Passage Bio’s (PASG) Outperform Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of Passage Bio (NASDAQ:PASG – Get Rating) in a research note released on Monday morning, PriceTargets.com reports.

A number of other analysts have also weighed in on PASG. Canaccord Genuity Group initiated coverage on shares of Passage Bio in a report on Tuesday, November 8th. They set a buy rating and a $8.00 target price for the company. Canaccord Genuity Group initiated coverage on shares of Passage Bio in a research note on Monday, November 7th. They set a buy rating on the stock. Guggenheim decreased their price objective on shares of Passage Bio from $13.00 to $11.00 and set a buy rating on the stock in a research report on Friday, November 11th. Chardan Capital dropped their target price on shares of Passage Bio from $18.00 to $11.00 and set a buy rating for the company in a report on Thursday, December 15th. Finally, BTIG Research dropped their target price on shares of Passage Bio to $9.00 in a report on Wednesday, November 16th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of Buy and an average target price of $8.80.

Passage Bio Stock Up 4.0 %

NASDAQ PASG opened at $1.31 on Monday. The company has a 50-day simple moving average of $1.46 and a two-hundred day simple moving average of $1.43. Passage Bio has a 12-month low of $1.04 and a 12-month high of $3.56. The firm has a market cap of $71.46 million, a price-to-earnings ratio of -0.52 and a beta of 1.03.

Passage Bio (NASDAQ:PASG – Get Rating) last posted its quarterly earnings results on Monday, March 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.02). During the same quarter last year, the firm posted ($0.93) EPS. Equities analysts expect that Passage Bio will post -1.92 earnings per share for the current fiscal year.

Institutional Trading of Passage Bio

Hedge funds have recently bought and sold shares of the stock. Lynx1 Capital Management LP lifted its stake in Passage Bio by 553.1% in the 3rd quarter. Lynx1 Capital Management LP now owns 2,752,422 shares of the company’s stock worth $3,441,000 after purchasing an additional 2,331,012 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Passage Bio by 117.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 87,832 shares of the company’s stock valued at $110,000 after buying an additional 47,511 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Passage Bio by 269.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 86,515 shares of the company’s stock valued at $204,000 after buying an additional 63,115 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Passage Bio by 89.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 41,625 shares of the company’s stock valued at $52,000 after buying an additional 19,706 shares in the last quarter. Finally, Prelude Capital Management LLC purchased a new stake in shares of Passage Bio during the 1st quarter valued at about $45,000. Hedge funds and other institutional investors own 76.99% of the company’s stock.

Passage Bio Company Profile

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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.