Passage Bio, Inc. (NASDAQ:PASG) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Passage Bio, Inc. (NASDAQ:PASG) have earned an average recommendation of “Moderate Buy” from the four analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and three have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $42.6667.

A number of brokerages recently commented on PASG. Chardan Capital began coverage on shares of Passage Bio in a research note on Tuesday. They set a “buy” rating and a $21.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Passage Bio in a research report on Monday, December 29th.

Passage Bio Stock Performance

Shares of PASG opened at $8.76 on Thursday. Passage Bio has a fifty-two week low of $5.12 and a fifty-two week high of $20.00. The business has a 50-day moving average of $11.87 and a 200 day moving average of $9.02. The firm has a market cap of $27.86 million, a P/E ratio of -0.61 and a beta of 1.72.

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

Insider Transactions at Passage Bio

In related news, CEO William Chou sold 4,076 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $18.44, for a total value of $75,161.44. Following the sale, the chief executive officer owned 6,524 shares in the company, valued at approximately $120,302.56. This trade represents a 38.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PASG. Geode Capital Management LLC increased its holdings in shares of Passage Bio by 15.1% in the fourth quarter. Geode Capital Management LLC now owns 31,397 shares of the company’s stock worth $371,000 after buying an additional 4,114 shares during the period. Nano Cap New Millennium Growth Fund L P purchased a new position in Passage Bio in the 4th quarter worth approximately $118,000. Finally, Squarepoint Ops LLC bought a new stake in Passage Bio in the third quarter valued at approximately $188,000. 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.