Passage Bio, Inc. (PASG) – What Are Investment Firms Thinking About This Stock?

Shares of Passage Bio, Inc. (NASDAQ:PASG) have earned an average rating of “Hold” from the nine brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $13.25.

A number of equities research analysts recently commented on the company. Weiss Ratings upgraded Passage Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, November 2nd. Wall Street Zen lowered shares of Passage Bio from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th.

Passage Bio Stock Performance

Shares of PASG opened at $4.00 on Friday. The stock has a 50-day moving average of $4.13 and a two-hundred day moving average of $5.96. Passage Bio has a one year low of $3.29 and a one year high of $20.00. The stock has a market cap of $12.88 million, a P/E ratio of -0.39 and a beta of 1.51.

Passage Bio (NASDAQ:PASG) last announced its quarterly earnings data on Tuesday, November 10th. The company reported ($1.47) earnings per share for the quarter, meeting analysts’ consensus estimates of ($1.47). Analysts predict that Passage Bio will post -9.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Passage Bio stock. Renaissance Technologies LLC boosted its stake in shares of Passage Bio, Inc. (NASDAQ:PASG) by 22.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 133,612 shares of the company’s stock after purchasing an additional 24,523 shares during the period. Renaissance Technologies LLC owned approximately 4.16% of Passage Bio worth $1,049,000 at the end of the most recent quarter. 53.48% of the stock is owned by hedge funds and other institutional investors.

About Passage Bio

Passage Bio, Inc. is a clinical-stage biotechnology company focused on developing gene therapies for diseases of the central nervous system. The company uses adeno-associated virus (AAV) delivery technologies to develop treatments intended to address the underlying genetic causes of severe neurological and neurodegenerative disorders. Its research programs have included PBGM01, an investigational gene therapy for GM1 gangliosidosis, a rare inherited disorder caused by mutations affecting the GLB1 gene.