Eversept Partners LP Purchases Shares of 126,230 Passage Bio, Inc. $PASG

Eversept Partners LP purchased a new stake in Passage Bio, Inc. (NASDAQ:PASG) in the fourth quarter, HoldingsChannel reports. The fund purchased 126,230 shares of the company’s stock, valued at approximately $1,490,000.

Other hedge funds have also recently bought and sold shares of the company. Nano Cap New Millennium Growth Fund L P bought a new stake in Passage Bio in the 4th quarter valued at $118,000. Squarepoint Ops LLC bought a new stake in Passage Bio in the 3rd quarter valued at $188,000. Geode Capital Management LLC raised its stake in shares of Passage Bio by 15.1% in the fourth quarter. Geode Capital Management LLC now owns 31,397 shares of the company’s stock valued at $371,000 after purchasing an additional 4,114 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of 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 purchasing an additional 8,300 shares in the last quarter. 53.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Passage Bio in a research note on Friday, March 27th. Canaccord Genuity Group cut their target price on Passage Bio from $67.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. TD Cowen cut shares of Passage Bio from a “buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Wall Street Zen raised shares of Passage Bio from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 3rd. Finally, UBS Group lowered Passage Bio to a “neutral” rating in a research note on Wednesday, June 10th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $13.25.

Passage Bio Stock Down 3.1%

NASDAQ:PASG opened at $5.33 on Thursday. The firm has a market cap of $17.11 million, a PE ratio of -0.45 and a beta of 1.41. Passage Bio, Inc. has a 12 month low of $3.93 and a 12 month high of $20.00. The company’s 50-day moving average price is $6.34 and its two-hundred day moving average price is $8.81.

Passage Bio (NASDAQ:PASG) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($2.36) EPS for the quarter, topping analysts’ consensus estimates of ($2.76) by $0.40. On average, research analysts expect that Passage Bio, Inc. will post -8.62 EPS for the current fiscal year.

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.