Passage Bio, Inc. (PASG) – What Are Investment Firms Saying About This Stock?

Shares of Passage Bio, Inc. (NASDAQ:PASG) have received an average rating of “Hold” from the nine brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $13.25.

A number of research analysts have recently issued reports on the company. Wall Street Zen cut 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 report on Thursday, August 6th.

Institutional Trading of Passage Bio

A hedge fund recently bought a new stake in Passage Bio stock. Eversept Partners LP bought a new position in shares of Passage Bio, Inc. (NASDAQ:PASG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 126,230 shares of the company’s stock, valued at approximately $1,490,000. Eversept Partners LP owned 3.97% of Passage Bio as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 53.48% of the company’s stock.

Passage Bio Price Performance

Shares of NASDAQ:PASG opened at $3.58 on Tuesday. The firm has a market capitalization of $11.53 million, a price-to-earnings ratio of -0.32 and a beta of 1.40. Passage Bio has a one year low of $3.29 and a one year high of $20.00. The company’s fifty day moving average price is $4.47 and its 200-day moving average price is $5.32.

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

Passage Bio Company Profile

Passage Bio, Inc is a clinical-stage biotechnology company developing genetic medicines for severe diseases of the central nervous system. The company focuses on conditions with significant unmet medical needs and uses adeno-associated virus (AAV) gene-delivery technologies to develop potential one-time treatments intended to address the underlying causes of disease.

Its research and development programs have included investigational therapies for rare neurological and neurodegenerative disorders, including GM1 gangliosidosis, Krabbe disease and frontotemporal dementia associated with progranulin gene mutations.