Passage Bio, Inc. (NASDAQ:PASG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Passage Bio, Inc. (NASDAQ:PASG) have been assigned an average rating of “Moderate Buy” from the four ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $42.6667.

PASG has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Passage Bio in a research report on Monday, December 29th. Chardan Capital lifted their price target on shares of Passage Bio to $21.00 and gave the company a “buy” rating in a report on Wednesday, November 12th.

Passage Bio Price Performance

Shares of PASG opened at $12.87 on Friday. The firm has a 50 day simple moving average of $10.86 and a two-hundred day simple moving average of $8.50. Passage Bio has a one year low of $5.12 and a one year high of $20.00. The company has a market cap of $40.91 million, a P/E ratio of -0.89 and a beta of 1.76.

Passage Bio (NASDAQ:PASG) last issued its quarterly earnings results 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. On average, analysts expect that Passage Bio will post -1.03 earnings per share for the current fiscal year.

Insider Activity at Passage Bio

In other 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 completion of the transaction, the chief executive officer directly owned 6,524 shares in the company, valued at approximately $120,302.56. This represents a 38.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Passage Bio

A hedge fund recently bought a new stake in Passage Bio stock. Squarepoint Ops LLC purchased a new stake in shares of Passage Bio, Inc. (NASDAQ:PASG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 23,500 shares of the company’s stock, valued at approximately $188,000. Squarepoint Ops LLC owned about 0.74% of Passage Bio as of its most recent filing with the Securities & Exchange Commission. 53.48% of the stock is owned by institutional investors and hedge funds.

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.