The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Passage Bio Inc shares valued at $27,903 were sold by ORBIMED ADVISORS LLC on Sep 19 ’24. At $0.71 per share, ORBIMED ADVISORS LLC sold 39,300 shares. The insider’s holdings dropped to 7,794,569 shares worth approximately $4.99 million following the completion of this transaction.
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Also, ORBIMED ADVISORS LLC sold 111,400 shares, netting a total of over 81,322 in proceeds. Following the sale of shares at $0.73 each, the insider now holds 7,859,500 shares.
Before that, ORBIMED ADVISORS LLC had sold 63,100 shares from its account. In a trade valued at $46,694, the 10% Owner traded Passage Bio Inc shares for $0.74 each. Upon closing the transaction, the insider’s holdings decreased to 63,100 shares, worth approximately $5.1 million.
As published in their initiating research note from Rodman & Renshaw on September 03, 2024, Passage Bio Inc [PASG] has been a Buy and the price target has been revised to $7. Analysts at JP Morgan downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in early March. As of January 19, 2022, Goldman has decreased its “Buy” rating to a “Neutral” for PASG. Earlier on July 01, 2021, Raymond James initiated its rating. Their recommendation was “an Outperform” for PASG stock.
Analyzing PASG Stock Performance
During the last five days, there has been a surge of approximately 8.22%. Over the course of the year, Passage Bio Inc shares have dropped approximately -36.14%. Shares of the company reached a 52-week high of $1.7900 on 03/06/24 and a 52-week low of $0.5400 on 10/17/24. A 50-day SMA is recorded $0.6765, while a 200-day SMA reached $1.0320. Nevertheless, trading volume fell to 0.53 million shares from 0.42 million shares the previous day.
Support And Resistance Levels for Passage Bio Inc (PASG)
According to the 24-hour chart, there is a support level at 0.6036, which, if violated, would cause prices to drop to 0.5623. In the upper region, resistance lies at 0.6822. The next price resistance is at 0.7195. RSI (Relative Strength Index) is 52.20 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0103, which suggests the price will decrease in the coming days. Percent R is at 25.00%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.