Passage Bio (NASDAQ:PASG) Shares Down 5.5%

Passage Bio, Inc. (NASDAQ:PASG) was down 5.5% during trading on Thursday . The company traded as low as $1.14 and last traded at $1.20. Approximately 122,362 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 370,199 shares. The stock had previously closed at $1.27.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $14.00 target price on shares of Passage Bio in a research report on Tuesday, March 5th.

Passage Bio Price Performance

The firm has a market cap of $73.93 million, a P/E ratio of -0.65 and a beta of 1.30. The stock’s 50 day moving average is $1.37 and its two-hundred day moving average is $0.98.

Institutional Trading of Passage Bio

Several institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC lifted its holdings in shares of Passage Bio by 4.5% during the third quarter. Acadian Asset Management LLC now owns 604,678 shares of the company’s stock valued at $396,000 after acquiring an additional 25,872 shares during the period. HighTower Advisors LLC increased its position in shares of Passage Bio by 44.0% during the 1st quarter. HighTower Advisors LLC now owns 40,577 shares of the company’s stock worth $120,000 after purchasing an additional 12,407 shares in the last quarter. Northern Trust Corp lifted its holdings in Passage Bio by 44.8% during the 4th quarter. Northern Trust Corp now owns 76,885 shares of the company’s stock valued at $78,000 after purchasing an additional 23,772 shares during the last quarter. PDT Partners LLC grew its stake in Passage Bio by 87.4% during the first quarter. PDT Partners LLC now owns 24,513 shares of the company’s stock worth $76,000 after buying an additional 11,434 shares during the last quarter. Finally, Annandale Capital LLC increased its holdings in shares of Passage Bio by 35.8% during the fourth quarter. Annandale Capital LLC now owns 54,338 shares of the company’s stock worth $75,000 after buying an additional 14,338 shares in the last quarter. Institutional investors and hedge funds own 53.48% of the company’s stock.

Passage Bio Company Profile

Passage Bio, Inc, a genetic medicines company, develops gene therapies for central nervous system diseases. It develops PBGM01, a functional GLB1 gene encoding ß-galactosidase for infantile GM1; PBFT02, a functional granulin (GRN) and gene encoding progranulin (PGRN) for the treatment of FTD caused by progranulin deficiency; and PBKR03, a functional GALC gene encoding the hydrolytic enzyme galactosylceramidase for infantile Krabbe disease.