Jane Street Group LLC Grows Holdings in Passage Bio, Inc. (NASDAQ:PASG)

Jane Street Group LLC grew its holdings in Passage Bio, Inc. (NASDAQ:PASG) by 537.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,190 shares of the company’s stock after purchasing an additional 65,919 shares during the period. Jane Street Group LLC owned about 0.13% of Passage Bio worth $44,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PASG. Tower Research Capital LLC TRC increased its stake in Passage Bio by 983.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 54,479 shares of the company’s stock worth $31,000 after purchasing an additional 49,449 shares during the period. Northern Trust Corp increased its stake in Passage Bio by 55.1% in the fourth quarter. Northern Trust Corp now owns 62,476 shares of the company’s stock worth $35,000 after purchasing an additional 22,195 shares during the period. Geode Capital Management LLC increased its stake in Passage Bio by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 531,565 shares of the company’s stock worth $302,000 after purchasing an additional 22,049 shares during the period. Finally, Lynx1 Capital Management LP increased its stake in shares of Passage Bio by 9.8% during the fourth quarter. Lynx1 Capital Management LP now owns 9,256,953 shares of the company’s stock valued at $5,250,000 after buying an additional 829,998 shares during the period. Hedge funds and other institutional investors own 53.48% of the company’s stock.

Insider Activity

In related news, major shareholder Orbimed Advisors Llc sold 77,090 shares of the firm’s stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $0.33, for a total transaction of $25,439.70. Following the sale, the insider now owns 6,885,572 shares of the company’s stock, valued at $2,272,238.76. This trade represents a 1.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 233,660 shares of company stock worth $77,723. Company insiders own 5.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Chardan Capital cut their price target on Passage Bio from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th.

Passage Bio Trading Up 9.1%

Shares of Passage Bio stock opened at $0.46 on Tuesday. The firm has a market cap of $28.67 million, a P/E ratio of -0.39 and a beta of 1.71. Passage Bio, Inc. has a 12 month low of $0.26 and a 12 month high of $1.33. The stock’s fifty day moving average price is $0.36 and its 200-day moving average price is $0.51.

Passage Bio (NASDAQ:PASG) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Analysts forecast that Passage Bio, Inc. will post -1.03 earnings per share for the current year.

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.