Passage Bio, Inc. (NASDAQ:PASG) Stock Has Consensus Target Price of $13.25

Passage Bio, Inc. (NASDAQ:PASG) has earned a consensus rating of “Hold” from the nine analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $13.25.

A number of brokerages have recently weighed in on PASG. Wall Street Zen downgraded Passage Bio from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings upgraded shares of Passage Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday.

Passage Bio Price Performance

Shares of NASDAQ:PASG opened at $3.97 on Friday. Passage Bio has a 1 year low of $3.29 and a 1 year high of $20.00. The business has a fifty day moving average price of $4.17 and a two-hundred day moving average price of $6.09. The company has a market capitalization of $12.78 million, a PE ratio of -0.35 and a beta of 1.51.

Passage Bio (NASDAQ:PASG) last posted its earnings results on Monday, August 10th. The company reported ($2.44) EPS for the quarter, hitting analysts’ consensus estimates of ($2.44). Sell-side analysts anticipate that Passage Bio will post -9.78 earnings per share for the current year.

Institutional Investors Weigh In On Passage Bio

A hedge fund recently raised its stake in Passage Bio stock. Renaissance Technologies LLC lifted its position in shares of Passage Bio, Inc. (NASDAQ:PASG) by 22.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 133,612 shares of the company’s stock after buying an additional 24,523 shares during the quarter. Renaissance Technologies LLC owned approximately 4.16% of Passage Bio worth $1,049,000 at the end of the most recent quarter. 53.48% of the stock is currently owned by institutional investors and hedge funds.

Passage Bio Company Profile

Passage Bio, Inc is a clinical-stage biotechnology company focused on developing gene therapies for diseases of the central nervous system. The company uses adeno-associated virus (AAV) delivery technologies to develop treatments intended to address the underlying genetic causes of severe neurological and neurodegenerative disorders.

Its research programs have included PBGM01, an investigational gene therapy for GM1 gangliosidosis, a rare inherited disorder caused by mutations affecting the GLB1 gene.