Insider Selling: Passage Bio (NASDAQ:PASG) CEO Sells $75,161.44 in Stock

Passage Bio, Inc. (NASDAQ:PASG) CEO William Chou sold 4,076 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $18.44, for a total value of $75,161.44. Following the transaction, the chief executive officer owned 6,524 shares of the company’s stock, valued at approximately $120,302.56. This represents a 38.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Passage Bio Trading Down 9.8%

NASDAQ PASG traded down $1.94 during trading on Monday, hitting $17.91. The company had a trading volume of 82,426 shares, compared to its average volume of 159,525. Passage Bio, Inc. has a one year low of $5.12 and a one year high of $20.00. The company has a market cap of $56.94 million, a price-to-earnings ratio of -1.24 and a beta of 1.76. The company’s fifty day moving average is $10.04 and its 200-day moving average is $8.24.

Passage Bio (NASDAQ:PASG) last issued its quarterly earnings data on Monday, November 10th. The company reported ($2.44) EPS for the quarter, topping the consensus estimate of ($2.64) by $0.20. As a group, equities analysts anticipate that Passage Bio, Inc. will post -1.03 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Passage Bio stock. Squarepoint Ops LLC purchased a new stake in shares of Passage Bio, Inc. (NASDAQ:PASG) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 23,500 shares of the company’s stock, valued at approximately $188,000. Squarepoint Ops LLC owned 0.74% of Passage Bio at the end of the most recent reporting period. Institutional investors own 53.48% of the company’s stock.

Analyst Ratings Changes

PASG has been the topic of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Passage Bio in a research note on Monday, December 29th. Chardan Capital raised their price objective on Passage Bio to $21.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Passage Bio presently has an average rating of “Moderate Buy” and a consensus target price of $42.67.

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.