Passage Bio (NASDAQ:PASG) Trading Up 1.8% Following Insider Buying Activity

Passage Bio (NASDAQ:PASG) was up 1.8% during trading on Thursday following insider buying activity. The stock traded as high as $15.99 and last traded at $15.00, approximately 2,436 shares were traded during mid-day trading. A decline of 100% from the average daily volume of 640,102 shares. The stock had previously closed at $14.74.

Specifically, Director Athena Countouriotis bought 10,000 shares of the firm’s stock in a transaction on Tuesday, March 24th. The stock was bought at an average cost of $14.74 per share, for a total transaction of $147,400.00. Also, COO Jill M. Quigley bought 2,500 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was bought at an average price of $20.00 per share, with a total value of $50,000.00. Over the last 90 days, insiders acquired 794,100 shares of company stock valued at $15,829,400.

A number of equities analysts have commented on PASG shares. Cowen began coverage on Passage Bio in a report on Tuesday. They set an “outperform” rating on the stock. Chardan Capital began coverage on Passage Bio in a report on Wednesday. They set a “buy” rating and a $30.00 price target on the stock. Goldman Sachs Group began coverage on Passage Bio in a report on Tuesday. They set a “buy” rating and a $27.00 price target on the stock. Finally, JPMorgan Chase & Co. began coverage on Passage Bio in a report on Tuesday. They set an “overweight” rating and a $25.00 price target on the stock.

About Passage Bio (NASDAQ:PASG)

Passage Bio, Inc, a genetic medicines company, focuses on developing transformative therapies for rare monogenic central nervous system (CNS) diseases. It has a research, collaboration, and license agreement with the University of Pennsylvania and its gene therapy program. The company was founded in 2017 and is based in Philadelphia, Pennsylvania.

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