Passage Bio’s (PASG) Hold Rating Reaffirmed at TD Cowen

TD Cowen reissued their hold rating on shares of Passage Bio (NASDAQ:PASG) in a research report sent to investors on Tuesday morning, Marketbeat.com reports.

PASG has been the subject of several other reports. Wall Street Zen lowered Passage Bio from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Lucid Cap Mkts lowered Passage Bio from a “strong-buy” rating to a “hold” rating in a report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Passage Bio in a report on Friday, March 27th. Oppenheimer started coverage on Passage Bio in a report on Tuesday, March 31st. They set an “outperform” rating and a $30.00 price objective for the company. Finally, Wedbush reiterated a “neutral” rating and set a $8.00 price objective (down from $32.00) on shares of Passage Bio in a report on Tuesday. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Passage Bio presently has a consensus rating of “Hold” and an average price target of $13.25.

Passage Bio Stock Down 1.1%

PASG opened at $6.18 on Tuesday. Passage Bio has a 12-month low of $5.12 and a 12-month high of $20.00. The stock has a fifty day moving average of $8.49 and a 200-day moving average of $9.53. The firm has a market capitalization of $19.84 million, a P/E ratio of -0.43 and a beta of 1.77.

Passage Bio (NASDAQ:PASG) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported ($4.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.19) by ($1.89). On average, analysts expect that Passage Bio will post -8.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Passage Bio

Several hedge funds have recently bought and sold shares of PASG. Nano Cap New Millennium Growth Fund L P acquired a new position in Passage Bio during the fourth quarter worth $118,000. Quadrature Capital Ltd acquired a new stake in shares of Passage Bio in the fourth quarter valued at about $148,000. Squarepoint Ops LLC acquired a new stake in shares of Passage Bio in the third quarter valued at about $188,000. Geode Capital Management LLC grew its position in shares of Passage Bio by 15.1% in the fourth quarter. Geode Capital Management LLC now owns 31,397 shares of the company’s stock valued at $371,000 after purchasing an additional 4,114 shares during the last quarter. Finally, Yiheng Capital Management L.P. acquired a new stake in shares of Passage Bio in the fourth quarter valued at about $405,000. 53.48% of the stock is owned by institutional investors and hedge funds.

Passage Bio Company Profile

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.