694.00. Following the transaction, the insider now directly owns 7,970,900 shares of the company’s stock, valued at $5,898,466. The trade was a 0.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Passage Bio

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake 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 valued at $2,797,000 after buying an additional 52,656 shares in the last quarter. Acadian Asset Management LLC increased its position in Passage Bio by 59.0% in the 1st quarter. Acadian Asset Management LLC now owns 961,271 shares of the company’s stock valued at $1,296,000 after acquiring an additional 356,593 shares in the last quarter. Affinity Asset Advisors LLC bought a new position in shares of Passage Bio in the first quarter worth about $357,000. Lynx1 Capital Management LP lifted its position in shares of Passage Bio by 1,178.1% during 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. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of Passage Bio during the third quarter valued at approximately $38,000. Institutional investors own 53.48% of the company’s stock.

About Passage Bio

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.