Passage Bio (NASDAQ:PASG – Get Rating) had its price objective cut by stock analysts at Raymond James from $29.00 to $24.00 in a report released on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock.
Several other research analysts also recently commented on the stock. The Goldman Sachs Group downgraded shares of Passage Bio from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $29.00 to $6.00 in a research report on Wednesday, January 19th. Zacks Investment Research downgraded shares of Passage Bio from a “buy” rating to a “hold” rating in a report on Tuesday, January 11th. Finally, BTIG Research reduced their price objective on shares of Passage Bio from $25.00 to $16.00 in a research note on Tuesday, January 18th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $19.65.
Shares of PASG stock opened at $3.05 on Friday. Passage Bio has a 1 year low of $3.02 and a 1 year high of $22.12. The stock has a market cap of $165.03 million, a P/E ratio of -0.90 and a beta of 1.53. The stock has a 50 day simple moving average of $4.86 and a 200 day simple moving average of $7.78.
Passage Bio (NASDAQ:PASG – Get Rating) last announced its quarterly earnings data on Thursday, March 3rd. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.11). During the same quarter last year, the business posted ($0.85) EPS. On average, equities research analysts predict that Passage Bio will post -3.31 earnings per share for the current fiscal year.
In related news, major shareholder Orbimed Advisors Llc acquired 41,800 shares of the business’s stock in a transaction dated Thursday, January 13th. The shares were bought at an average price of $5.52 per share, with a total value of $230,736.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have acquired 533,800 shares of company stock worth $2,902,866 in the last ninety days. Insiders own 25.50% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Royal Bank of Canada increased its stake in shares of Passage Bio by 39.7% during the 2nd quarter. Royal Bank of Canada now owns 3,659 shares of the company’s stock worth $49,000 after purchasing an additional 1,039 shares during the last quarter. Denali Advisors LLC bought a new position in Passage Bio in the 4th quarter valued at $56,000. Ensign Peak Advisors Inc bought a new position in Passage Bio in the 4th quarter valued at $84,000. Wells Fargo & Company MN boosted its holdings in Passage Bio by 2,584.2% in the 4th quarter. Wells Fargo & Company MN now owns 16,454 shares of the company’s stock valued at $105,000 after purchasing an additional 15,841 shares during the period. Finally, Jane Street Group LLC bought a new position in Passage Bio in the 3rd quarter valued at $114,000. Hedge funds and other institutional investors own 77.00% of the company’s stock.
Passage Bio Company Profile
Passage Bio, Inc, a genetic medicines company, develops transformative therapies for rare monogenic central nervous system (CNS) 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 (Ã-gal) for infantile GM1; PBFT02, which utilizes an AAV1 capsid to deliver to the brain a functional granulin, or GRN, gene encoding progranulin, or 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.