Passage Bio (NASDAQ:PASG) Releases Earnings Results, Beats Expectations By $0.96 EPS

Passage Bio (NASDAQ:PASG) issued its quarterly earnings results on Tuesday. The company reported ($1.47) EPS for the quarter, topping analysts’ consensus estimates of ($2.43) by $0.96, FiscalAI reports.

Passage Bio Stock Up 5.5%

NASDAQ:PASG traded up $0.19 during midday trading on Tuesday, hitting $3.62. The company had a trading volume of 22,388 shares, compared to its average volume of 59,622. The company has a market capitalization of $11.65 million, a PE ratio of -0.32 and a beta of 1.51. Passage Bio has a 52-week low of $3.29 and a 52-week high of $20.00. The stock’s fifty day moving average price is $4.15 and its 200-day moving average price is $6.05.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PASG shares. Wall Street Zen lowered Passage Bio from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings raised shares of Passage Bio from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, November 2nd. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Passage Bio has an average rating of “Hold” and a consensus price target of $13.25.

Passage Bio Company Profile

Passage Bio, Inc is a clinical-stage biotechnology company focused on developing gene therapies for diseases of the central nervous system. The company uses adeno-associated virus (AAV) delivery technologies to develop treatments intended to address the underlying genetic causes of severe neurological and neurodegenerative disorders.

Its research programs have included PBGM01, an investigational gene therapy for GM1 gangliosidosis, a rare inherited disorder caused by mutations affecting the GLB1 gene.