Passage Bio, Inc. (NASDAQ:PASG) Stock Has Consensus Price Target of $13.25 According to Brokerages

Shares of Passage Bio, Inc. (NASDAQ:PASG) have earned an average recommendation of “Hold” from the nine brokerages that are covering the stock, Marketbeat.com reports. One investment 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 1-year price objective among analysts that have covered the stock in the last year is $13.25.

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

Hedge Funds Weigh In On Passage Bio

Large investors have recently bought and sold shares of the business. Renaissance Technologies LLC grew its holdings in Passage Bio by 22.5% in the first quarter. Renaissance Technologies LLC now owns 133,612 shares of the company’s stock valued at $1,049,000 after purchasing an additional 24,523 shares during the period. Eversept Partners LP raised its stake in shares of Passage Bio by 4.2% during the 1st quarter. Eversept Partners LP now owns 131,581 shares of the company’s stock worth $1,033,000 after buying an additional 5,351 shares during the period. Finally, Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Passage Bio during the 4th quarter worth approximately $118,000. Institutional investors and hedge funds own 53.48% of the company’s stock.

Passage Bio Stock Down 4.0%

Shares of NASDAQ PASG opened at $4.80 on Friday. Passage Bio has a 52 week low of $3.29 and a 52 week high of $20.00. The business’s 50 day moving average price is $4.67 and its 200 day moving average price is $5.73. The firm has a market cap of $15.46 million, a P/E ratio of -0.42 and a beta of 1.43.

Passage Bio (NASDAQ:PASG) last posted its quarterly earnings results on Monday, August 10th. The company reported ($2.44) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($2.44). As a group, research analysts expect that Passage Bio will post -9.19 earnings per share for the current year.

Passage Bio Company Profile

Passage Bio, Inc is a clinical-stage biotechnology company focused on developing genetic medicines for severe diseases of the central nervous system. The company uses adeno-associated virus (AAV) gene therapy platforms to deliver functional genes to target cells, with the goal of addressing the underlying causes of inherited neurological disorders.

Passage Bio’s development programs have included investigational therapies for conditions such as GM1 gangliosidosis, Krabbe disease and frontotemporal dementia.