Passage Bio, Inc. (NASDAQ:PASG) Sees Significant Increase in Short Interest

Passage Bio, Inc. (NASDAQ:PASG) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 19,538 shares, a growth of 25.4% from the December 15th total of 15,577 shares. Based on an average trading volume of 40,387 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.6% of the shares of the stock are sold short. Approximately 0.6% of the shares of the stock are sold short. Based on an average trading volume of 40,387 shares, the days-to-cover ratio is presently 0.5 days.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Passage Bio in a research note on Monday, December 29th. Chardan Capital boosted their price target on shares of Passage Bio to $21.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.67.

Passage Bio Stock Performance

Shares of NASDAQ PASG traded down $1.41 during mid-day trading on Monday, reaching $12.87. 40,317 shares of the company’s stock were exchanged, compared to its average volume of 81,180. The company’s 50-day moving average is $10.86 and its 200-day moving average is $8.51. The firm has a market capitalization of $40.93 million, a price-to-earnings ratio of -0.89 and a beta of 1.76. Passage Bio has a 52-week low of $5.12 and a 52-week high of $20.00.

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

Insider Buying and Selling at Passage Bio

In other news, CEO William Chou sold 4,076 shares of Passage Bio stock in a transaction that occurred 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 directly owned 6,524 shares of the company’s stock, valued at $120,302.56. The trade was a 38.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.00% of the stock is currently owned by company insiders.

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 position in Passage Bio, Inc. (NASDAQ:PASG) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 SEC filing. 53.48% of the stock is owned by institutional investors and hedge funds.

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.