Passage Bio, Inc. (NASDAQ:PASG) Stock Now Rated “Hold” by Sell-Side Analysts

Shares of Passage Bio, Inc. (NASDAQ:PASG) have earned an average recommendation of “Hold” from the nine ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and two have assigned 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.

PASG has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of Passage Bio from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings lowered Passage Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 6th.

Passage Bio Stock Performance

Shares of PASG opened at $4.55 on Tuesday. The company has a 50 day moving average price of $4.56 and a 200-day moving average price of $5.44. The stock has a market capitalization of $14.65 million, a PE ratio of -0.40 and a beta of 1.40. Passage Bio has a fifty-two week low of $3.29 and a fifty-two week high of $20.00.

Passage Bio (NASDAQ:PASG) last announced its earnings results on Monday, August 10th. The company reported ($2.44) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($2.44). Equities research analysts forecast that Passage Bio will post -9.19 EPS for the current year.

Institutional Investors Weigh In On Passage Bio

An institutional investor recently bought a new stake in Passage Bio stock. Eversept Partners LP acquired a new position in shares of Passage Bio, Inc. (NASDAQ:PASG) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 126,230 shares of the company’s stock, valued at approximately $1,490,000. Eversept Partners LP owned 3.97% of Passage Bio at the end of the most recent reporting period. Hedge funds and other institutional investors own 53.48% of the company’s stock.

About Passage Bio

Passage Bio, Inc is a clinical-stage biotechnology company developing genetic medicines for severe diseases of the central nervous system. The company focuses on conditions with significant unmet medical needs and uses adeno-associated virus (AAV) gene-delivery technologies to develop potential one-time treatments intended to address the underlying causes of disease.

Its research and development programs have included investigational therapies for rare neurological and neurodegenerative disorders, including GM1 gangliosidosis, Krabbe disease and frontotemporal dementia associated with progranulin gene mutations.