FY2028 Earnings Forecast for Passage Bio, Inc. Issued By Wedbush (NASDAQ:PASG)

Passage Bio, Inc. (NASDAQ:PASG) – Wedbush lowered their FY2028 EPS estimates for shares of Passage Bio in a research note issued on Thursday, August 8th. Wedbush analyst L. Chico now expects that the company will earn $0.02 per share for the year, down from their prior estimate of $0.05. The consensus estimate for Passage Bio’s current full-year earnings is ($1.06) per share.

Passage Bio (NASDAQ:PASG) last posted its quarterly earnings results on Tuesday, May 14th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.07.

Separately, Canaccord Genuity Group cut their target price on shares of Passage Bio from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th.

Passage Bio Stock Performance

Shares of Passage Bio stock traded down $0.01 during trading hours on Friday, hitting $0.77. The company’s stock had a trading volume of 70,804 shares, compared to its average volume of 269,382. The stock has a market cap of $47.48 million, a price-to-earnings ratio of -0.51 and a beta of 1.20. The firm has a fifty day moving average of $0.95 and a 200-day moving average of $1.17. Passage Bio has a twelve month low of $0.58 and a twelve month high of $1.79.

Hedge Funds Weigh In On Passage Bio

Institutional investors and hedge funds have recently made changes to their positions in the stock. Affinity Asset Advisors LLC purchased a new position in Passage Bio during the 1st quarter valued at about $357,000. Pale Fire Capital SE lifted its stake in shares of Passage Bio by 489.1% during the fourth quarter. Pale Fire Capital SE now owns 581,257 shares of the company’s stock valued at $587,000 after buying an additional 482,595 shares during the period. Acadian Asset Management LLC boosted its position in Passage Bio by 59.0% during the first quarter. Acadian Asset Management LLC now owns 961,271 shares of the company’s stock worth $1,296,000 after acquiring an additional 356,593 shares during the last quarter. Vanguard Group Inc. grew its stake in Passage Bio by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 2,071,538 shares of the company’s stock worth $2,797,000 after acquiring an additional 52,656 shares during the period. Finally, Lynx1 Capital Management LP raised its holdings in Passage Bio by 1,178.1% in the 1st quarter. Lynx1 Capital Management LP now owns 4,845,871 shares of the company’s stock valued at $6,542,000 after acquiring an additional 4,466,712 shares during the last quarter. 53.48% of the stock is owned by institutional investors and hedge funds.

About Passage Bio

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.