In This Article:
Overview of Recent Transaction by Orbimed Advisors LLC
On September 19, 2024, Orbimed Advisors LLC, a prominent investment firm, executed a significant transaction involving the shares of Passage Bio Inc (NASDAQ:PASG). The firm decided to reduce its holdings by 39,300 shares, which adjusted their total ownership to 7,794,569 shares. This move reflects a minor reduction, altering the firm's stake by approximately -0.50%. Despite this reduction, Orbimed Advisors LLC maintains a substantial position in Passage Bio, holding 12.62% of the company's shares, which represents 0.11% of their total portfolio.
Profile of Orbimed Advisors LLC
Founded in 1989, Orbimed Advisors LLC has grown into a global leader in healthcare investment, managing approximately $15 billion across various funds. The firm specializes in a broad spectrum of healthcare investments, ranging from venture capital in startups to equity in large multinational corporations. Orbimed's strategic approach is deeply rooted in comprehensive sectoral analysis and a keen understanding of the healthcare market dynamics. Their top holdings include major companies like Intuitive Surgical Inc and Eli Lilly and Co, reflecting their focus on innovation and substantial market potential.
Impact of the Trade on Orbimed's Portfolio
The recent transaction slightly adjusted Orbimed's exposure to Passage Bio Inc, aligning with their strategic portfolio management practices. Although the reduction was modest, it signals a recalibration of their investment stance towards Passage Bio, possibly due to evolving market conditions or shifts in investment strategy.
Introduction to Passage Bio Inc
Passage Bio Inc, a genetic medicines company based in the USA, focuses on developing therapies for rare, monogenic CNS disorders. Since its IPO on February 28, 2020, the company has been actively working on treatments for conditions like GM1 Gangliosidosis and Krabbe Disease. Despite its innovative pipeline, the company's financial health has been under pressure, reflected in its current market capitalization of approximately $39.915 million and a significant decline in stock price since the IPO.
Financial and Market Performance of Passage Bio Inc
Currently, Passage Bio's stock is trading at $0.6462, marking an 8.99% decrease since the transaction date. The company's performance year-to-date also shows a decline of 28.29%. With a GF Score of 36/100, the outlook based on historical and projected performance metrics is not optimistic. The company's financial strength and growth prospects are further challenged by a low Profitability Rank and absent Growth Rank.