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

Passage Bio, Inc. (NASDAQ:PASG) has been given an average rating of “Hold” by the nine ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $13.25.

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

Institutional Investors Weigh In On Passage Bio

A hedge fund recently raised its stake in Passage Bio stock. Eversept Partners LP raised its position in Passage Bio, Inc. (NASDAQ:PASG) by 4.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 131,581 shares of the company’s stock after buying an additional 5,351 shares during the period. Eversept Partners LP owned about 4.10% of Passage Bio worth $1,033,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 53.48% of the company’s stock.

Passage Bio Stock Performance

NASDAQ:PASG opened at $3.97 on Friday. The stock’s fifty day moving average is $4.17 and its 200 day moving average is $6.09. Passage Bio has a fifty-two week low of $3.29 and a fifty-two week high of $20.00. The firm has a market capitalization of $12.78 million, a PE ratio of -0.35 and a beta of 1.51.

Passage Bio (NASDAQ:PASG) last released its quarterly earnings data on Monday, August 10th. The company reported ($2.44) earnings per share for the quarter, hitting analysts’ consensus estimates of ($2.44). Equities analysts forecast that Passage Bio will post -9.78 EPS for the current year.

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.