Passage Bio, Inc. (NASDAQ:PASG – Get Free Report) has been given a consensus recommendation of “Hold” by the nine brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $13.25.
PASG has been the topic of a number of research reports. TD Cowen cut shares of Passage Bio from a “buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Passage Bio in a research note on Wednesday, June 24th. Guggenheim downgraded Passage Bio from a “buy” rating to a “neutral” rating in a report on Wednesday, June 10th. UBS Group lowered Passage Bio to a “neutral” rating in a research report on Wednesday, June 10th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $8.00 target price (down from $32.00) on shares of Passage Bio in a report on Tuesday, April 21st.
Check Out Our Latest Analysis on Passage Bio
Insider Activity at Passage Bio
Hedge Funds Weigh In On Passage Bio
A number of hedge funds have recently modified their holdings of PASG. Squarepoint Ops LLC acquired a new stake in Passage Bio in the third quarter worth $188,000. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Passage Bio during the fourth quarter valued at about $118,000. Geode Capital Management LLC raised its holdings in shares of Passage Bio by 15.1% during the fourth quarter. Geode Capital Management LLC now owns 31,397 shares of the company’s stock valued at $371,000 after purchasing an additional 4,114 shares during the period. Renaissance Technologies LLC boosted its position in shares of Passage Bio by 8.2% during the 4th quarter. Renaissance Technologies LLC now owns 109,089 shares of the company’s stock worth $1,287,000 after purchasing an additional 8,300 shares in the last quarter. Finally, Eversept Partners LP acquired a new stake in shares of Passage Bio in the 4th quarter valued at about $1,490,000. Institutional investors and hedge funds own 53.48% of the company’s stock.
Passage Bio Stock Performance
Shares of PASG traded down $0.14 during mid-day trading on Friday, reaching $4.57. The company had a trading volume of 39,596 shares, compared to its average volume of 145,679. The company’s 50 day simple moving average is $5.19 and its 200 day simple moving average is $8.29. Passage Bio has a 1-year low of $3.29 and a 1-year high of $20.00. The company has a market capitalization of $14.67 million, a price-to-earnings ratio of -0.39 and a beta of 1.42.
Passage Bio (NASDAQ:PASG – Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($2.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.76) by $0.40. As a group, equities analysts forecast that Passage Bio will post -8.62 earnings per share for the current fiscal year.
About Passage Bio
Passage Bio is a clinical-stage biotechnology company focused on the development of gene therapies to treat rare, monogenic central nervous system and neuromuscular disorders. The company applies its in-house gene therapy platform to design and engineer adeno-associated virus (AAV)–based vectors that restore or replace defective genes, aiming to deliver durable treatments with a single administration.
The company’s lead programs include PBGM01, an AAV9-based therapy for GM2 gangliosidoses (Tay–Sachs and Sandhoff diseases), which is conducting a first-in-human study to assess safety and potential therapeutic benefit.
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