Chardan Capital Forecasts Weaker Earnings for Passage Bio

Passage Bio, Inc. (NASDAQ:PASG) – Investment analysts at Chardan Capital decreased their FY2025 earnings estimates for shares of Passage Bio in a report issued on Wednesday, November 12th. Chardan Capital analyst Y. Livshits now forecasts that the company will earn ($13.31) per share for the year, down from their prior estimate of ($6.40). Chardan Capital has a “Buy” rating and a $21.00 price objective on the stock. The consensus estimate for Passage Bio’s current full-year earnings is ($1.03) per share.

A number of other equities research analysts have also issued reports on the company. Wedbush lifted their target price on Passage Bio to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, August 13th. Wall Street Zen raised shares of Passage Bio to a “hold” rating in a research report on Friday, September 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Passage Bio in a research report on Wednesday, October 8th. Finally, Canaccord Genuity Group reduced their price target on Passage Bio from $260.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, August 14th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $42.67.

Passage Bio Stock Down 5.1%

Shares of NASDAQ PASG opened at $8.52 on Monday. The company’s fifty day moving average is $7.77 and its 200-day moving average is $7.36. Passage Bio has a twelve month low of $5.12 and a twelve month high of $26.60. The stock has a market cap of $27.09 million, a price-to-earnings ratio of -0.59 and a beta of 1.94.

Passage Bio (NASDAQ:PASG) last posted its quarterly earnings results on Monday, November 10th. The company reported ($2.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.64) by $0.20.

Insider Activity at Passage Bio

In other news, major shareholder Lynx1 Capital Management Lp purchased 19,783 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was bought at an average price of $6.99 per share, for a total transaction of $138,283.17. Following the purchase, the insider owned 611,804 shares of the company’s stock, valued at $4,276,509.96. The trade was a 3.34% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders acquired 32,008 shares of company stock worth $223,726. 4.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Passage Bio stock. Squarepoint Ops LLC acquired a new position in Passage Bio, Inc. (NASDAQ:PASG) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 23,500 shares of the company’s stock, valued at approximately $188,000. Squarepoint Ops LLC owned approximately 0.74% of Passage Bio as of its most recent filing with the Securities & Exchange Commission. 53.48% of the stock is owned by institutional investors.

About Passage Bio

Passage Bio, Inc, a genetic medicines company, develops gene therapies for central nervous system diseases. It develops PBGM01, a functional GLB1 gene encoding ß-galactosidase for infantile GM1; PBFT02, a functional granulin (GRN) and gene encoding progranulin (PGRN) for the treatment of FTD caused by progranulin deficiency; and PBKR03, a functional GALC gene encoding the hydrolytic enzyme galactosylceramidase for infantile Krabbe disease.