Short Interest in Passage Bio, Inc. (NASDAQ:PASG) Grows By 25.4%

Passage Bio, Inc. (NASDAQ:PASG) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 19,538 shares, an increase of 25.4% from the December 15th total of 15,577 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average daily trading volume, of 40,387 shares, the short-interest ratio is currently 0.5 days. Based on an average daily trading volume, of 40,387 shares, the short-interest ratio is currently 0.5 days. Currently, 0.6% of the company’s stock are short sold.

Passage Bio Stock Down 11.4%

Shares of PASG stock traded down $1.63 during trading on Tuesday, reaching $12.65. 19,108 shares of the company’s stock were exchanged, compared to its average volume of 123,155. Passage Bio has a twelve month low of $5.12 and a twelve month high of $20.00. The firm’s fifty day moving average price is $10.99 and its 200-day moving average price is $8.53. The stock has a market capitalization of $40.23 million, a PE ratio of -0.88 and a beta of 1.76.

Passage Bio (NASDAQ:PASG) last released its quarterly earnings data on Monday, November 10th. The company reported ($2.44) EPS for the quarter, topping analysts’ consensus estimates of ($2.64) by $0.20. As a group, analysts anticipate that Passage Bio will post -1.03 EPS for the current fiscal year.

Insider Buying and Selling at Passage Bio

In related news, CEO William Chou sold 4,076 shares of Passage Bio stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $18.44, for a total value of $75,161.44. Following the sale, the chief executive officer owned 6,524 shares of the company’s stock, valued at approximately $120,302.56. The trade was a 38.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Passage Bio stock. Squarepoint Ops LLC purchased a new stake in Passage Bio, Inc. (NASDAQ:PASG) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 23,500 shares of the company’s stock, valued at approximately $188,000. Squarepoint Ops LLC owned 0.74% of Passage Bio as of its most recent SEC filing. 53.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on PASG. Weiss Ratings restated a “sell (d-)” rating on shares of Passage Bio in a research note on Monday, December 29th. Chardan Capital increased their price objective on Passage Bio to $21.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.67.

About Passage Bio

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.