Passage Bio (NASDAQ:PASG) Shares Up 2.6% – Time to Buy?

Passage Bio, Inc. (NASDAQ:PASG) shares traded up 2.6% during mid-day trading on Monday . The company traded as high as $10.48 and last traded at $10.05. 82,480 shares changed hands during trading, an increase of 83% from the average session volume of 45,025 shares. The stock had previously closed at $9.80.

Analysts Set New Price Targets

PASG has been the subject of a number of recent analyst reports. Chardan Capital upped their price target on Passage Bio to $21.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Passage Bio in a report on Monday, December 8th. Finally, Wall Street Zen raised shares of Passage Bio to a “hold” rating in a research note on Friday, September 5th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.67.

Passage Bio Price Performance

The business’s 50-day moving average is $8.33 and its two-hundred day moving average is $7.68. The firm has a market cap of $31.96 million, a P/E ratio of -0.70 and a beta of 1.86.

Passage Bio (NASDAQ:PASG) last released its quarterly earnings data on Monday, November 10th. The company reported ($2.44) earnings per share for the quarter, topping the consensus estimate of ($2.64) by $0.20. Equities research analysts predict that Passage Bio, Inc. will post -1.03 EPS for the current year.

Institutional Investors Weigh In On Passage Bio

An institutional investor recently bought a new position in Passage Bio stock. Squarepoint Ops LLC acquired a new stake in Passage Bio, Inc. (NASDAQ:PASG) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 23,500 shares of the company’s stock, valued at approximately $188,000. Squarepoint Ops LLC owned approximately 0.74% of Passage Bio as of its most recent SEC filing. Hedge funds and other institutional investors own 53.48% of the company’s stock.

Passage Bio Company Profile

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.