Passage Bio (NASDAQ:PASG) Announces Quarterly Earnings Results

Passage Bio (NASDAQ:PASG) posted its quarterly earnings data on Tuesday. The company reported ($1.47) earnings per share for the quarter, beating the consensus estimate of ($2.43) by $0.96, FiscalAI reports.

Passage Bio Stock Performance

Shares of Passage Bio stock traded up $0.19 on Tuesday, hitting $3.62. 22,388 shares of the company’s stock were exchanged, compared to its average volume of 59,622. Passage Bio has a 1 year low of $3.29 and a 1 year high of $20.00. The company has a 50-day simple moving average of $4.15 and a 200-day simple moving average of $6.05. The stock has a market capitalization of $11.65 million, a PE ratio of -0.32 and a beta of 1.51.

Analysts Set New Price Targets

PASG has been the subject of a number of analyst reports. Wall Street Zen lowered Passage Bio from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings raised Passage Bio from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, November 2nd. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.25.

Passage Bio Company Profile

Passage Bio, Inc is a clinical-stage biotechnology company focused on developing gene therapies for diseases of the central nervous system. The company uses adeno-associated virus (AAV) delivery technologies to develop treatments intended to address the underlying genetic causes of severe neurological and neurodegenerative disorders.

Its research programs have included PBGM01, an investigational gene therapy for GM1 gangliosidosis, a rare inherited disorder caused by mutations affecting the GLB1 gene.