Analysts Set Passage Bio, Inc. (NASDAQ:PASG) PT at $17.00

Shares of Passage Bio, Inc. (NASDAQ:PASG) have received an average recommendation of “Hold” from the seven research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $13.25.

A number of analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Passage Bio in a research note on Friday, March 27th. Oppenheimer reduced their price target on shares of Passage Bio from $30.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday. TD Cowen lowered shares of Passage Bio from a “buy” rating to a “hold” rating in a research note on Tuesday. Chardan Capital set a $7.00 price target on shares of Passage Bio and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Lucid Cap Mkts lowered shares of Passage Bio from a “strong-buy” rating to a “hold” rating in a research note on Monday.

Institutional Trading of Passage Bio

A number of institutional investors have recently made changes to their positions in the stock. Eversept Partners LP acquired a new stake in shares of Passage Bio in the 4th quarter worth approximately $1,490,000. Renaissance Technologies LLC lifted its stake in shares of Passage Bio by 8.2% in the 4th quarter. Renaissance Technologies LLC now owns 109,089 shares of the company’s stock worth $1,287,000 after acquiring an additional 8,300 shares during the period. Yiheng Capital Management L.P. acquired a new stake in Passage Bio during the fourth quarter valued at approximately $405,000. Geode Capital Management LLC lifted its stake in Passage Bio by 15.1% during 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, Squarepoint Ops LLC acquired a new stake in Passage Bio during the third quarter valued at approximately $188,000. 53.48% of the stock is owned by institutional investors and hedge funds.

Passage Bio Trading Down 3.8%

NASDAQ PASG opened at $5.90 on Tuesday. Passage Bio has a 52 week low of $5.12 and a 52 week high of $20.00. The stock has a market cap of $18.94 million, a price-to-earnings ratio of -0.41 and a beta of 1.77. The company has a 50-day moving average price of $8.38 and a two-hundred day moving average price of $9.48.

Passage Bio (NASDAQ:PASG) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported ($4.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.19) by ($1.89). As a group, equities research analysts expect that Passage Bio will post -9.82 earnings per share for the current fiscal year.

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.