Passage Bio, Inc. (NASDAQ:PASG) Given Average Rating of “Hold” by Analysts

Shares of Passage Bio, Inc. (NASDAQ:PASG) have earned a consensus recommendation of “Hold” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $13.25.

Several equities analysts have commented on PASG shares. Lucid Cap Mkts cut shares of Passage Bio from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. TD Cowen lowered shares of Passage Bio from a “buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Wall Street Zen upgraded shares of Passage Bio from a “strong sell” rating to a “sell” rating in a report on Sunday, May 3rd. Oppenheimer lowered their price objective on shares of Passage Bio from $30.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 21st. Finally, Chardan Capital set a $7.00 target price on Passage Bio and gave the stock a “neutral” rating in a research report on Tuesday, April 21st.

Passage Bio Stock Performance

Shares of PASG stock opened at $5.57 on Wednesday. Passage Bio has a 1 year low of $3.93 and a 1 year high of $20.00. The firm has a market capitalization of $17.88 million, a PE ratio of -0.47 and a beta of 1.41. The stock has a fifty day moving average of $6.61 and a two-hundred day moving average of $8.94.

Passage Bio (NASDAQ:PASG) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($2.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.76) by $0.40. Equities research analysts predict that Passage Bio will post -8.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Eversept Partners LP lifted its holdings in Passage Bio by 4.2% in the 1st quarter. Eversept Partners LP now owns 131,581 shares of the company’s stock valued at $1,033,000 after acquiring an additional 5,351 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Passage Bio by 22.5% in the 1st quarter. Renaissance Technologies LLC now owns 133,612 shares of the company’s stock worth $1,049,000 after purchasing an additional 24,523 shares during the last quarter. Yiheng Capital Management L.P. acquired a new position in shares of Passage Bio in the 4th quarter worth approximately $405,000. Quadrature Capital Ltd bought a new stake in shares of Passage Bio in the 4th quarter worth approximately $148,000. Finally, Geode Capital Management LLC lifted its stake in 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 last quarter. Institutional investors own 53.48% of the company’s stock.

Passage Bio Company Profile

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.