Passage Bio, Inc. (NASDAQ:PASG) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Passage Bio, Inc. (NASDAQ:PASG) have been given an average rating of “Moderate Buy” by the four research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $42.6667.

PASG has been the topic of a number of recent analyst reports. Chardan Capital increased their target price on shares of Passage Bio to $21.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Wall Street Zen upgraded shares of Passage Bio to a “hold” rating in a research note on Friday, September 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Passage Bio in a research note on Monday.

Passage Bio Trading Down 6.0%

Shares of PASG stock opened at $9.45 on Wednesday. The company has a market cap of $30.05 million, a P/E ratio of -0.66 and a beta of 1.86. The firm has a fifty day moving average price of $8.36 and a 200 day moving average price of $7.69. Passage Bio has a 12 month low of $5.12 and a 12 month high of $20.20.

Passage Bio (NASDAQ:PASG) last released its quarterly earnings data on Monday, November 10th. The company reported ($2.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.64) by $0.20. On average, equities analysts forecast that Passage Bio will post -1.03 EPS for the current year.

Institutional Investors Weigh In On Passage Bio

A hedge fund recently bought a new stake in Passage Bio stock. Squarepoint Ops LLC acquired a new position in shares of Passage Bio, Inc. (NASDAQ:PASG) in the third quarter, according to the company in its most recent filing with the SEC. 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 at the end of the most recent quarter. 53.48% of the stock is owned by institutional investors and hedge funds.

Passage Bio Company Profile

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.