Passage Bio, Inc. (NASDAQ:PASG) Short Interest Down 22.5% in January

Passage Bio, Inc. (NASDAQ:PASG) was the target of a significant decline in short interest in January. As of January 15th, there was short interest totaling 15,142 shares, a decline of 22.5% from the December 31st total of 19,538 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average trading volume of 129,577 shares, the short-interest ratio is presently 0.1 days. Based on an average trading volume of 129,577 shares, the short-interest ratio is presently 0.1 days. Approximately 0.5% of the company’s shares are sold short.

Passage Bio Stock Up 7.2%

NASDAQ:PASG traded up $0.77 on Friday, hitting $11.50. The stock had a trading volume of 46,616 shares, compared to its average volume of 91,469. The stock has a market cap of $36.57 million, a price-to-earnings ratio of -0.80 and a beta of 1.72. The business’s 50-day simple moving average is $11.67 and its two-hundred day simple moving average is $8.81. Passage Bio has a 52-week low of $5.12 and a 52-week high of $20.00.

Passage Bio (NASDAQ:PASG) last issued its quarterly earnings data on Monday, November 10th. The company reported ($2.44) earnings per share for the quarter, topping the consensus estimate of ($2.64) by $0.20. As a group, equities research analysts anticipate that Passage Bio will post -1.03 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Passage Bio in a research report on Monday, December 29th. Chardan Capital raised their price target on shares of Passage Bio to $21.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. 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 stock has an average rating of “Moderate Buy” and a consensus target price of $42.67.

Insider Buying and Selling at Passage Bio

In related news, CEO William Chou sold 4,076 shares of the business’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $18.44, for a total transaction of $75,161.44. Following the transaction, the chief executive officer owned 6,524 shares in the company, valued at $120,302.56. The trade was a 38.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Passage Bio

An institutional investor recently bought a new stake in Passage Bio stock. Squarepoint Ops LLC bought a new position in Passage Bio, Inc. (NASDAQ:PASG) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 23,500 shares of the company’s stock, valued at approximately $188,000. Squarepoint Ops LLC owned 0.74% of Passage Bio as of its most recent filing with the SEC. 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.