Passage Bio, Inc. (NASDAQ:PASG) Short Interest Update

Passage Bio, Inc. (NASDAQ:PASG) was the target of a large increase in short interest in April. As of April 30th, there was short interest totaling 145,029 shares, an increase of 113.0% from the April 15th total of 68,090 shares. Currently, 4.8% of the company’s stock are short sold. Based on an average trading volume of 206,812 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Investors Weigh In On Passage Bio

Institutional investors have recently added to or reduced their stakes in the business. Eversept Partners LP acquired a new position in shares of Passage Bio during the 4th quarter worth $1,490,000. Yiheng Capital Management L.P. purchased a new stake in shares of Passage Bio in the fourth quarter valued at $405,000. Renaissance Technologies LLC lifted its holdings in Passage Bio by 22.5% in the 1st 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 in the last quarter. Squarepoint Ops LLC acquired a new position in Passage Bio in the 3rd quarter valued at $188,000. Finally, Quadrature Capital Ltd purchased a new position in Passage Bio during the fourth quarter worth about $148,000. Hedge funds and other institutional investors own 53.48% of the company’s stock.

Wall Street Analyst Weigh In

PASG has been the topic of several research analyst reports. Wedbush reissued a “neutral” rating and set a $8.00 target price (down from $32.00) on shares of Passage Bio in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of Passage Bio from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 3rd. Lucid Cap Mkts downgraded shares of Passage Bio from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Passage Bio in a report on Friday, March 27th. Finally, Chardan Capital set a $7.00 target price on shares of Passage Bio and gave the company a “neutral” rating in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $13.25.

Passage Bio Price Performance

PASG stock opened at $5.22 on Friday. The company has a market cap of $16.76 million, a price-to-earnings ratio of -0.44 and a beta of 1.38. The company has a fifty day moving average price of $7.31 and a 200 day moving average price of $9.18. Passage Bio has a 12 month low of $3.93 and a 12 month high of $20.00.

Passage Bio (NASDAQ:PASG) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($2.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.76) by $0.40. As a group, analysts anticipate that Passage Bio will post -8.62 earnings per share for the current year.

About Passage Bio

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.