Passage Bio (NASDAQ:PASG) Earns “Hold” Rating from TD Cowen

Passage Bio (NASDAQ:PASG)‘s stock had its “hold” rating reiterated by research analysts at TD Cowen in a note issued to investors on Tuesday, MarketBeat Ratings reports.

PASG has been the topic of several other research reports. Canaccord Genuity Group reduced their price objective on shares of Passage Bio from $67.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Lucid Cap Mkts cut shares of Passage Bio from a “strong-buy” rating to a “hold” rating in a research report on Monday. Wall Street Zen cut shares of Passage Bio from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Wedbush reiterated a “neutral” rating and set a $8.00 price objective (down from $32.00) on shares of Passage Bio in a research report on Tuesday. Finally, Chardan Capital set a $7.00 price objective on shares of Passage Bio and gave the company a “neutral” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Passage Bio currently has an average rating of “Hold” and a consensus target price of $17.00.

Passage Bio Stock Performance

Shares of Passage Bio stock traded up $0.04 on Tuesday, hitting $6.29. 198,706 shares of the company traded hands, compared to its average volume of 72,873. The stock has a market capitalization of $20.19 million, a P/E ratio of -0.43 and a beta of 1.77. Passage Bio has a 52 week low of $5.12 and a 52 week high of $20.00. The business has a 50-day simple moving average of $8.55 and a 200 day simple moving average of $9.55.

Passage Bio (NASDAQ:PASG) last released its quarterly earnings data on Tuesday, March 3rd. The company reported ($4.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.19) by ($1.89). Research analysts expect that Passage Bio will post -8.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Eversept Partners LP bought a new position in shares of Passage Bio in the 4th quarter valued at about $1,490,000. Renaissance Technologies LLC lifted its holdings in shares of Passage Bio by 8.2% in the 4th quarter. Renaissance Technologies LLC now owns 109,089 shares of the company’s stock valued at $1,287,000 after acquiring an additional 8,300 shares during the last quarter. Yiheng Capital Management L.P. bought a new position in shares of Passage Bio in the 4th quarter valued at about $405,000. Geode Capital Management LLC lifted its holdings in shares of Passage Bio by 15.1% in the 4th quarter. Geode Capital Management LLC now owns 31,397 shares of the company’s stock valued at $371,000 after acquiring an additional 4,114 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Passage Bio in the 3rd quarter valued at about $188,000. Institutional investors own 53.48% of the company’s stock.

Passage Bio Company Profile

Passage Bio is a clinical-stage biotechnology company focused on the development of gene therapies to treat rare, monogenic central nervous system and neuromuscular disorders. The company applies its in-house gene therapy platform to design and engineer adeno-associated virus (AAV)–based vectors that restore or replace defective genes, aiming to deliver durable treatments with a single administration.

The company’s lead programs include PBGM01, an AAV9-based therapy for GM2 gangliosidoses (Tay–Sachs and Sandhoff diseases), which is conducting a first-in-human study to assess safety and potential therapeutic benefit.