Passage Bio (NASDAQ:PASG) Stock Price Down 5.5%

Passage Bio, Inc. (NASDAQ:PASG)’s share price fell 5.5% during mid-day trading on Thursday . The stock traded as low as $1.14 and last traded at $1.20. 122,362 shares were traded during trading, a decline of 67% from the average session volume of 370,199 shares. The stock had previously closed at $1.27.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group restated a “buy” rating and issued a $14.00 price objective on shares of Passage Bio in a report on Tuesday, March 5th.

Passage Bio Trading Down 4.2 %

The company has a fifty day simple moving average of $1.37 and a two-hundred day simple moving average of $0.99.

Passage Bio (NASDAQ:PASG) last announced its earnings results on Monday, March 4th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.11. On average, equities research analysts anticipate that Passage Bio, Inc. will post -1.27 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PASG. JPMorgan Chase & Co. increased its stake in shares of Passage Bio by 31.0% in the first quarter. JPMorgan Chase & Co. now owns 777,538 shares of the company’s stock worth $2,410,000 after purchasing an additional 184,079 shares during the period. HighTower Advisors LLC increased its position in Passage Bio by 44.0% in the 1st quarter. HighTower Advisors LLC now owns 40,577 shares of the company’s stock worth $120,000 after buying an additional 12,407 shares during the period. Bank of Montreal Can acquired a new position in shares of Passage Bio during the first quarter worth approximately $206,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Passage Bio in the first quarter worth $1,104,000. Finally, Acadian Asset Management LLC bought a new position in Passage Bio during the first quarter worth $496,000. Institutional investors own 53.48% of the company’s stock.

About Passage Bio

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.