Passage Bio, Inc. (NASDAQ:PASG) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Passage Bio, Inc. (NASDAQ:PASGGet Free Report) have received a consensus recommendation of “Hold” from the nine brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $13.25.

Several equities analysts have recently weighed in on the company. UBS Group downgraded Passage Bio to a “neutral” rating in a research report on Wednesday, June 10th. Wall Street Zen downgraded shares of Passage Bio from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings lowered shares of Passage Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 6th. Finally, Guggenheim downgraded shares of Passage Bio from a “buy” rating to a “neutral” rating in a report on Wednesday, June 10th.

Get Our Latest Stock Report on Passage Bio

Insider Buying and Selling at Passage Bio

In related news, major shareholder Lynx1 Capital Management Lp purchased 50,055 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was acquired at an average cost of $4.12 per share, for a total transaction of $206,226.60. Following the completion of the transaction, the insider directly owned 673,759 shares of the company’s stock, valued at approximately $2,775,887.08. This trade represents a 8.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Passage Bio

Institutional investors have recently added to or reduced their stakes in the stock. Nano Cap New Millennium Growth Fund L P acquired a new position in Passage Bio during the fourth quarter worth $118,000. Quadrature Capital Ltd purchased a new position in shares of Passage Bio during the 4th quarter worth $148,000. Squarepoint Ops LLC purchased a new position in shares of Passage Bio during the 3rd quarter worth $188,000. Geode Capital Management LLC raised its holdings in shares of Passage Bio by 15.1% during the 4th quarter. Geode Capital Management LLC now owns 31,397 shares of the company’s stock worth $371,000 after acquiring an additional 4,114 shares during the period. Finally, Yiheng Capital Management L.P. acquired a new position in shares of Passage Bio during the 4th quarter valued at about $405,000. Hedge funds and other institutional investors own 53.48% of the company’s stock.

Passage Bio Stock Performance

Shares of Passage Bio stock opened at $4.44 on Monday. The firm has a market capitalization of $14.29 million, a PE ratio of -0.39 and a beta of 1.44. Passage Bio has a twelve month low of $3.29 and a twelve month high of $20.00. The firm’s 50-day moving average price is $4.80 and its 200 day moving average price is $6.45.

Passage Bio (NASDAQ:PASGGet Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($2.44) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($2.44). On average, sell-side analysts predict that Passage Bio will post -9.19 EPS for the current fiscal year.

About Passage Bio

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Passage Bio (NASDAQ:PASG)

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