Short Interest in Passage Bio, Inc. (NASDAQ:PASG) Increases By 25.4%

Passage Bio, Inc. (NASDAQ:PASG) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 19,538 shares, an increase 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 currently 0.5 days. Approximately 0.6% of the company’s shares are sold short. Approximately 0.6% of the company’s shares are sold short. Based on an average trading volume of 40,387 shares, the days-to-cover ratio is currently 0.5 days.

Passage Bio Stock Down 9.9%

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

Passage Bio (NASDAQ:PASG) last announced its earnings results on Monday, November 10th. The company reported ($2.44) EPS for the quarter, beating the consensus estimate of ($2.64) by $0.20. Analysts anticipate that Passage Bio will post -1.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PASG shares. Chardan Capital raised their target price on Passage Bio to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Passage Bio in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.67.

Insider Activity

In other news, CEO William Chou sold 4,076 shares of the firm’s stock in a transaction on Thursday, January 8th. The shares were 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 owned 6,524 shares of the company’s stock, valued at approximately $120,302.56. This trade represents a 38.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Passage Bio stock. Squarepoint Ops LLC acquired a new position in shares of Passage Bio, Inc. (NASDAQ:PASG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 23,500 shares of the company’s stock, valued at approximately $188,000. Squarepoint Ops LLC owned approximately 0.74% of Passage Bio at the end of the most recent reporting period. 53.48% of the stock is currently owned by hedge funds and other institutional investors.

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.