Passage Bio (NASDAQ:PASG) Earns “Sell (E+)” Rating from Weiss Ratings

Passage Bio (NASDAQ:PASG)‘s stock had its “sell (e+)” rating reissued by analysts at Weiss Ratings in a note issued to investors on Saturday,Weiss Ratings reports.

PASG has been the subject of several other reports. Wall Street Zen upgraded shares of Passage Bio to a “hold” rating in a report on Friday, September 5th. Canaccord Genuity Group decreased their target price on shares of Passage Bio from $260.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, August 14th. Finally, Wedbush raised their target price on shares of Passage Bio to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, August 13th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $75.67.

Passage Bio Trading Down 3.9%

Passage Bio stock opened at $7.14 on Friday. Passage Bio has a 1-year low of $5.12 and a 1-year high of $26.60. The firm has a 50-day moving average of $7.62 and a 200-day moving average of $7.29. The firm has a market cap of $22.71 million, a P/E ratio of -0.39 and a beta of 1.81.

Passage Bio (NASDAQ:PASG) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($2.96) EPS for the quarter, topping the consensus estimate of ($4.00) by $1.04. Research analysts forecast that Passage Bio will post -1.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Passage Bio

In other news, major shareholder Lynx1 Capital Management Lp purchased 11,900 shares of Passage Bio stock in a transaction that occurred on Monday, September 15th. The stock was bought at an average price of $6.99 per share, with a total value of $83,181.00. Following the completion of the transaction, the insider directly owned 623,704 shares of the company’s stock, valued at approximately $4,359,690.96. The trade was a 1.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased a total of 32,008 shares of company stock worth $223,726 over the last ninety days. 5.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Passage Bio

A hedge fund recently raised its stake in Passage Bio stock. Simplex Trading LLC increased its stake in Passage Bio, Inc. (NASDAQ:PASG) by 9,311.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,346 shares of the company’s stock after purchasing an additional 81,471 shares during the quarter. Simplex Trading LLC owned 0.13% of Passage Bio worth $29,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 53.48% of the company’s stock.

About Passage Bio

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.