Orbimed Advisors Llc Sells 138,800 Shares of Passage Bio, Inc. (NASDAQ:PASG) Stock

Passage Bio, Inc. (NASDAQ:PASG) major shareholder Orbimed Advisors Llc sold 138,800 shares of the business’s stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $0.33, for a total value of $45,804.00. Following the completion of the transaction, the insider now owns 6,279,600 shares in the company, valued at $2,072,268. The trade was a 2.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Orbimed Advisors Llc also recently made the following trade(s):

• On Thursday, June 26th, Orbimed Advisors Llc sold 213,257 shares of Passage Bio stock. The shares were sold at an average price of $0.33, for a total value of $70,374.81.
• On Tuesday, June 24th, Orbimed Advisors Llc sold 231,600 shares of Passage Bio stock. The stock was sold at an average price of $0.35, for a total value of $81,060.00.
• On Thursday, April 24th, Orbimed Advisors Llc sold 68,195 shares of Passage Bio stock. The stock was sold at an average price of $0.32, for a total value of $21,822.40.
• On Tuesday, April 22nd, Orbimed Advisors Llc sold 78,049 shares of Passage Bio stock. The stock was sold at an average price of $0.34, for a total value of $26,536.66.
• On Thursday, April 17th, Orbimed Advisors Llc sold 77,090 shares of Passage Bio stock. The stock was sold at an average price of $0.33, for a total value of $25,439.70.
• On Tuesday, April 15th, Orbimed Advisors Llc sold 10,326 shares of Passage Bio stock. The shares were sold at an average price of $0.38, for a total value of $3,923.88.

Passage Bio Price Performance

Shares of PASG stock opened at $0.33 on Friday. Passage Bio, Inc. has a 1 year low of $0.26 and a 1 year high of $1.33. The stock’s 50 day simple moving average is $0.37 and its two-hundred day simple moving average is $0.48. The company has a market cap of $20.58 million, a PE ratio of -0.32 and a beta of 1.71.

Passage Bio (NASDAQ:PASG) last released its earnings results on Tuesday, May 13th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Equities research analysts expect that Passage Bio, Inc. will post -1.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Chardan Capital restated a “buy” rating and set a $6.00 price objective on shares of Passage Bio in a research report on Tuesday.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Simplex Trading LLC grew its stake in shares of Passage Bio by 9,311.0% during the first quarter. Simplex Trading LLC now owns 82,346 shares of the company’s stock valued at $29,000 after buying an additional 81,471 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Passage Bio by 983.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 54,479 shares of the company’s stock valued at $31,000 after buying an additional 49,449 shares during the last quarter. Northern Trust Corp grew its stake in shares of Passage Bio by 55.1% during the fourth quarter. Northern Trust Corp now owns 62,476 shares of the company’s stock valued at $35,000 after buying an additional 22,195 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of Passage Bio by 129.5% during the fourth quarter. Squarepoint Ops LLC now owns 64,099 shares of the company’s stock valued at $36,000 after buying an additional 36,172 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in shares of Passage Bio by 537.2% during the fourth quarter. Jane Street Group LLC now owns 78,190 shares of the company’s stock valued at $44,000 after buying an additional 65,919 shares during the last quarter. Institutional investors own 53.48% of the company’s stock.

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.