Passage Bio, Inc. (NASDAQ:PASG) Given Average Recommendation of “Moderate Buy” by Brokerages

Passage Bio, Inc. (NASDAQ:PASG) has received a consensus rating of “Moderate Buy” from the four research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $42.6667.

A number of research firms have issued reports on PASG. Chardan Capital raised their target price on Passage Bio to $21.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Passage Bio in a research report on Monday, December 29th.

Passage Bio Stock Down 3.8%

Shares of PASG stock opened at $10.57 on Thursday. The business has a 50 day moving average of $11.81 and a two-hundred day moving average of $8.91. Passage Bio has a 52 week low of $5.12 and a 52 week high of $20.00. The company has a market cap of $33.61 million, a P/E ratio of -0.73 and a beta of 1.72.

Passage Bio (NASDAQ:PASG) last announced its quarterly earnings results on Monday, November 10th. The company reported ($2.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.64) by $0.20. Analysts expect that Passage Bio will post -1.03 EPS for the current fiscal year.

Insider Buying and Selling at Passage Bio

In related news, CEO William Chou sold 4,076 shares of the firm’s 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 in the company, valued at $120,302.56. This trade represents a 38.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Passage Bio stock. Squarepoint Ops LLC acquired a new stake in shares of Passage Bio, Inc. (NASDAQ:PASG) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 23,500 shares of the company’s stock, valued at approximately $188,000. Squarepoint Ops LLC owned approximately 0.74% of Passage Bio as of its most recent SEC filing. Institutional investors own 53.48% of the company’s stock.

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.