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[Form 4] Passage Bio, Inc. Insider Trading Activity

Filing Impact
(Neutral)
Filing Sentiment
(Negative)
Form Type
4
Rhea-AI Filing Summary

Passage Bio (NASDAQ:PASG) filed a Form 4 showing that 10% owner OrbiMed Advisors, via OrbiMed Private Investments VII, sold 583,657 common shares on 24-26 Jun 2025 at an average price near $0.34.

The disposals cut OrbiMed鈥檚 indirect stake from roughly 6.65 million to 6.06 million shares, a reduction of about 8.8% of its holdings, yielding proceeds of approximately $0.20 million. No derivative trades were reported and the Rule 10b5-1 plan box was left unchecked.

  • OrbiMed remains a 鈮�10% beneficial owner.
  • The firm disclaims beneficial ownership beyond pecuniary interest.

Sizable sales by a controlling holder can weigh on sentiment despite the modest dollar amount.

Passage Bio (NASDAQ:PASG) ha presentato un Modulo 4 che mostra come OrbiMed Advisors, proprietario del 10% tramite OrbiMed Private Investments VII, abbia venduto 583.657 azioni ordinarie dal 24 al 26 giugno 2025 a un prezzo medio vicino a 0,34 $.

Le cessioni hanno ridotto la partecipazione indiretta di OrbiMed da circa 6,65 milioni a 6,06 milioni di azioni, una diminuzione di circa l'8,8% delle sue partecipazioni, con un ricavo di circa 0,20 milioni di dollari. Non sono state segnalate operazioni su derivati e la casella relativa al piano Rule 10b5-1 猫 rimasta deselezionata.

  • OrbiMed rimane un azionista beneficiario con almeno il 10%.
  • La societ脿 nega la propriet脿 beneficiaria al di l脿 dell'interesse pecuniario.

Vendite significative da parte di un azionista di controllo possono influenzare il sentiment anche se l'importo in dollari 猫 modesto.

Passage Bio (NASDAQ:PASG) present贸 un Formulario 4 que muestra que OrbiMed Advisors, propietario del 10% a trav茅s de OrbiMed Private Investments VII, vendi贸 583,657 acciones comunes entre el 24 y 26 de junio de 2025 a un precio promedio cercano a $0.34.

Las disposiciones redujeron la participaci贸n indirecta de OrbiMed de aproximadamente 6.65 millones a 6.06 millones de acciones, una reducci贸n de alrededor del 8.8% de sus tenencias, generando ingresos de aproximadamente $0.20 millones. No se reportaron operaciones con derivados y la casilla del plan Rule 10b5-1 qued贸 sin marcar.

  • OrbiMed sigue siendo un propietario beneficiario con 鈮�10%.
  • La firma niega la propiedad beneficiaria m谩s all谩 del inter茅s pecuniario.

Las ventas considerables por parte de un accionista controlador pueden afectar el sentimiento a pesar del modesto monto en d贸lares.

Passage Bio (NASDAQ:PASG)電� OrbiMed Advisors臧� OrbiMed Private Investments VII毳� 韱淀暣 10% 歆�攵勳潉 氤挫湢頃橁碃 鞛堨溂氅�, 2025雲� 6鞗� 24鞚茧秬韯� 26鞚缄箤歆� 鞎� $0.34鞚� 韽夑窢 臧�瓴╈溂搿� 583,657欤� 氤错喌欤茧ゼ 毵る弰頄堧嫟電� 雮挫毄鞚� 雼挫潃 Form 4毳� 鞝滌稖頄堨姷雼堧嫟.

鞚措矆 毵る弰搿� OrbiMed鞚� 臧勳爲 歆�攵勳潃 鞎� 665毵� 欤检棎靹� 606毵� 欤�搿� 欷勳柎霌れ棃鞙茧┌, 鞚措姅 氤挫湢 歆�攵勳潣 鞎� 8.8% 臧愳唽鞐� 頃措嫻頃橂┌, 鞎� $0.20氚彪鞚� 靾橃澋鞚� 彀届稖頄堨姷雼堧嫟. 韺岇儩靸來拡 瓯半灅電� 氤搓碃霅橃 鞎婌晿瓿� Rule 10b5-1 瓿勴殟 氚曥姢電� 靹犿儩霅橃 鞎婌晿鞀惦媹雼�.

  • OrbiMed電� 鞐爠頌� 10% 鞚挫儊鞚� 鞁れ鞝� 靻岇湢鞛愳瀰雼堧嫟.
  • 須岇偓電� 旮堨爠鞝� 鞚挫澋 鞚挫儊鞚� 鞁れ 靻岇湢甓岇潉 攵�鞚疙暕雼堧嫟.

歆�氚� 欤检＜鞚� 雽�攴滊 毵る弰電� 旮堨暋鞚� 鞝侂崝霛茧弰 韴瀽 鞁Μ鞐� 鞓來枼鞚� 欷� 靾� 鞛堨姷雼堧嫟.

Passage Bio (NASDAQ:PASG) a d茅pos茅 un formulaire 4 indiquant que OrbiMed Advisors, propri茅taire de 10% via OrbiMed Private Investments VII, a vendu 583 657 actions ordinaires du 24 au 26 juin 2025 脿 un prix moyen proche de 0,34 $.

Ces cessions ont r茅duit la participation indirecte d'OrbiMed d'environ 6,65 millions 脿 6,06 millions d'actions, soit une r茅duction d'environ 8,8% de ses avoirs, g茅n茅rant des recettes d'environ 0,20 million de dollars. Aucune transaction sur d茅riv茅s n'a 茅t茅 signal茅e et la case du plan Rule 10b5-1 est rest茅e d茅coch茅e.

  • OrbiMed reste un propri茅taire b茅n茅ficiaire 鈮�10%.
  • La soci茅t茅 d茅cline toute propri茅t茅 b茅n茅ficiaire au-del脿 de l'int茅r锚t p茅cuniaire.

Des ventes importantes par un actionnaire contr么lant peuvent peser sur le sentiment malgr茅 le montant modeste en dollars.

Passage Bio (NASDAQ:PASG) reichte ein Formular 4 ein, das zeigt, dass der 10%-Eigent眉mer OrbiMed Advisors 眉ber OrbiMed Private Investments VII am 24. bis 26. Juni 2025 insgesamt 583.657 Stammaktien verkauft hat zu einem durchschnittlichen Preis von etwa 0,34 $.

Die Ver盲u脽erungen reduzierten OrbiMeds indirekten Anteil von etwa 6,65 Millionen auf 6,06 Millionen Aktien, eine Verringerung um etwa 8,8% seines Bestands, was Erl枚se von etwa 0,20 Millionen $ einbrachte. Es wurden keine Derivatgesch盲fte gemeldet und das Feld f眉r den Rule 10b5-1 Plan blieb ungepr眉ft.

  • OrbiMed bleibt ein wirtschaftlicher Eigent眉mer von 鈮�10%.
  • Das Unternehmen verneint eine wirtschaftliche Eigent眉merschaft 眉ber das finanzielle Interesse hinaus.

Erhebliche Verk盲ufe eines kontrollierenden Anteilseigners k枚nnen trotz des bescheidenen Dollarbetrags die Stimmung belasten.

Positive
  • None.
Negative
  • 10% owner OrbiMed Advisors sold 583,657 PASG shares (~8.8% of its holdings) over three days at an average price of roughly $0.34.

Insights

TL;DR: 10% holder pares stake by 9%, potential bearish sentiment.

Materiality: A disposal above 5% of an insider鈥檚 position meets SEC significance thresholds. Magnitude: 583,657 shares represents ~8.8% of the prior stake, signalling a non-trivial rebalance.

Sentiment impact: Sales unlinked to a 10b5-1 plan may be interpreted as diminished confidence ahead of catalysts or a need for liquidity. OrbiMed鈥檚 continued control means future sales could further pressure shares.

Governance view: No accompanying governance shifts; standard beneficial ownership disclaimers remain. The event is negative for perception rather than compliance.

TL;DR: Limited cash raised; watch near-term overhang risk.

The ~$0.20 M proceeds are immaterial in absolute terms, yet insider selling during a sub-$1 price regime may cap upside. The transaction equals roughly 0.8% of the public float鈥攕mall mechanically鈥攂ut investor psychology often amplifies insider signals.

With 6.06 M shares still held, OrbiMed remains influential; a follow-on disposal would be more damaging. Fundamentals stay unchanged, but short-term supply dynamics warrant monitoring.

Passage Bio (NASDAQ:PASG) ha presentato un Modulo 4 che mostra come OrbiMed Advisors, proprietario del 10% tramite OrbiMed Private Investments VII, abbia venduto 583.657 azioni ordinarie dal 24 al 26 giugno 2025 a un prezzo medio vicino a 0,34 $.

Le cessioni hanno ridotto la partecipazione indiretta di OrbiMed da circa 6,65 milioni a 6,06 milioni di azioni, una diminuzione di circa l'8,8% delle sue partecipazioni, con un ricavo di circa 0,20 milioni di dollari. Non sono state segnalate operazioni su derivati e la casella relativa al piano Rule 10b5-1 猫 rimasta deselezionata.

  • OrbiMed rimane un azionista beneficiario con almeno il 10%.
  • La societ脿 nega la propriet脿 beneficiaria al di l脿 dell'interesse pecuniario.

Vendite significative da parte di un azionista di controllo possono influenzare il sentiment anche se l'importo in dollari 猫 modesto.

Passage Bio (NASDAQ:PASG) present贸 un Formulario 4 que muestra que OrbiMed Advisors, propietario del 10% a trav茅s de OrbiMed Private Investments VII, vendi贸 583,657 acciones comunes entre el 24 y 26 de junio de 2025 a un precio promedio cercano a $0.34.

Las disposiciones redujeron la participaci贸n indirecta de OrbiMed de aproximadamente 6.65 millones a 6.06 millones de acciones, una reducci贸n de alrededor del 8.8% de sus tenencias, generando ingresos de aproximadamente $0.20 millones. No se reportaron operaciones con derivados y la casilla del plan Rule 10b5-1 qued贸 sin marcar.

  • OrbiMed sigue siendo un propietario beneficiario con 鈮�10%.
  • La firma niega la propiedad beneficiaria m谩s all谩 del inter茅s pecuniario.

Las ventas considerables por parte de un accionista controlador pueden afectar el sentimiento a pesar del modesto monto en d贸lares.

Passage Bio (NASDAQ:PASG)電� OrbiMed Advisors臧� OrbiMed Private Investments VII毳� 韱淀暣 10% 歆�攵勳潉 氤挫湢頃橁碃 鞛堨溂氅�, 2025雲� 6鞗� 24鞚茧秬韯� 26鞚缄箤歆� 鞎� $0.34鞚� 韽夑窢 臧�瓴╈溂搿� 583,657欤� 氤错喌欤茧ゼ 毵る弰頄堧嫟電� 雮挫毄鞚� 雼挫潃 Form 4毳� 鞝滌稖頄堨姷雼堧嫟.

鞚措矆 毵る弰搿� OrbiMed鞚� 臧勳爲 歆�攵勳潃 鞎� 665毵� 欤检棎靹� 606毵� 欤�搿� 欷勳柎霌れ棃鞙茧┌, 鞚措姅 氤挫湢 歆�攵勳潣 鞎� 8.8% 臧愳唽鞐� 頃措嫻頃橂┌, 鞎� $0.20氚彪鞚� 靾橃澋鞚� 彀届稖頄堨姷雼堧嫟. 韺岇儩靸來拡 瓯半灅電� 氤搓碃霅橃 鞎婌晿瓿� Rule 10b5-1 瓿勴殟 氚曥姢電� 靹犿儩霅橃 鞎婌晿鞀惦媹雼�.

  • OrbiMed電� 鞐爠頌� 10% 鞚挫儊鞚� 鞁れ鞝� 靻岇湢鞛愳瀰雼堧嫟.
  • 須岇偓電� 旮堨爠鞝� 鞚挫澋 鞚挫儊鞚� 鞁れ 靻岇湢甓岇潉 攵�鞚疙暕雼堧嫟.

歆�氚� 欤检＜鞚� 雽�攴滊 毵る弰電� 旮堨暋鞚� 鞝侂崝霛茧弰 韴瀽 鞁Μ鞐� 鞓來枼鞚� 欷� 靾� 鞛堨姷雼堧嫟.

Passage Bio (NASDAQ:PASG) a d茅pos茅 un formulaire 4 indiquant que OrbiMed Advisors, propri茅taire de 10% via OrbiMed Private Investments VII, a vendu 583 657 actions ordinaires du 24 au 26 juin 2025 脿 un prix moyen proche de 0,34 $.

Ces cessions ont r茅duit la participation indirecte d'OrbiMed d'environ 6,65 millions 脿 6,06 millions d'actions, soit une r茅duction d'environ 8,8% de ses avoirs, g茅n茅rant des recettes d'environ 0,20 million de dollars. Aucune transaction sur d茅riv茅s n'a 茅t茅 signal茅e et la case du plan Rule 10b5-1 est rest茅e d茅coch茅e.

  • OrbiMed reste un propri茅taire b茅n茅ficiaire 鈮�10%.
  • La soci茅t茅 d茅cline toute propri茅t茅 b茅n茅ficiaire au-del脿 de l'int茅r锚t p茅cuniaire.

Des ventes importantes par un actionnaire contr么lant peuvent peser sur le sentiment malgr茅 le montant modeste en dollars.

Passage Bio (NASDAQ:PASG) reichte ein Formular 4 ein, das zeigt, dass der 10%-Eigent眉mer OrbiMed Advisors 眉ber OrbiMed Private Investments VII am 24. bis 26. Juni 2025 insgesamt 583.657 Stammaktien verkauft hat zu einem durchschnittlichen Preis von etwa 0,34 $.

Die Ver盲u脽erungen reduzierten OrbiMeds indirekten Anteil von etwa 6,65 Millionen auf 6,06 Millionen Aktien, eine Verringerung um etwa 8,8% seines Bestands, was Erl枚se von etwa 0,20 Millionen $ einbrachte. Es wurden keine Derivatgesch盲fte gemeldet und das Feld f眉r den Rule 10b5-1 Plan blieb ungepr眉ft.

  • OrbiMed bleibt ein wirtschaftlicher Eigent眉mer von 鈮�10%.
  • Das Unternehmen verneint eine wirtschaftliche Eigent眉merschaft 眉ber das finanzielle Interesse hinaus.

Erhebliche Verk盲ufe eines kontrollierenden Anteilseigners k枚nnen trotz des bescheidenen Dollarbetrags die Stimmung belasten.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
X
 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
ORBIMED ADVISORS LLC
(Last) (First) (Middle)
601 LEXINGTON AVENUE
54TH FLOOR
(Street)
NEW YORK NY 10022
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Passage BIO, Inc. [ PASG ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
06/24/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 06/24/2025 S 231,600 D $0.35 6,418,400 I See footnotes(1)(2)
Common Stock 06/25/2025 S 138,800 D $0.33 6,279,600 I See footnotes(1)(2)
Common Stock 06/26/2025 S 213,257 D $0.33 6,066,343 I See footnotes(1)(2)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
1. Name and Address of Reporting Person*
ORBIMED ADVISORS LLC
(Last) (First) (Middle)
601 LEXINGTON AVENUE
54TH FLOOR
(Street)
NEW YORK NY 10022
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
OrbiMed Capital GP VII LLC
(Last) (First) (Middle)
601 LEXINGTON AVENUE
54TH FLOOR
(Street)
NEW YORK NY 10022
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
Explanation of Responses:
1. These shares of the Issuer's common stock are held of record by OrbiMed Private Investments VII, LP ("OPI VII"). OrbiMed Capital GP VII LLC ("GP VII") is the general partner of OPI VII, and OrbiMed Advisors LLC ("OrbiMed Advisors"), a registered investment adviser under the Investment Advisors Act of 1940, as amended, is the managing member of GP VII. By virtue of such relationships, GP VII and OrbiMed Advisors may be deemed to have voting and investment power over the shares of common stock held by OPI VII and, as a result, may be deemed to have beneficial ownership over such shares of common stock. OrbiMed Advisors exercises this investment and voting power through a management committee comprised of Carl L. Gordon, Sven H. Borho, and W. Carter Neild, each of whom disclaims beneficial ownership over the shares of common stock held by OPI VII.
2. Each of OrbiMed Advisors and GP VII disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its pecuniary interest therein, if any. This report shall not be deemed an admission that any such entity is a beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.
/s/ Carl L. Gordon, Member of OrbiMed Advisors LLC 06/26/2025
/s/ Carl L. Gordon, Member of OrbiMed Capital GP VII LLC 06/26/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source:

FAQ

How many PASG shares did OrbiMed sell in the June 2025 Form 4?

OrbiMed disposed of 583,657 common shares between 24-26 June 2025.

What was the average price of the PASG shares sold by OrbiMed?

Sale prices ranged from $0.33 to $0.35, averaging about $0.34 per share.

What percentage of OrbiMed鈥檚 PASG stake was reduced?

The sale lowered OrbiMed鈥檚 holdings by approximately 8.8%.

How many PASG shares does OrbiMed still own after the sale?

OrbiMed remains beneficial owner of 6,066,343 shares.

Was the insider sale executed under a Rule 10b5-1 trading plan?

The filing鈥檚 10b5-1 checkbox was not marked, indicating no disclosed trading plan.
Stock PASG logo
Passage Bio, Inc.

NASDAQ:PASG

PASG Rankings

#9135 Ranked by Market Cap
N/A Ranked by Dividends

PASG Latest News

Jul 10, 2025
Passage Bio Announces 1-for-20 Reverse Stock Split
Jun 23, 2025
Passage Bio Reports Updated Interim Data from upliFT-D Study and Provides Program Update
May 13, 2025
Passage Bio Reports First Quarter 2025 Financial Results and Provides Recent Business Highlights
Mar 4, 2025
Passage Bio Reports Fourth Quarter and Full Year 2024 Financial Results and Provides Recent Business Highlights
Feb 26, 2025
Passage Bio to Participate in Upcoming Investor Conferences

PASG Latest SEC Filings

Jul 29, 2025
[8-K] Passage Bio, Inc. Reports Material Event
Jul 24, 2025
[Form 4] Passage Bio, Inc. Insider Trading Activity
Jul 24, 2025
[SCHEDULE 13D/A] Passage Bio, Inc. SEC Filing
Jul 21, 2025
[144] Passage Bio, Inc. SEC Filing
Jul 21, 2025
[SCHEDULE 13D/A] Passage Bio, Inc. SEC Filing

PASG Stock Data

17.91M
2.98M
0.21%
56.03%
3.47%
Biotechnology
Biological Products, (no Disgnostic Substances)
United States
PHILADELPHIA