Passage Bio, Inc. (NASDAQ:PASG) Short Interest Update

Passage Bio, Inc. (NASDAQ:PASG) was the target of 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. 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 shares of the company are sold short. Currently, 0.6% of the shares of the company are sold short. Based on an average daily trading volume, of 40,387 shares, the short-interest ratio is currently 0.5 days.

Insiders Place Their Bets

In other Passage Bio news, CEO William Chou sold 4,076 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $18.44, for a total transaction of $75,161.44. Following the completion of the sale, the chief executive officer directly owned 6,524 shares in the company, valued at $120,302.56. This trade represents a 38.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.00% of the stock is currently owned by corporate insiders.

Institutional Trading of 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 disclosure with the Securities & Exchange Commission. The institutional investor acquired 23,500 shares of the company’s stock, valued at approximately $188,000. Squarepoint Ops LLC owned 0.74% of Passage Bio at the end of the most recent reporting period. Institutional investors and hedge funds own 53.48% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Chardan Capital raised their price target on Passage Bio to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Passage Bio in a research note on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.67.

Passage Bio Trading Down 9.9%

Passage Bio stock traded down $1.41 during mid-day trading on Monday, reaching $12.87. The company had a trading volume of 40,317 shares, compared to its average volume of 81,180. The business has a fifty day simple moving average of $10.86 and a 200 day simple moving average of $8.51. The company has a market cap of $40.93 million, a P/E ratio of -0.89 and a beta of 1.76. Passage Bio has a fifty-two week low of $5.12 and a fifty-two week high of $20.00.

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

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.