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

Passage Bio, Inc. (NASDAQ:PASG) has been assigned a consensus rating of “Moderate Buy” from the four analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating and three have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $42.6667.

PASG has been the topic of a number of recent analyst reports. Wedbush increased their price target on Passage Bio to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 13th. Chardan Capital upped their target price on Passage Bio to $21.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Canaccord Genuity Group reduced their target price on Passage Bio from $260.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, August 14th. Wall Street Zen upgraded Passage Bio to a “hold” rating in a report on Friday, September 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Passage Bio in a research note on Tuesday.

Passage Bio Trading Up 4.0%

Shares of Passage Bio stock traded up $0.30 during mid-day trading on Friday, hitting $7.74. 35,337 shares of the stock were exchanged, compared to its average volume of 43,498. The stock has a market capitalization of $24.61 million, a price-to-earnings ratio of -0.54 and a beta of 1.94. Passage Bio has a twelve month low of $5.12 and a twelve month high of $26.60. The company has a 50-day simple moving average of $7.81 and a 200 day simple moving average of $7.37.

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

Insider Buying and Selling

In related news, major shareholder Lynx1 Capital Management Lp purchased 19,783 shares of the business’s stock in a transaction on Friday, September 12th. The shares were bought at an average price of $6.99 per share, with a total value of $138,283.17. Following the completion of the purchase, the insider directly owned 611,804 shares in the company, valued at approximately $4,276,509.96. This trade represents a 3.34% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have purchased a total of 32,008 shares of company stock worth $223,726 over the last ninety days. Corporate insiders own 5.00% of the company’s stock.

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) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 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.