Brokerages Set Passage Bio, Inc. (NASDAQ:PASG) Target Price at $42.67

Passage Bio, Inc. (NASDAQ:PASG) has been assigned an average rating of “Moderate Buy” from the four brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $42.6667.

Several research analysts have issued reports on PASG shares. Chardan Capital lifted their price target on shares of Passage Bio to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Passage Bio in a research note on Monday, December 29th.

Insider Buying and Selling at Passage Bio

In related news, CEO William Chou sold 4,076 shares of Passage Bio stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $18.44, for a total value of $75,161.44. Following the transaction, the chief executive officer owned 6,524 shares of the company’s stock, valued at approximately $120,302.56. This trade represents a 38.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Passage Bio stock. Nano Cap New Millennium Growth Fund L P purchased a new stake in shares of Passage Bio, Inc. (NASDAQ:PASG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,000 shares of the company’s stock, valued at approximately $118,000. Nano Cap New Millennium Growth Fund L P owned 0.31% of Passage Bio at the end of the most recent reporting period. Institutional investors and hedge funds own 53.48% of the company’s stock.

Passage Bio Price Performance

Passage Bio stock opened at $9.51 on Thursday. Passage Bio has a 12 month low of $5.12 and a 12 month high of $20.00. The company has a market cap of $30.24 million, a price-to-earnings ratio of -0.66 and a beta of 1.72. The stock’s 50-day moving average is $11.82 and its 200-day moving average is $8.96.

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

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.