Passage Bio, Inc. (NASDAQ:PASG) Receives Average Rating of “Buy” from Brokerages

Shares of Passage Bio, Inc. (NASDAQ:PASGGet Rating) have been assigned a consensus recommendation of “Hold” from the seven analysts that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $20.00.

A number of equities analysts recently commented on the company. Zacks Investment Research cut Passage Bio from a “buy” rating to a “hold” rating in a report on Tuesday, January 11th. Wedbush reiterated an “outperform” rating on shares of Passage Bio in a research report on Thursday, March 3rd. BTIG Research lowered their price objective on shares of Passage Bio from $25.00 to $16.00 in a research report on Tuesday, January 18th. The Goldman Sachs Group downgraded shares of Passage Bio from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $29.00 to $6.00 in a research report on Wednesday, January 19th. Finally, Chardan Capital lowered their price target on shares of Passage Bio from $43.00 to $34.00 in a report on Friday, March 11th.

In related news, CEO Bruce A. Goldsmith bought 10,000 shares of Passage Bio stock in a transaction dated Monday, March 21st. The stock was purchased at an average cost of $3.15 per share, with a total value of $31,500.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 25.50% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Denali Advisors LLC purchased a new position in Passage Bio in the 4th quarter worth $56,000. Two Sigma Advisers LP boosted its stake in Passage Bio by 400.0% during the third quarter. Two Sigma Advisers LP now owns 158,500 shares of the company’s stock worth $1,579,000 after acquiring an additional 126,800 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Passage Bio in the third quarter worth about $219,000. SG Americas Securities LLC raised its holdings in Passage Bio by 372.5% in the third quarter. SG Americas Securities LLC now owns 36,828 shares of the company’s stock worth $367,000 after buying an additional 29,034 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Passage Bio by 26.2% in the third quarter. Goldman Sachs Group Inc. now owns 120,270 shares of the company’s stock worth $1,198,000 after buying an additional 24,948 shares during the last quarter. 77.00% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ PASG opened at $2.51 on Friday. Passage Bio has a one year low of $2.48 and a one year high of $19.84. The business’s 50-day moving average price is $3.14 and its two-hundred day moving average price is $5.72.

Passage Bio (NASDAQ:PASGGet Rating) last released its quarterly earnings results on Thursday, March 3rd. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.84) by ($0.11). During the same quarter in the previous year, the business earned ($0.85) earnings per share. On average, equities research analysts anticipate that Passage Bio will post -3.47 EPS for the current fiscal year.

Passage Bio Company Profile (Get Rating)

Passage Bio, Inc, a genetic medicines company, develops transformative therapies for central nervous system diseases. It develops PBGM01, which utilizes a proprietary, AAVhu68 capsid to deliver to the brain and peripheral tissues a functional GLB1 gene encoding lysosomal acid beta-galactosidase for infantile GM1; PBFT02, which utilizes an AAV1 capsid to deliver to the brain a functional granulin (GRN) and gene encoding progranulin (PGRN) for the treatment of FTD-GRN; and PBKR03, which utilizes a proprietary, AAVhu68 capsid to deliver to the brain and peripheral tissues a functional GALC gene encoding the hydrolytic enzyme galactosylceramidase for infantile Krabbe disease.

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Analyst Recommendations for Passage Bio (NASDAQ:PASG)

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