Passage Bio (PASG) to Release Earnings on Monday

Passage Bio (NASDAQ:PASG) is expected to be releasing its earnings data before the market opens on Monday, March 3rd. Analysts expect Passage Bio to post earnings of ($0.21) per share for the quarter.

Passage Bio Stock Down 4.6 %

Shares of PASG opened at $0.52 on Monday. The stock has a market cap of $32.42 million, a price-to-earnings ratio of -0.45 and a beta of 1.54. The business has a 50-day simple moving average of $0.62 and a two-hundred day simple moving average of $0.66. Passage Bio has a 52 week low of $0.45 and a 52 week high of $1.79.

Insider Activity

In related news, major shareholder Lynx1 Capital Management Lp acquired 373,645 shares of the stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost of $0.65 per share, with a total value of $242,869.25. Following the purchase, the insider now directly owns 9,256,953 shares of the company’s stock, valued at approximately $6,017,019.45. This trade represents a 4.21 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Orbimed Advisors Llc sold 54,181 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $0.84, for a total value of $45,512.04. Following the completion of the sale, the insider now directly owns 7,643,285 shares of the company’s stock, valued at $6,420,359.40. The trade was a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 620,368 shares of company stock valued at $421,921 in the last ninety days. Insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Canaccord Genuity Group restated a “buy” rating and set a $13.00 price target on shares of Passage Bio in a report on Thursday, November 14th. Chardan Capital restated a “buy” rating and set a $7.00 price target on shares of Passage Bio in a report on Thursday, November 14th. Finally, Wedbush assumed coverage on Passage Bio in a report on Friday, November 29th. They set an “outperform” rating and a $4.00 price target for the company.

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.