Vestal Point Capital LP Boosts Stock Position in Passage Bio, Inc. (NASDAQ:PASG)

Vestal Point Capital LP lifted its position in Passage Bio, Inc. (NASDAQ:PASG) by 0.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,100,000 shares of the company’s stock after purchasing an additional 48,000 shares during the period. Vestal Point Capital LP owned about 9.88% of Passage Bio worth $4,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of PASG. Vanguard Group Inc. raised its position in shares of Passage Bio by 2.6% during 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 during the last quarter. Landscape Capital Management L.L.C. purchased a new position in Passage Bio during the third quarter valued at $38,000. Finally, Lynx1 Capital Management LP increased its holdings in Passage Bio by 4.4% in the 2nd quarter. Lynx1 Capital Management LP now owns 5,057,629 shares of the company’s stock valued at $4,017,000 after acquiring an additional 211,758 shares during the last quarter. Hedge funds and other institutional investors own 53.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Chardan Capital restated a “buy” rating and set a $7.00 price objective on shares of Passage Bio in a research report on Thursday, November 14th. Canaccord Genuity Group restated a “buy” rating and set a $13.00 price target on shares of Passage Bio in a report on Thursday, November 14th. Finally, Rodman & Renshaw initiated coverage on Passage Bio in a report on Tuesday, September 3rd. They set a “buy” rating and a $7.00 price objective on the stock.

Passage Bio Stock Performance

Passage Bio stock opened at $0.67 on Friday. The company’s 50-day moving average price is $0.61 and its 200-day moving average price is $0.82. Passage Bio, Inc. has a twelve month low of $0.45 and a twelve month high of $1.79.

Insider Buying and Selling

In other news, major shareholder Lynx1 Capital Management Lp purchased 259,998 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average cost of $0.56 per share, for a total transaction of $145,598.88. Following the acquisition, the insider now owns 8,686,953 shares of the company’s stock, valued at approximately $4,864,693.68. This trade represents a 3.09 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Orbimed Advisors Llc sold 63,100 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $0.74, for a total transaction of $46,694.00. Following the completion of the sale, the insider now directly owns 7,970,900 shares of the company’s stock, valued at approximately $5,898,466. The trade was a 0.79 % decrease in their position. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by company insiders.

Passage Bio Company 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.