Passage Bio, Inc. (NASDAQ:PASG) Short Interest Up 718.3% in February

Passage Bio, Inc. (NASDAQ:PASG) was the recipient of a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 91,808 shares, a growth of 718.3% from the January 29th total of 11,220 shares. Approximately 3.0% of the shares of the stock are sold short. Based on an average daily volume of 49,731 shares, the short-interest ratio is presently 1.8 days. Based on an average daily volume of 49,731 shares, the short-interest ratio is presently 1.8 days. Approximately 3.0% of the shares of the stock are sold short.

Passage Bio Trading Up 0.4%

Shares of PASG traded up $0.04 during midday trading on Wednesday, hitting $9.32. The stock had a trading volume of 27,197 shares, compared to its average volume of 37,932. The business has a 50-day simple moving average of $11.69 and a two-hundred day simple moving average of $9.22. The firm has a market cap of $29.64 million, a P/E ratio of -0.65 and a beta of 1.72. Passage Bio has a fifty-two week low of $5.12 and a fifty-two week high of $20.00.

Insider Transactions at Passage Bio

In other Passage Bio 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 transaction of $75,161.44. Following the completion of the transaction, the chief executive officer directly owned 6,524 shares of the company’s stock, valued at approximately $120,302.56. This trade represents a 38.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.00% of the company’s stock.

Institutional Trading of Passage Bio

Several hedge funds and other institutional investors have recently modified their holdings of PASG. Geode Capital Management LLC raised its stake in shares of Passage Bio by 15.1% during the 4th quarter. Geode Capital Management LLC now owns 31,397 shares of the company’s stock worth $371,000 after purchasing an additional 4,114 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Passage Bio by 8.2% in the fourth quarter. Renaissance Technologies LLC now owns 109,089 shares of the company’s stock valued at $1,287,000 after acquiring an additional 8,300 shares during the last quarter. Nano Cap New Millennium Growth Fund L P bought a new stake in Passage Bio in the fourth quarter worth approximately $118,000. Quadrature Capital Ltd acquired a new position in shares of Passage Bio during the 4th quarter worth $148,000. Finally, Squarepoint Ops LLC bought a new position in shares of Passage Bio during the 3rd quarter valued at $188,000. Institutional investors and hedge funds own 53.48% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PASG. Weiss Ratings restated a “sell (d-)” rating on shares of Passage Bio in a report on Monday, December 29th. Chardan Capital initiated coverage on shares of Passage Bio in a report on Tuesday, February 10th. They issued a “buy” rating and a $21.00 price target for the company. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.67.

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.